BONK Drops 4% With Volatility Exceeding Altcoin Average
0Memecoin trades with 50% price spread intraday.
BONK traded under sustained selling pressure on Wednesday falling 3.9% to $0.00002383 in 24 hours.
The Solana-based memecoin swung between a high of $0.00002486 and a low of $0.00002360, a range that translated to 50.3% volatility, well above the altcoin average, according to CoinDesk Research's technical analysis data model.
Multiple attempts to reclaim higher ground were rejected near the $0.00002480 resistance zone, where persistent selling capped intraday rallies.
Volume surged to 682.03 billion tokens during the 21:00 UTC hour on Aug. 5, coinciding with price stabilization near $0.00002360, a level that saw repeated intervention by buyers.
The token saw a sharp 0.53% rebound during the European afternoon on Wednesday, rising from $0.00002374 to $0.00002387. The gain came after the token dipped to $0.00002361. Volume exceeded 35 billion tokens between 13:36 and 14:04 UTC, indicating a blend of institutional accumulation and possible short covering as traders repositioned.
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.
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
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https://www.coindesk.com/markets/2025/08/06/bonk-drops-4-with-volatility-exceeding-altcoin-average
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