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BONK Slips as Governance Vote Nears, Testing Key Technical Support
Source: CryptoNewsNet Original Title: BONK Slips as Governance Vote Nears, Testing Key Technical Support Original Link: https://cryptonews.net/news/analytics/32115778/ BONK declined 3.94% over the past 24 hours, sliding to $0.000009492 as the token broke below the psychological $0.00001000 threshold amid increased trading activity surrounding its pending governance vote.
The Solana-based memecoin rallied to $0.000010273, where volume jumped 137% above the 24-hour average to 1.61 trillion tokens during an attempted test of overhead resistance, according to technical analysis data.
That move failed to hold, with the token’s intraday trend reversing into a series of lower highs that produced multiple support breaks through the afternoon.
Despite the pullback, BONK found footing near $0.000009380 and stabilized into the session’s close, though attempts to regain lost ground remained limited. The upcoming governance vote added a layer of anticipation to market activity. Under the proposal, BONK would receive 50% of protocol trading fees in exchange for developing a dedicated frontend—a step that could materially expand BONK’s utility footprint.