Analysis: BONK Price Drops 6%, but Ecosystem Growth Supports Long-Term Outlook
According to ChainCatcher, citing a report from CoinDesk, the price of BONK tokens has dropped by 6% in the past 24 hours and is now trading at $0.00002161. Despite short-term selling pressure, the related ecosystem platform Bonk.fun has captured a 55% market share of token issuance on the Solana chain, with a daily trading volume reaching $539 million.
The platform continues to operate a mechanism that repurchases and burns BONK tokens using transaction fees. Analysts note that the $0.000021–$0.000022 range has established a new price support level, while resistance at $0.000022–$0.0000222 remains firm.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Publicly listed company Prenetics increases its total bitcoin holdings to 504.
BTC holdings of the Australian Monochrome spot Bitcoin ETF have risen to 1,158.
Analyst: Bitcoin has bottomed out in the short term, a rebound to $100,000 may occur
Trending news
MoreCrypto prices
More
