BONK Drops 3.9% as Key Support Fails, Trading Volumes Surge
BONK fell 3.9% to $0.00001223 on Wednesday, slipping below crucial support levels amid a sharp increase in trading activity.
The memecoin traded in a broad range between $0.00001198 and $0.00001279, reflecting technical weakness rather than any significant fundamental catalyst, according to CoinDesk Research’s technical model.
Trading volumes climbed to 1.07 trillion tokens, nearly double the 24-hour average, coinciding with a breakdown through $0.00001211, a support level that had held for several sessions. This move establishes $0.00001200 as the next psychological floor, while the $0.00001226–$0.00001257 range now acts as immediate overhead resistance.
Intraday activity showed BONK drifting from $0.00001237 down to $0.00001220, with volume spikes at 13:42 (55.1B) and 14:00 (76.8B) signaling continued distribution. Attempts to rebound toward previous support levels stalled quickly, and diminishing trade sizes late in the session suggest limited buying interest.
The memecoin’s next move will likely depend on whether it can reclaim the $0.00001226–$0.00001230 zone with sufficient volume. Failure to do so could prompt a retest of $0.00001200, which now anchors the short-term outlook for BONK.
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