After a High-Volume Selloff, BONK Approaches Key Support Zones

BONK Retreats 4% Amid Heavy Volume, Tests Key Support After Failed Breakout

BONK, the Solana-based memecoin, fell 4% in the last 24 hours as the token pulled back from a local high of $0.0000377 to an intraday low of $0.00003278. The drop came amid a spike in volume, signaling strong resistance at the $0.000038 level and triggering a wave of profit-taking.

Trading volume surged to 2.82 trillion tokens, well above the 24-hour average, with a sharp burst of activity between 13:41 and 13:51 UTC where over 145 billion tokens changed hands. That flurry of trading confirmed the rejection at resistance and accelerated the move lower.

The pullback mirrors weakness across the broader altcoin landscape, with key tokens like SOL, DOGE, and ADA also under pressure. A stall in upside momentum for bitcoin and ether added to the bearish tone, leading risk-on traders to unwind positions in more volatile tokens like BONK.

Despite the selloff, BONK remains above medium-term support and continues to trade within a broader consolidation range. Analysts say a sustained hold above $0.000032 could provide a base for renewed bullish momentum — but only if market conditions stabilize.

Technical Snapshot

24H Decline: –4%
High: $0.0000377
Low: $0.00003278
Volume Spike: 2.82T tokens
Resistance Zone: $0.000038
Critical Action: 145B tokens traded in 10 minutes during selloff

With volatility elevated, traders are closely watching for signs of either deeper correction or bounce attempts as sentiment remains fragile across memecoins.