BONK-USD slipped 2.4% over the past 24 hours to $0.00001488, retreating below its crucial psychological threshold at $0.000015. Despite the sharp selloff, sentiment across meme coin traders remains cautiously optimistic as the asset consolidates near short-term support.
The breakdown came amid a volume surge, with 749.86 billion tokens traded — roughly 38% higher than the daily average, according to CoinDesk Research’s technical analysis data model. This spike suggests that while the selloff was forceful, liquidity remains deep enough to support potential rebounds once selling pressure eases.
BONK struggled to sustain momentum above $0.00001524, forming a series of lower highs that reinforced a near-term downtrend. Still, the coin’s resilience around $0.00001488 hints at early accumulation from dip buyers positioning for a recovery back toward the $0.00001500–$0.00001520 range.
Technical indicators point to consolidation rather than capitulation. The trading range widened to 5.2% intraday volatility, with leveraged positions unwinding at the day’s low near $0.00001487. Analysts now view $0.00001475 as the key inflection point; holding above it could pave the way for a rebound, especially if volume contracts and relative strength improves in upcoming sessions.
While the recent move rattled some traders, BONK’s broader structure remains intact within its longer-term uptrend. As speculative interest persists across meme coins, any bounce above the $0.000015 resistance could trigger short covering and renewed bullish sentiment.
Disclaimer: Parts of this article were generated with the assistance from 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.
