BONK Slides 3.9%, Breaking Key Support as Trading Spikes
BONK fell 3.9% to $0.00001223 on Wednesday, dropping below critical support levels as trading volumes surged.
The memecoin traded within a wide intraday range of $0.00001198–$0.00001279, reflecting ongoing technical weakness rather than any significant fundamental driver, according to CoinDesk Research’s technical analysis.
Trading activity hit 1.07 trillion tokens, nearly double the 24-hour average, coinciding with BONK breaking through $0.00001211, a support level that had held over the previous week. The move now positions $0.00001200 as the immediate floor, while the $0.00001226–$0.00001257 band turns into short-term 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) signaling continued distribution. Recovery attempts toward prior support levels were short-lived, and declining trade sizes late in the session indicated weak buying interest.
The token’s next direction depends on whether it can reclaim the $0.00001226–$0.00001230 range with strong volume. If not, a retest of $0.00001200 appears increasingly likely, defining the short-term outlook for BONK.
