On November 12, 2025, the Solana-based meme token BONK saw a significant 5% drop to $0.00001223, following a failed attempt to break through a key resistance level near $0.0000130. This rejection was accompanied by a sharp 48% spike in trading volume, underscoring a strong sell-off conviction and leaving the token testing crucial short-term support.
A Market-Wide Retreat
The decline for BONK did not occur in a vacuum; it was part of a broader downturn in the crypto market. The same day, its native blockchain, Solana (SOL), also pulled back by 4.9%, partly pressured by continuous token unlocks from assets associated with the bankrupt Alameda Research estate. This created a wave of selling pressure across the Solana ecosystem, amplifying outflows for network-linked tokens like BONK. The token’s high volatility was on full display, with intraday price swings reaching 6.6%.
Technicals Signal Bearish Control
The price action confirmed a technically weak picture. The rejection at the $0.0000130 resistance level was a clear victory for sellers, reinforcing the prevailing downtrend. While BONK found tentative support at $0.00001223, preventing a steeper fall, the overall structure suggests a consolidation phase between this support and the next resistance near $0.00001295. For any hope of a short-term recovery, the market would need to see a confirmed breakout above $0.00001350 supported by sustained high volume.
Contrasting Signals and the Path Forward
This technical weakness presents a contrast to some fundamental developments. Despite the price drop, the BONK ecosystem continues to show signs of growth, with its launchpad, LetsBonk.fun, now ranking as the third-largest on Solana. However, the immediate future for BONK’s price appears tightly linked to its ability to defend its immediate support levels. A break below the $0.00001223 support could intensify the downward trend. For traders and investors, the key milestones to watch are a sustained hold above this support or a decisive breakout above the $0.0000130-$0.00001350 resistance zone, which would require a significant return of buyer conviction.
