BONK price jumps 22% as institutional interest renews. Discover what’s driving the Solana memecoin’s rally and its implications for crypto investors.
In the past 24 hours, Bonk ($BONK) has experienced a 22.1% increase and is currently trading at $0.00003508, as traders have re-entered the Solana meme token in response to the recent increased volatility. This represents an 81.1% increase in the past seven days, suggesting a significant turnaround from the lows of early July and a resurgence of bullish sentiment.
In the past two years, $BONK has transformed from a frivolous Solana meme token to a robust, community-driven asset with clear tokenomics, substantive integrations, and increasing institutional interest.
The supply of $BONK tokens is 88.87 trillion, with 50 trillion tokens designated for airdrops for genuine Solana users. This strategy is commended for prioritizing the community over insiders.
The Bonkbot Telegram tool’s utility is not limited to tipping and trading; it has accumulated $194.6 million in fees since its inception, enabling SPL token transactions that generate fees.
$BONK is expanding its operational footprint by integrating into launchpads such as LetsBonk and Bonkfun to enhance its platform rankings and revenue sources.
The Bonk ecosystem encompasses DeFi, NFTs, and GameFi, with Bonkbot’s revenue model demonstrating its DeFi credentials through $54.8 million in annualized fees, as reported by DefiLlama.
The protocol is currently integrated with over 400 decentralized applications and is the second-most frequently used token on Solana, following $SOL.
With the formal introduction of Bonk DAO, governance also matured, allowing holders to vote on funding, burns, and ecosystem initiatives through on-chain proposals.
A groundbreaking burn-and-adoption cycle propelled $BONK’s July rally, transforming its narrative from a niche memecoin to a significant Solana player.
The expansion of institutional endorsement and community enthusiasm coincided with Grayscale’s inclusion of BONK on its asset watchlist, signifying a broader legitimacy.
Furthermore, in May, $BONK established a unique validator partnership with Nasdaq-listed DeFi Development Corp. (DFDV), which involved the co-management of a Solana node and the share of rewards. This action enhanced network security and expanded the range of pledging options.
Is the Parabolic advance of BONK sustainable?
The $BONK/$USDT 4-hour chart displays a significant parabolic advance, with the price ascending along an accelerating curve following a protracted consolidation near $0.00001450–$0.00001800.
The move emerged from that base with increased volume, indicating it has gained new momentum. The notion that the rally has entered a steeper phase of ascent, characterized by shallow pullbacks until momentum is exhausted, is substantiated by a parabolic curve.
In the event of a retracement, the essential support zones are illustrated by a Fibonacci retracement drawn from the recent swing low ($0.00001165) to the current high.
Buyers are anticipated to be drawn to the initial support at the 0.236 level ($0.00002929) during shallow corrections. The 0.382 level ($0.00002590), a retracement level that is deeper but still bullish, aligns with previous resistance that has transitioned to support. The 0.618 level ($0.00002041) is the most robust support zone, and this will probably serve as a consolidation area in the event of a more substantial correction.
If profit-taking occurs, these levels may serve as stepping stones for purchasers, with $0.00002041 being a critical area for maintaining the broader uptrend.
On the short-term volume footprint (30-minute data), the market exhibits a series of bullish imbalances, which are most pronounced in the $0.00003200–$0.00003280 range and again near $0.00003420–$0.00003440.
These regions indicate aggressive purchasing, which frequently resulted in price gaps in the auction due to a lack of bid-side liquidity to absorb demand. These imbalances often serve as magnets or provide temporary assistance during subsequent assessments.
The price action suggests a potential move toward $0.00003600 if the RSI does not collapse. No violent rejection is the key.
Nevertheless, if it cannot maintain a price above $0.00003600, traders may observe the $BONK token retesting $0.00003100. This level was previously reached during consolidation when liquidity was limited.
Traders should attentively monitor the MACD. The momentum is waning at the time of publication. Although anything is feasible, volume confirmation would remain indispensable.
