CoinDesk 2025-08-12 15:18:25

BONK Slides 6% to Test Key Support

BONK fell nearly 6% in the last 24 hours, dropping from $0.00002606 to $0.00002436 in a move that carved out a $0.0000028 range , roughly 10% of its trading spectrum. The decline accelerated after the token failed to hold gains near $0.000027 on Aug. 11, where volume spiked to 1.13 trillion tokens, well above the 24-hour average of 708 billion, according to CoinDesk Research's technical analysis data model. Selling pressure persisted into the morning of August 12, with BONK finding firm support around $0.000024 at 10:00 UTC on 889 billion tokens traded. BONK did see a bounce at the start of U.S. morning, when buyers stepped in and pushed the price up 3% to $0.000025. The rebound signaled possible short-term stabilization after the extended drawdown, forming $0.000024 as a key support to avoiding further downside. The volatility comes the day after Nasdaq-listed Safety Shot disclosed a $25 million corporate treasury purchase linked to BONK ecosystem development through its stake in the Bonk.fun launchpad — a move viewed by some analysts as a sign of increasing mainstream exposure for the meme coin sector. Technical Analysis Trading Range: $0.00002398–$0.00002674, a 10% spread over 24 hours. Resistance: Multiple rejections near $0.000027 on August 11 with high volume. Support: Strong base near $0.000024 on August 12 with 889B tokens traded. Volume Spike: 145B tokens during breakout from consolidation at 12:30 UTC. Recovery Move: 3% gain from $0.000024 to $0.000025 between 11:49–12:48 UTC. Breakout Trigger: Price cleared $0.000025 resistance at 12:22 UTC. Market Context: Bounce follows several days of heightened volatility in memecoins. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards . For more information, see CoinDesk's full AI Policy .

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