The Solana-based meme token $BONK faced strong selling pressure on Tuesday, falling 3.4% to $0.0000143 as the broader Solana ecosystem came under stress. Despite the decline, buyers appeared near support, hinting at a possible base formation in the short term. 📉➡️📈
BONK broke below its $0.0000146 key support level, confirming a short-term bearish breakdown, according to data from CoinDesk Research. The move came alongside a massive 122% surge in trading volume, signaling that large players — including institutional and algorithmic traders — were actively repositioning during the selloff. 💹
The token traded within a highly volatile 24-hour range of nearly 6.2%, with volume spiking to 1.26 trillion BONK tokens around 20:00 GMT. After peaking at $0.0000152, the meme coin printed lower highs before cascading toward the $0.0000143 zone, where buyers finally stepped in.
Late-session activity showed fresh accumulation, as BONK rebounded slightly to $0.00001433, forming a higher low — a potential early sign of stabilization. The token now sits in a tight consolidation band between $0.0000143 and $0.0000144, with resistance near $0.0000146 acting as the first hurdle for recovery. 🔄
Analysts expect range-bound trading to continue in the near term, with accumulation opportunities for short-term traders eyeing a technical bounce. As the Solana market digests recent volatility, BONK’s next moves will determine whether this meme favorite can regain momentum — or face another leg down. ⚠️