BONK Drops 3.9% to $0.00001223 on Heavy Volume as Technical Weakness Persists

BONK fell 3.9% to $0.00001223 on Wednesday memecoin has fallen below key support levels amid a sharp increase in business activity.

The token traded between $0.00001279 and $0.00001198, a wide intraday range of 42% that reflects lingering 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 spike aligned with a clean breakdown through $0.00001211, a support level that had held during the previous week. The breach established $0.00001200 as the next psychological level while converting the $0.00001226 – $0.00001257 area into immediate immediate resistance.

Intraday data shows BONK drifting lower from $0.00001237 to $0.00001220, with volume breakouts at 13:42 (55.1B) and 14:00 (76.8B) confirming continued distribution. Attempts to recover towards previous support stalled quickly, and the decrease in trade sizes in the last hour suggested a limited appetite for reversals.

With the token still trading near its newly formed lower boundary, the next directional move depends on whether BONK can recover 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: Parts of this article were generated with the assistance of 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.