BONK Tumbles 8% as Heavy Selling Follows Rejection at Key Resistance
BONK fell sharply on Thursday, dropping 8.4% to $0.0000345 after hitting strong resistance at $0.000038. The reversal came on surging volume, with over 2.16 trillion tokens traded — far exceeding its 24-hour average — signaling aggressive selling by large holders.
The Solana-based meme coin initially climbed to an intraday high of $0.0000354, but bullish momentum quickly faded. Sell walls emerged just above $0.000038, triggering a swift pullback. Attempts to reclaim short-term resistance at $0.0000350 failed as volume spikes confirmed a bearish breakdown.
The largest wave of selling occurred between 11:12 and 11:18 UTC, when over 20 billion tokens changed hands per minute, accelerating the decline. BONK now sits below both its short-term resistance and trend support, keeping the near-term outlook bearish.
Analysts are watching the $0.0000335–$0.0000340 zone for potential stabilization. Without a return of strong buying volume, the path of least resistance remains to the downside.
Technical Breakdown
- 24h Price Move: -8.4% (from $0.0000375 to $0.0000345)
- Intraday Range: $0.0000338 – $0.000038 (11% swing)
- Resistance: $0.000038 (rejected at 14:00 UTC)
- Support Zone: $0.0000338–$0.0000341
- Volume: 2.16 trillion BONK traded (vs. 1.46T avg)
- Breakdown Period: 11:12–11:18 UTC with 20B+ tokens/min
- Outlook: Bearish below $0.0000350, eyes on $0.0000335
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