BONK has pushed higher in recent trading sessions, gaining ground while market participants watch critical price levels. The memecoin rose 2.03% in the last 24 hours, bringing its value to $0.000009581 at the time of writing. The token gained 8.6% in the past week.
BONK price chart, Source: CoinMarketCap
The token now trades marginally below the $0.00001 mark, a psychologically significant threshold that has attracted considerable attention from market observers. Price action shows BONK moving up from $0.00000940, though upward momentum has encountered repeated barriers near $0.00000958.
Performance data indicates the memecoin has lagged behind broader market measures. BONK underperformed the CD5 crypto index by approximately 2% during this period. This divergence suggests traders have concentrated on range-bound strategies rather than chasing directional moves.
Volume Activity Dominates Trading Pattern
Trading volume emerged as a defining characteristic of recent sessions. Activity levels jumped 78% above the 24-hour moving average late on December 7. Volume reached 1.06 trillion tokens as BONK validated support at the $0.00000900 level.
This spike in participation confirmed buyer interest at lower prices. The support zone has held through multiple tests, establishing a foundation for subsequent upward attempts. Market depth at this level suggests accumulation by participants willing to defend the price floor.
Following the volume surge, trading activity compressed into a tighter range. Multiple 60-minute periods saw price action concentrated between $0.00000952 and $0.00000956. This consolidation pattern reflects hesitation among market participants ahead of potential breakout moves.
Source: https://coinpaper.com/12961/massive-bonk-volume-spike-signals-something-big-is-coming
