BONK posted one in every of its most important intraday rallies in latest weeks, climbing 10% from $0.000025 to $0.000027 in the course of the 24-hour interval from Aug. 12 at 13:00 UTC to Aug. 13 at 12:00 UTC..
The Solana-based meme token traded in a $0.000031 vary, representing 13% volatility, as merchants capitalized on short-term momentum, in keeping with CoinDesk Analysis’s technical evaluation knowledge mannequin.
The rally started after BONK established stable help at $0.000024, with shopping for curiosity intensifying. Momentum carried by to the early hours of Aug. 13, the place the token reached its day by day excessive of $0.000027 between 03:00 and 04:00 UTC.
Buying and selling volumes persistently outpaced the 24-hour common of 956.8 billion tokens, signaling robust participation from each retail merchants and bigger market gamers.
Nevertheless, the positive factors proved troublesome to maintain.
BONK reversed by 1% in the course of the U.S. morning, slipping from $0.000027 to $0.00002646. The heaviest promoting stress got here at 12:52 UTC, when a pointy decline accompanied a 38-billion-token quantity spike, suggesting profit-taking by bigger holders.
As background, BONK’s buying and selling exercise comes days after Nasdaq-listed Security Shot disclosed a $25 million allocation to the token’s ecosystem by way of Bonk.enjoyable’s launchpad platform. Whereas that announcement preceded this rally, it underscores institutional curiosity within the challenge.
With help nonetheless intact at $0.000024 and resistance firmly established at $0.000027, merchants will likely be watching intently to see if BONK can break greater within the coming periods or consolidate earlier than its subsequent main transfer.
Technical Evaluation
- Help zone: $0.000024 held all through early buying and selling.
- Resistance peak: $0.000027 examined between 03:00-04:00 UTC on August 13.
- Complete vary: $0.000031, representing 13% volatility.
- Common day by day quantity: 956.8B tokens; exceeded throughout a lot of the rally.
- Largest promoting spike: 38B tokens at 12:52 UTC throughout 1% pullback.
- Late-session decline: $0.000027 to $0.00002646 within the remaining hour.
Disclaimer: Components of this text have been generated with the help from AI instruments and reviewed by our editorial staff to make sure accuracy and adherence to our requirements. For extra info, see CoinDesk’s full AI Coverage.
