BONK Plunges to Fresh Lows Amid Growing Sell Pressure

BONK has fallen to fresh all-time lows across major exchanges, including Binance and OKX. The token's price declined by around 10% over the past 24 hours, with a year-to-date loss of 66%. Perpetual traders have increased their short exposure as the price dropped, leading to a negative funding rate of -0.0169%.

The rising volume, which surged by over 200% to $69.07 million, indicates growing momentum among sellers. The Accumulation/Distribution (A/D) indicator suggests sustained selling pressure and capital outflows from the market. The Aroon indicator also supports this view, with the Aroon Down line hitting 100% while the Aroon Up line trended lower to 14.29%.

The community sentiment around BONK has turned sharply bearish, with a consensus reading falling to 71% from 85%. Sentiment itself dropped to a negative 3.33, and mindshare rose to 3,410 posts across social media.