$BONK Grinding Near Lows After Treasury Hit – Bounce or Breakdown? 🐕

Bonk is trading around $0.0000037–$0.0000040 after a rough July. The Solana meme coin remains under heavy pressure.
Technical Snapshot:
• Support: $0.0000035–$0.0000037 (critical floor)
• Resistance: $0.0000042–$0.0000045 (immediate)
• Momentum: Oversold on lower timeframes (RSI ~35–40). Short-term bounce possible from support, but higher timeframes show continued bearish structure. Volume on dips has been moderate.
News & Assets:
• Treasury Drain: $20M exploit via governance flaw earlier in July hit confidence hard.
• Meme Sector Weakness: Broader meme coin fatigue with low demand.
• Assets: High-supply Solana meme coin with strong community but limited utility beyond speculation.
The Setup:
BONK has been in a long downtrend with occasional relief bounces. The recent treasury news added selling pressure, but the token is now deeply oversold. A hold above $0.0000035 could spark a short-term relief rally toward $0.0000045. Breakdown below that opens the door to new lows around $0.0000030 or lower.
Position Suggest: LONG
Only long on hold of $0.0000035–$0.0000037 for a bounce.
Entry: $0.0000038–$0.0000040
Stop: Below $0.0000035
Targets: $0.0000042 → $0.0000045–$0.0000050
Short-term bias is cautiously long for a relief bounce. This is a high-risk meme play — treat as swing only.
Will BONK bounce from these lows or continue the bleed toward new lows? Drop your thoughts below 👇
‍#BONK #SolanaMeme #Crypto