BONK Drops 3.9% to $0.00001223 on Heavy Volume as Technical Weakness Persists

BONK fell 3.9% to $0.00001223 amid a significant increase in trading activity, with volumes rising nearly 96% above the 24-hour average. This decline followed a breach of key support at $0.00001211, leading to new resistance levels forming around $0.00001226. Intraday trading saw BONK fluctuate between $0.00001279 and $0.00001198, indicating ongoing technical weakness. Trading volumes peaked at 1.07 trillion tokens during this time, marking a stark increase which prompted concerns about potential further declines. Despite attempts to recover, the token was unable to regain previous support levels. Analysts indicated that failure to reclaim the $0.00001226-$0.00001230 band could lead to retesting the $0.00001200 level, which now serves as a psychological threshold for traders. Overall, the market sentiment remains cautious as BONK navigates this critical phase of its trading dynamics.

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