Bonk-USD Slipped 2.4% in last 24 hours to $0.00001488retreating below its important psychological threshold at $0.000015. Despite the sharp sell-off, sentiment across meme coin traders remains cautiously optimistic on optimization 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 model. This spike suggests that while selling is strong, liquidity remains deep enough to support potential rebounds once selling pressure eases.
Bonk struggled to maintain momentum above $0.00001524, forming a series of lower highs that cemented a near-term downtrend. However, the coin’s stability around $0.00001488 hints at early accumulation from dip buyers positioning for a recovery back to the $0.00001500-$0.00001520 range.
Technical indicators point to consolidation rather than capitulation. Trading range widened to 5.2% intraday volatility, with leveraged positions not wanting the day’s lows near $0.00001487. Analysts now view $0.00001475 as the key inflection point; Holding above could pave the way for a rebound, especially if volume and relative strength contracts improve in the upcoming sessions.
While the recent move has caught some traders off guard, Bonk’s broader structure remains intact within its longer-term uptrend. As speculative interest continues throughout meme coins, any bounce above the $0.000015 resistance could trigger a short cover and updated bullish sentiment.
Disclaimer: Parts of this article were generated with help from AI tools and reviewed by our editorial team to ensure accuracy and compliance with our standards. For more information, see Coindesk’s full AI policy.
