BONK Slumps 11% Then 4% After Support Break on Volume Surge
Solana-based meme token BONK price extended its decline after breaching multiple support levels on surging volume. In morning trading, BONK price plunged 11.2% to $0.00001232 following a break below the key $0.0000137 support as volume jumped 46% above the daily average. A modest rebound to $0.00001309 gave way to intensified selling pressure, pushing BONK price below $0.00001200 in the latest session. The token slid another 4.06% to $0.00001174 on 779.9 billion tokens traded—47% above average—testing a low of $0.00001197 after rejecting resistance near $0.00001248. Technical indicators point to a distribution phase marked by lower highs and narrowing ranges. Immediate resistance lies at $0.00001248–$0.0000137, while support now sits around $0.00001197–$0.00001200. Traders will watch whether volume stabilizes above average to fuel a bullish reversal or if a break below $0.00001197 sparks further losses.
Bearish
Persistent support breaks, high-volume selling, and weak momentum signal continued downside risk for BONK price in the short term. Unless average trading volume returns and buying interest emerges to fuel a reversal, the token is likely to face further losses.