Crypto
Bonk Price Jumps on Buyer Interest, But Bearish Outlook Persists
Bonk, a meme coin on the Solana network, has been experiencing short-term selling pressure and trades near its daily lows. The token's price jumped 10.93% after buyers stepped in, but this up move looks limited as it still trades below its key moving averages.
The current price of Bonk is $0.053, with a circulating supply of approximately 87.994 trillion BONK. It remains a major Solana community asset since its launch in late 2022.
Technical indicators suggest that the token is oversold, but longer-term pressure remains bearish. The MACD shows ongoing selling pressure, and the ADX indicates a weak trend.