BONK Price Falls Below Support as Volume Climbs by 46%

The Solana-based meme token BONK experienced a sharp 11% drop to $0.00001232, breaking through critical support levels and erasing recent gains, signaling a near-term bearish shift according to technical analysis.

Heavy selling pressure was noted around 03:00 GMT when trading volume spiked by 46% above the daily average. This breakdown below the $0.0000137 support level solidified the bearish outlook, with resistance now set near $0.0000144.

Despite a brief late-session recovery attempt, momentum faded, indicating trader caution. BONK remains under pressure while trading below $0.0000137, and holding above the current support floor of $0.0000129 is crucial to prevent a deeper decline.

(Source：CoinDesk)