BONK Slips as Governance Vote Nears, Testing Key Technical Support
CoinDesk
BONK dropped below $0.00001000 ahead of a dYdX integration vote, finding temporary support near $0.000009380.Summary
The Solana memecoin BONK declined by 3.94% over 24 hours, falling below the significant $0.00001000 threshold amid heightened trading activity related to its upcoming dYdX governance vote on December 11. BONK failed to sustain a rally to $0.000010273, which established a new resistance ceiling, leading to a reversal that tested and temporarily found support around $0.000009380. The proposed integration would see BONK receive 50% of protocol trading fees for developing a dedicated frontend for the dYdX Chain, potentially expanding its utility. Current volume patterns suggest positioning rather than strong directional conviction, keeping the token in a fragile zone until it can reclaim levels above $0.000009600.
(Source：CoinDesk)