BONK has fallen 3.8% within the final 24 hours to $0.00001402 because the Solana-based meme coin didn’t maintain its latest rebound.
After testing the higher vary close to $0.00001518, the token fell steadily decrease by the Asian and early European buying and selling hours.
The decline got here amid a surge in buying and selling exercise, with 1.13 trillion tokens altering fingers — 71% above the seven-day common, in keeping with CoinDesk Analysis’s technical evaluation knowledge mannequin.
The heightened turnover mirrored defensive positioning as merchants trimmed publicity following BONK’s repeated failure to carry above the $0.0000146–$0.0000150 resistance band.
Value motion turned decisively bearish late Wednesday when BONK slipped beneath $0.0000142, confirming renewed short-term weak spot.
From a technical standpoint, BONK’s sample now displays a descending short-term channel, with decrease highs since Oct. 29’s peak and regular help across the $0.0000138–$0.0000140 zone. Momentum indicators stay neutral-to-bearish, hinting at consolidation quite than rapid restoration. A detailed above $0.0000143 could be wanted to sign renewed upside, whereas sustained strain under $0.0000139 may expose the following draw back goal close to $0.0000137.
Disclaimer: Elements of this text have been generated with the help from AI instruments and reviewed by our editorial workforce to make sure accuracy and adherence to our requirements. For extra data, see CoinDesk’s full AI Coverage.