Memecoin Climbs Toward $0.000024 Amid Sector Rotation

BONK rallied more than 9% in the last 24 hours, advancing from $0.000022 to a peak of $0.000024.

The trading range spanned $0.000002, representing significant volatility, with momentum heavily concentrated in the early morning hours, according to CoinDesk Research’s technical analysis data model.

Trading volume exceeded 1.2 trillion tokens during key rebound attempts at 06:00 and 07:00 UTC, underscoring strong short-term demand.

The rally met stiff resistance at $0.000024, where advances were rejected, confirming this level as a near-term ceiling. Support developed around $0.000023, while bulls pressed higher during the early morning breakout, late-session trading showed signs of exhaustion.

Between 11:53 and 12:52, BONK declined 1.14% from $0.000023459 to $0.000023190, as volume spiked above 35 billion tokens in a concentrated wave of selling. That reversal erased part of the earlier rally and left the token consolidating just above its established support zone.

The performance comes amid shifting dynamics within the memecoin sector. While BONK and dogecoin DOGE$0.2421 remain heavily traded, newer projects such as LayerBrett and Little Pepe are capturing market share by offering staking mechanisms and layer-2 integrations. Social engagement for legacy meme tokens has cooled, while traders are rotating into tokens with utility-driven models.

Technical Analysis

• BONK rallied 9% from $0.000022 to $0.000024 in 24 hours.
• Support consolidated at $0.000023 with buying pressure during repeated tests.
• Resistance hardened at $0.000024 with consistent rejection on high volume.
• Trading volume peaked at 1.2 trillion tokens during morning breakout attempts.
• A decline erased 1.14% from intraday highs.
• A sell-off between 12:30–12:45 UTC carried volume spikes above 35 billion tokens.
• Intraday lows at $0.000023180 hint at possible trend reversal signals.

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.