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BONK Plummets 9% From ATH as Exchange Dumps Eclipse Token Burn Hype
BONK Plummets 9% From ATH as Exchange Dumps Eclipse Token Burn Hype
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Another day, another meme coin rollercoaster—this time with a side of institutional irony.
When supply shocks don't shock
The 'burn news' that was supposed to send BONK mooning got steamrolled by exchange whales cashing out. Nine percent nosedive in one go—turns out tokenomics can't outrun basic profit-taking.Paper hands beat deflationary mechanics
Market makers just demonstrated the oldest rule in crypto: liquidity events trump token burns every time. But hey, at least the exchanges collected their fees.Bonus jab: Nothing unites crypto like watching 'deflationary' tokens behave exactly like every other speculative asset when whales wake up.
Technical Analysis Highlights
- BONK moved between $0.00003185 and $0.00003763, a 15% swing.
- The price dropped 9% from a peak at 15:00 UTC to $0.00003430 by 16:00 UTC.
- Strong support held at $0.00003185-$0.00003230 amid multiple overnight retests.
- From 03:00 UTC, the price rallied to $0.00003438, showing short-term stabilization.
- Between 11:10 and 12:09 UTC, BONK fell 2% to $0.00003433.
- Reduced volume during final minutes suggests declining bearish momentum.
Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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