2.02 trillion token burn by Bonk

Bonk price improves somewhat on Thursday after losing nearly 5% this week.

To commemorate BONKdragon and the 2025 Lunar New Year, BONK will burn 2.02 trillion tokens.

Bonk's long-to-short ratio hit its highest level in over a month, meaning more traders are banking on its price rising.

Despite plunging over 5% this week, Bonk price recovered to $0.000018 on Thursday. Bonk said on X that it would burn 2.02 trillion tokens to honor BONKdragon and the 2025 Lunar New Year. Coinglass data reveals that Bonk's long-to-short ratio hit its highest level in over a month, meaning more traders are banking on its price rising.

2.02 trillion token burn by Bonk

On Thursday, Bonk said on X that it will burn 2.02 trillion tokens to honor BONKdragon and the 2025 Lunar New Year. The token burn should boost its value by lowering supply and boosting scarcity.

Bonk technical outlook: Bulls want 40% gains

Monday, Bonk price again challenged and bounced off its $0.000015–$000014 support zone. Thursday's Bonk price is $0.000018, up marginally.

Bonk's price would climb 40% to retest its daily resistance level at $0.000025 if the support area holds.

The daily chart's Relative Strength Index (RSI) momentum indicator is at 30, recovering from overbought levels, showing slight strength. The RSI must stay above 50 to maintain positive momentum.

1.14, is the highest in over a month, another optimistic indication. This ratio over one indicates optimistic market sentiment as more traders bet on asset price increases.

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