BONK has fallen 3.8% in the last 24 hours to $0.00001402 as the Solana-based meme coin failed to sustain its recent rebound.
After testing the upper range near $0.00001518, the token fell steadily during the Asian and European trading hours.
The drop came amid a surge in trading activity, with 1.13 trillion tokens changing hands, 71% above the seven-day average, according to CoinDesk Research’s technical analysis data model.
The increase in trading volume reflected defensive positioning as traders trimmed exposure after BONK repeatedly failed to hold above the $0.0000146 to $0.0000150 resistance band.
Price action turned decisively bearish on Wednesday night as BONK fell below $0.0000142, confirming renewed short-term weakness.
From a technical point of view, the BONK pattern now reflects a short-term descending channel, with lower highs from the October 29 peak and steady support around the $0.0000138–$0.0000140 zone. Momentum indicators remain neutral to bearish, suggesting consolidation rather than an immediate recovery. A close above $0.0000143 would be needed to signal a fresh rise, while sustained pressure below $0.0000139 could expose the next downside target near $0.0000137.
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.
