suffered a sharp drop to start the week, plunging 11% to $0.00001232 as the Solana-based meme token fell through critical support.
The decline erased much of last week’s gains, confirming a near-term bearish shift, according to CoinDesk Research’s technical analysis data model.
Following a decline from $0.000014 to $0.000013, BONK plunged over 6% to around $0.0000121 in the space of 30 minutes during the European afternoon.
The 24-hour trading range spanned $0.00001252 to $0.00001434, reflecting 8.5% intraday volatility as the memecoin reversed from early gains. Heavy selling pressure emerged around 03:00 GMT, when volume surged to 964.3 billion tokens, a 46% jump above the daily average. This breakdown beneath $0.0000137 support solidified the bearish tone, with resistance reestablished near $0.0000144, the prior week’s rejection zone.
After consolidating between $0.0000129 and $0.0000131, BONK briefly rebounded 5.3% to $0.00001309 during the late-session recovery attempt. Short-term accumulation near $0.0000131 suggested traders were testing support, though momentum quickly faded. The muted follow-through underscores persistent caution as volumes eased below their earlier peaks.
Technically, BONK remains under pressure while trapped beneath its $0.0000137 resistance band. The pattern of lower highs and narrowing range consolidation points to an ongoing distribution phase. Traders are watching whether the token can hold above $0.0000129 — the current support floor — to avoid a deeper slide. A decisive move above $0.0000137 would be required to reestablish bullish footing and reverse the current trend.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
