BONK has been failing significantly, with a decline of 10.45% over the last month. In just the past 24 hours, it has lost another 2.03%, indicating a continuing downward trend.
Market liquidity data reveals long liquidations far exceed short liquidations, with $438,000 in long positions compared to only $6,400 in shorts, illustrating a bearish sentiment.
Technical indicators, including the Parabolic SAR and Bull Bear Power, suggest a sustained bearish market environment, reinforcing the likelihood of further price drops for BONK.
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