Support Levels Under Pressure as BONK Experiences Significant Volume Sell-Off
BONK Drops 4% as Volume Surges, Pressure Builds at Key Support
BONK saw a sharp pullback on Tuesday, declining 4% over the last 24 hours as trading volume spiked and the memecoin failed to hold above resistance. The Solana-based token fell from a local peak of $0.0000377 to an intraday low of $0.00003278.
The selloff was driven by heavy trading activity, with total volume exceeding 2.82 trillion tokens. A notable burst occurred between 13:41 and 13:51 UTC, when over 145 billion BONK tokens were exchanged. This coincided with a clear rejection at the $0.000038 resistance level, leading to swift price deterioration.
The move comes amid broader weakness in altcoins, with tokens like SOL, DOGE, and ADA also experiencing losses. A cooling risk appetite across the market — particularly as bitcoin and ether stalled — led to heightened volatility in high-beta assets like BONK.
Technically, BONK is now testing key support around the $0.000032 zone. Holding above this level could signal consolidation and open the door for a potential recovery. However, a breakdown could expose the token to further downside, especially if altcoin sentiment continues to weaken.
Market Snapshot
- 24-Hour Decline: 4%
- Trading Range: $0.0000377 – $0.00003278
- Total Volume: 2.82 trillion tokens
- Key Resistance: $0.000038
- Critical Support Level: $0.000032
BONK traders are now watching for signs of stabilization, with broader market cues expected to shape the next move.
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