BONK fell 3.9% to $0.00001223 on Wednesday as the memecoin fell below key support levels amid a sharp increase in trading activity.
The token traded between $0.00001279 and $0.00001198, a wide 42% intraday range that reflected persistent technical weakness rather than any clear fundamental catalyst, according to CoinDesk Research’s technical analysis data model.
Trading volume peaked at 1.07 trillion tokens, nearly double the 24-hour average. This rise coincided with a clean break through $0.00001211, a support level that had held through the previous week. The break established $0.00001200 as the next psychological floor, while the $0.00001226–$0.00001257 zone was converted into immediate overhead resistance.
Intraday data shows BONK sliding lower from $0.00001237 to $0.00001220, with clustered volume bursts at 13:42 (55.1B) and 14:00 (76.8B), confirming continued distribution. Attempts to rally against earlier support quickly stalled, and declining trading volumes in the final hour indicated limited appetite for reversals.
With the token still trading close to its newly formed lower limit, the next directional move depends on whether BONK can regain the $0.00001226-$0.00001230 band with decisive volume. Failure to do so increases the likelihood of a retest of $0.00001200, a level that now anchors the short-term outlook.
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.
