BONK fell 3.9% to $0.00001223 on Wednesday as the memecoin fell below key support levels amid a sharp rise 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 volumes peaked at 1.07 trillion tokens, almost double the 24-hour average. That peak aligned with a clean break through $0.00001211, a support level that had held over the previous week. The breakout established $0.00001200 as the next psychological bottom while turning the $0.00001226-$0.00001257 zone into immediate overhead resistance.
Intraday data shows BONK falling from $0.00001237 to $0.00001220, with volume bursts clustered at 13:42 (55.1B) and 14:00 (76.8B) confirming the continued distribution. Attempts to reclaim previous support quickly stalled and declining trade sizes in the past hour suggested limited appetite for reversals.
With the token still trading near its newly formed lower boundary, the next directional move depends on whether BONK can reclaim 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 near-term outlook.
Disclaimer: Portions of this article were generated with the help of artificial intelligence tools and were reviewed by our editorial team to ensure accuracy and compliance. our standards. For more information, see CoinDesk’s full AI policy.
