Solana-based meme token BONK dropped over 14% in the past 24 hours, falling from $0.000035 to $0.00003096, as institutional traders reduced exposure during a broader risk-off shift across crypto markets.
CoinDesk Research’s technical analysis indicates heightened volatility, with trading volumes exceeding 2.39 trillion BONK. Significant resistance emerged near the $0.000036 level, where institutional sell orders totaled more than 2.6 trillion tokens.
Overnight, temporary stabilization formed at $0.000031 as sell pressure eased, absorbing roughly 1.48 trillion tokens. However, upside momentum remained capped, and a notable 3% drop occurred between 13:06 and 14:05 UTC.
High-frequency trading models indicate that a break below the $0.000031 support could open the door to further losses, potentially pushing BONK toward the psychologically key $0.000030 level in the short term.
Key Technical Levels:
- Daily decline: 13.6%
- Range: $0.00003565 (high) to $0.00003062 (low)
- Institutional liquidations: Over 2.6 trillion tokens at resistance
- Support zone: ~$0.000031 with 1.48 trillion tokens absorbed
- Final-hour dip: $0.000032 → $0.000031 with 60B+ tokens traded
- Algo volumes spiked between 13:53–14:03 UTC, possibly triggering stops
