BONK, the Solana-based memecoin, experienced notable volatility over the past 24 hours, dropping 3% as it struggled to overcome key resistance levels. Trading ranged within a cap of $0.00002308 between August 18 and 19. The highest selling pressure occurred early on August 19, with over 600 billion tokens exchanged within a few hours, indicating significant institutional selling and retail capitulation. After closing at $0.00002192, further declines were observed as the price fell sharply to $0.00002117 during the U.S. morning. Despite brief recovery attempts, BONK's price remained weak, suggesting a pattern of sustained selling pressure. However, longer-term indicators show signs of selective accumulation by sophisticated investors, even as large wallets reduced holdings. The overall sentiment hints at potential retests of psychological support levels, particularly near $0.00002100.

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