BONK Plummets 12% as Meme Token Carnage Spreads—Buy the Dip or Bail?
Meme coins are getting mauled—and BONK just became the latest casualty. The Solana-based token nosedived 12% overnight as traders fled speculative assets en masse.
Blood in the meme streets
This isn't isolated pain. The entire meme sector is hemorrhaging value, proving once again that 'utility' matters less than herd psychology in crypto's casino economy. Retail bagholders are left staring at charts while whales cash out.
Silver lining for degens?
History shows meme coins rebound harder after flush-outs—assuming you've got the stomach for volatility. Just don't pretend this is 'investing.' It's gambling with extra steps and blockchain buzzwords.
Technical Analysis Highlights
- Price Range: $0.0000322 (high) to $0.0000276 (low), reflecting 16% intraday volatility.
- Resistance: $0.0000322 observed with 1.03T tokens traded during coordinated sell wave.
- Support: Critical zone near $0.0000280 tested multiple times under institutional pressure.
- Peak Selling Hour: 20:00 UTC on July 29 with 2.59T tokens exchanged.
- Flash Sell-Off: 3.13% drop in five minutes (10:47–10:52 UTC) with 60.6 billion tokens traded.
- Volume Behavior: Persistent imbalance between sell-side execution and buy orders.
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