BONK Climbs 8% as Trillion-Token Burn Draws Closer, But Faces Resistance Near Key Level

Solana-based meme token BONK surged 8.39% over the past 24 hours, rising from $0.000028 to a session high of $0.00003 before slipping slightly to $0.000029. The move extended the token’s bullish structure, marked by ascending lows and consolidation around the $0.000027–$0.000028 band.

Despite strong momentum, BONK met resistance at the psychologically important $0.00003 level. The rejection was followed by a modest 1.58% decline, accompanied by elevated volume—indicating localized profit-taking rather than a broader trend reversal, per CoinDesk’s technical analysis model.

Driving recent gains is anticipation around a major deflationary event: BONK’s protocol plans to burn 1 trillion tokens once it reaches 1 million on-chain holders. The milestone would represent one of the largest burns in the token’s history and could significantly reduce its circulating supply—potentially reinforcing bullish sentiment.

Technical Highlights:

• Price traded within a 10.7% band: $0.000027 to $0.00003
• Resistance confirmed at $0.00003 following a sharp rejection
• Short-term retracement follows spike in volume
• Bullish structure intact, supported by higher lows and ongoing accumulation
• Deflationary milestone remains a key catalyst in near-term price action