BONK Rallies 8% Ahead of Trillion-Token Burn Milestone
Solana meme token gains momentum as deflationary pressure builds with 1T token burn on the horizon
- BONK surged 8.39% from $0.000028 to $0.000029 before facing resistance at $0.00003.
- The token is nearing 1 million holders, which would trigger a historic 1 trillion token burn.
- Profit-taking emerged near $0.00003, with a 1.58% pullback.
BONK recorded a notable 8.39% increase rising from $0.000028 to $0.000029, marking a continuation of the token’s bullish momentum following earlier rebounds, with a clearly defined structure of ascending lows consolidating around the $0.000027–$0.000028 range.
As the token approached the psychologically significant $0.00003 resistance level, increased sell-side pressure materialized, capping further advances despite bullish fundamentals, according to CoinDesk's technical analysis data model.
The token reached an intraday high of $0.00003 at approximately 09:58 UTC before retreating. BONK fell 1.58% to $0.000029, retracing part of its earlier rally. The pullback was accompanied by heightened volume, suggesting localized profit-taking rather than a broader trend reversal.
The recent rally is underpinned by a looming deflationary catalyst: BONK’s protocol is set to burn 1 trillion tokens upon reaching 1 million on-chain holders, which would mark one of the largest burns in the meme token’s history and reduce circulating supply significantly.
Technical Analysis
- $0.000027 to $0.00003 (10.7% range)
- Strong consolidation near $0.000027–$0.000028
- $0.00003 proved formidable, triggering a 1.58% pullback
- Spiked during reversal period, confirming bearish rejection at resistance
- Bullish structure with higher lows; short-term bearish retracement underway
Disclaimer: 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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As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Why it matters:
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
