BONK, the Solana-native meme cryptocurrency, declined nearly 5% over the last 24 hours, sliding from $0.000028 to $0.0000266.
Price rejection near $0.000029 during the 16:00 hour was supported by elevated transaction volume of 764.44 billion tokens, a signal of aggressive distribution from larger holders, according to CoinDesk’s technical analysis data model.
Support attempts at $0.000026 were bolstered by spikes in trading activity above 1.17 trillion tokens during the midnight and 08:00 UTC intervals, but these inflows proved insufficient to reverse the broader downward trend.
The selloff continued during the European. afternoon, with BONK falling 3% intraday from $0.000026 to $0.0000254, led by volume spikes above 59 billion tokens at 13:54 UTC. This breakdown from the $0.000026 floor has now created a descending channel formation, establishing a new bearish structure with price action drifting toward the psychologically significant $0.000025 zone.
BONK saw a slight recovery durin
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