BONK’s price declines over 4% to $0.00001174 as the token fails to hold key support, signaling renewed bearish momentum amid growing trading volume.
Introduction: BONK Faces Sharp Decline After Losing Critical Support
The Solana-based meme token BONK (BONK/USDT) faced renewed selling pressure this week, falling 4.06% to $0.00001174 after a failed attempt to reclaim a critical resistance level. The breakdown below the $0.000012–$0.000013 support zone has sparked concerns among traders that the token may be entering a deeper bearish phase.
The decline comes amid a surge in daily trading volume exceeding 1.2 trillion BONK, signaling increased market activity and potential capitulation among short-term holders.
Recent technical analysis shows that BONK has broken below its key support region, represented by the orange demand zone in the chart, which had previously acted as a strong accumulation area since April. The failure to sustain above this range suggests weakening bullish momentum.
The chart highlights multiple resistance bands, including the green zone near $0.000018, the brown zone around $0.000024, and a major supply zone at $0.000040. A sustained move above these levels would be required to shift the market sentiment back to bullish.
“Losing the lower support with volume expansion usually confirms a continuation of weakness,” said BitXJournal market analyst. “If buyers don’t step in soon, BONK could retest its lower historical levels before finding a base.”
The descending price pattern and rising sell volume reinforce a bearish structure, while momentum indicators point to limited upside potential in the short term.
Despite the pullback, some traders view the correction as a healthy reset after months of volatility. The broader Solana ecosystem remains active, and BONK continues to maintain strong community engagement, which could help stabilize prices in the longer run.
Still, as long as BONK trades below the $0.000013 resistance, the technical outlook remains cautious, with sellers likely to dominate until a decisive breakout confirms a reversal.
The coming sessions will determine whether BONK can reclaim lost ground—or extend its decline toward new multi-month lows.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.