BONK Plummets 12% as Meme Token Carnage Sparks Market Bloodbath
Meme coins face reckoning—again.
BONK leads the nosedive with a brutal 12% haircut as speculative traders flee en masse. The 'joke's on you' sector proves its critics right—once more—with volatility outpacing even Wall Street's wildest casino bets.
No fundamentals? No problem—until gravity kicks in. The sell-off exposes meme tokens' dirty secret: they're liquidity piñatas for whales. Retail bags the losses while influencers cash out.
Will this spark a broader crypto contagion? Unlikely. But it's another reminder: in the meme economy, 'hodl' is just 'bagholder' spelled with extra hopium.
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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