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2w ago

Bonk Tests Key Support at $0.000024 Following $25 Million Safety Shot Purchase

Smart-money holdings have surged, with exchange outflows pointing to off-exchange accumulation; a rebound is likely if price stays above $0.00002338.

Bonk retreats 8% after climbing to august high

Overview

  • BONK climbed to an August high of $0.00002841 on August 11 before sliding about 8% amid a spike in trading volumes between 1.12 trillion and 2.16 trillion tokens.
  • On August 12 the token fell nearly 6% to $0.00002436, carving out support near $0.000024 before a 3% bounce in early U.S. trading.
  • Nasdaq-listed Safety Shot revealed a $25 million corporate treasury purchase of BONK via its stake in the Bonk.fun launchpad, signaling mainstream balance-sheet engagement.
  • On-chain metrics show smart-money investors have boosted holdings by 317% over 30 days while whales trim positions and exchanges record five straight days of outflows.
  • Analysts point to a double-bottom and golden cross setup that could drive a rebound toward $0.000040, although a drop below $0.00002338 would negate the bullish outlook.