BONK slides to $0.00001232 as Solana-linked meme tokens face renewed selling pressure
The meme-fueled cryptocurrency BONK (BONK/USDT) extended its decline early this week, dropping nearly 14% to $0.00001232 after breaching a critical support zone. The move places BONK at its lowest level in over a month, as traders digest broader weakness across Solana-linked meme assets.
According to the daily chart, BONK broke decisively below the orange support band between $0.00001200 and $0.00001400, a range that had provided a price floor since mid-September. The breakdown comes amid rising volume — with over 397 billion BONK traded — signaling increased participation as sellers dominate the market.
Technical indicators show momentum weakening after the pair failed to reclaim the green resistance zone near $0.00002200, where multiple reversal attempts were rejected in October. This rejection formed a lower high, reinforcing the bearish structure.
“BONK’s inability to hold above its accumulation range suggests waning retail interest,” said one BitXJournal crypto market strategist. “The next significant support lies closer to $0.00001000, where prior demand zones emerged in June.”
Still, some analysts caution against counting BONK out entirely. The token previously recovered from similar breakdowns, forming descending wedge patterns before staging sharp rebounds. Should volume taper off and price stabilize near the current range, a technical relief rally toward $0.00001500–$0.00001700 remains plausible.
If the $0.00001200 floor gives way, however, BONK could revisit its June lows — marking a potential retracement of more than 25%. A sustained daily close above $0.00001450 would be the first signal of renewed buying strength, BitXJournal note.
Despite the short-term weakness, BONK continues to draw speculative attention within the Solana ecosystem, which has seen a surge in meme token experimentation. As of early November 2025, market participants are watching for signs of consolidation that could set the stage for BONK’s next directional move.
For now, the battle line is drawn between $0.00001200 support and $0.00001500 resistance — a zone that could determine whether BONK stabilizes or continues its downward slide.
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.