BONK Price Drops 6.2% Amid High Trading Volume and Key Technical Level Shift

The price of the Solana-based meme coin BONK has experienced a notable decline of 6.2% over the last 24 hours. This downward movement coincides with a significant surge in trading volume, indicating heightened market activity and potential selling pressure. Analysts are closely monitoring this shift as the price action approaches and tests crucial technical support and resistance levels. The elevated volume suggests a decisive moment for BONK's short-term trend, with traders watching for either a breakdown or a rebound from these key areas. Market sentiment around meme coins remains volatile, and BONK's performance is being weighed against broader movements in the cryptocurrency market, particularly within the Solana ecosystem.