BONK climbed more than 9% in the last 24 hours, advancing from $0.000022 to an intraday high near $0.000024, according to market data. The move tested short-term resistance and underscored renewed, if uneven, buying interest in the token.
Momentum was concentrated in the early morning session. The trading range spanned roughly $0.000002, and trading volume exceeded 1.2 trillion tokens during key rebound attempts around 06:00–07:00 UTC — a sign of strong but short-lived demand that helped drive the spike.
That rally ran into resistance at $0.000024, where advances were rejected and late-session trading showed signs of exhaustion. Support developed near $0.000023, but a reversal between 11:53 and 12:52 UTC erased about 1.14% of the intraday gains as price slipped from $0.000023459 to $0.000023190 while a concentrated sell wave pushed volume above 35 billion tokens.
Market context
The price action comes as attention in the memecoin market shifts from legacy tokens to newer projects that offer utility features such as staking and layer‑2 integrations. Younger tokens like LayerBrett and Little Pepe have attracted liquidity and social engagement by promoting these mechanics, while engagement around older meme names has cooled.
What traders should watch
Order-book depth at the $0.000023–$0.000024 zone, correlation with DOGE and the wider crypto market, on-chain flows and wallet concentration, plus announcements about staking or layer‑2 integrations from competing memecoins. Sustained inbound liquidity would support a genuine breakout.
From a technical perspective, intraday lows around $0.000023180 and repeated rejections at resistance suggest a consolidation phase rather than a sustained breakout. If BONK can reclaim $0.000024 on rising volume, traders will view that as confirmation of renewed upside; failure to do so increases the risk of further sideways or lower moves.
Risk note: BONK and other memecoins remain highly volatile. Short-term volume spikes can amplify moves both up and down, and this coverage is not investment advice. Monitor volume, order flow and broader market sentiment before trading.
Source: CoinDesk. Read the original coverage for full details.