BONK Slides 8% as Resistance Halts Rally, Selling Volume Surges
BONK came under renewed selling pressure on Thursday, falling 8.4% to $0.0000345 after being firmly rejected at the $0.000038 resistance level. The drop was accompanied by a surge in trading volume, reaching 2.16 trillion tokens — well above the 24-hour average of 1.46 trillion — signaling intense distribution by sellers.
The Solana-based meme token had rallied early in the session, briefly hitting an intraday high of $0.0000354 at 10:50 UTC. However, sustained sell-side pressure overwhelmed buyers, sending the price sharply lower in the hours that followed.
A failed breakout attempt in the final hour, along with heavy trading between 11:12 and 11:18 UTC (exceeding 20 billion tokens per minute), confirmed bearish control. The price now remains trapped below short-term resistance at $0.0000350, with technical indicators pointing to further downside unless a significant shift in momentum occurs.
Key Technical Highlights:
- Daily Performance: -8.4% from $0.0000375 to $0.0000345
- Intraday Range: 11% swing, from $0.000038 (high) to $0.0000338 (low)
- Confirmed Resistance: $0.000038, rejected on high volume at 14:00 UTC
- Support Zone: $0.0000338–$0.0000341, showing brief bounces
- Peak Volume: 2.16 trillion BONK, highest in weeks
- Notable Activity: Over 20B tokens/min traded during the breakdown phase
- Outlook: Bearish bias remains intact below $0.0000350; support retest at $0.0000335 likely
With BONK unable to hold above key technical levels, traders are now closely watching lower support areas for signs of a potential rebound or further breakdown.
