BONK-USD extended its decline on Thursday, falling 4.06% to $0.00001174 in the last 24 hours as the Solana-based meme token failed to maintain its footing above the $0.00001200 level.
The move continued a week of choppy trading across smaller-cap digital assets, with BONK’s volatility underscoring growing uncertainty in the meme token segment.
The token is trading within a $0.00000564 intraday range, reflecting 4.7% price swings as traders responded to failed breakout attempts near upper resistance, according to CoinDesk Research’s technical analysis data model.
Volume increased to 779.9 billion tokens, approx. 47% above the daily average, during a push towards $0.00001248, with resistance in the $0.00001250-$0.00001255 zone limiting further progress. This rejection marked an important turning point that triggered a decline that accelerated into the afternoon.
14:00 GMT BONK fell sharply from $0.00001210 to $0.00001197, breaking short-term support and confirming a minor breakdown pattern. Activity remained high during the drop, with an increase of 28.5 billion token volume signaling intensified turnover. Trading later settled down as price action consolidated near $0.00001200, while volume dropped to 65.2 billion tokens, indicating near-term exhaustion.
Although BONK is now trading around 42% below monthly highs, the token’s intraday recovery from its lows suggests near-term stabilization to come. Technical indicators point to a tentative bottom around $0.00001197, but momentum remains muted unless volume recovers its 24-hour average.
Disclaimer: Portions of this article were generated with the help of AI tools and reviewed by our editorial staff to ensure accuracy and compliance with our standards. For more information, see CoinDesk’s full AI policy.
