BONK Price Drops 5% to $0.00001223 Following Key Resistance Rejection - Market Analysis

The meme cryptocurrency BONK experienced a 5% price decline, falling to $0.00001223 after facing strong rejection at a crucial resistance level. This technical setback indicates potential short-term bearish pressure for BONK as traders monitor key support levels. The rejection at this significant price barrier suggests the asset may need to consolidate before attempting another upward movement. Market analysts are watching BONK's trading volume and price action closely for signs of either recovery or further downward momentum in the coming sessions.