BONK Falls 3.9% as Key Support Breaks Amid Surge in Trading
BONK dropped 3.9% to $0.00001223 on Wednesday, slipping below key support levels as trading volumes spiked sharply.
The memecoin traded in a wide intraday range of $0.00001198–$0.00001279, reflecting persistent technical weakness rather than any major fundamental catalyst, according to CoinDesk Research’s technical model.
Volume surged to 1.07 trillion tokens, nearly double the 24-hour average, coinciding with a breach of $0.00001211, a support level that had held throughout the past week. The move establishes $0.00001200 as the next psychological floor, while $0.00001226–$0.00001257 now serves as immediate overhead resistance.
Intraday data showed BONK drifting from $0.00001237 to $0.00001220, with clustered volume spikes at 13:42 (55.1B) and 14:00 (76.8B) confirming continued distribution. Attempts to recover toward previous support were short-lived, and declining trade sizes late in the session indicated limited buying interest.
The token’s next move hinges on whether it can reclaim the $0.00001226–$0.00001230 band with strong volume. Failure to do so could prompt a retest of $0.00001200, now anchoring BONK’s short-term outlook.
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