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08/09 08:42

Memecoin BONK Surges as Exciting Market Trends Unf

Memecoin BONK Surges as Exciting Market Trends Unfold1000018407

Memecoin BONK Surges as Exciting Market Trends Unfold
The memecoin BONK, operating on the Solana blockchain, experienced a 1.7% increase in the last 24 hours. According to technical analysis data compiled by CoinDesk Research, the token’s price fluctuated between $0.00002485 and $0.00002645. During this period, the spread of transactions was recorded at a price range of $0.00000160.

Market Volume and Price Movements

On August 7 at 16:00 UTC, BONK’s price began recovering from its lowest point and approached its peak during the European morning hours. Despite above-average daily volumes with total transaction volume exceeding 1.09 trillion tokens, strong sell orders at the $0.00002640 level limited the price’s upward movement.

The token managed to mostly maintain above the $0.00002600 level despite short-term pullbacks. An increase in volume by 48.86 billion tokens at 12:07 UTC coincided with an attempt to surpass $0.00002615; however, this attempt failed, reaffirming the established resistance point.

Currently, BONK’s price is observed to be trading sideways below $0.00002630. Investors are focused on whether the token will break upwards shortly or face new selling pressures.

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