BONK experienced aggressive volatility over a 24-hour period to end the week, swinging 15% between $0.00003185 and $0.00003763.
The Solana-based memecoin initially surged on the heels of a 500 billion token burn announcement before a Galaxy Digital-linked wallet moved $18.75 million worth of BONK to major crypto exchanges, triggering a 9% pullback in under an hour.
Despite the reversal, BONK stabilized above the $0.00003400 level with support in the $0.00003185-$0.00003230 zone, according to CoinDesk Research’s technical analysis data model. Trading activity surged as speculative flows responded to conflicting signals: bullish supply reduction versus the bearish pressure of potential sell-side liquidity injections.
📖 Related Reading
- 📰 Crypto Daybook Americas: Institutions Pile In Amid ‘High Conviction’ That Prices Will Grind Higher
- 📰 CRYPTO BILLS STUCK, ETH LEADS MAJORS, PUMP STARTS BUYBACKS
The broader crypto market’s shift toward altcoins continued to boost meme token trading volumes as with bitcoin’s market dominance weakening. BONK has benefited from increased institutional and retail attention, even as its price action remains volatile and sensitive to on-chain movements.
Technical Analysis Highlights
- BONK moved between $0.00003185 and $0.00003763, a 15% swing.
- The price dropped 9% from a peak at 15:00 UTC to $0.00003430 by 16:00 UTC.
- Strong support held at $0.00003185-$0.00003230 amid multiple overnight retests.
- From 03:00 UTC, the price rallied to $0.00003438, showing short-term stabilization.
- Between 11:10 and 12:09 UTC, BONK fell 2% to $0.00003433.
- Reduced volume during final minutes suggests declining bearish momentum.
** 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.
🔗 You Might Also Be Interested In
Crypto Daybook Americas: Institutions Pile In Amid ‘High Conviction’ That Prices Will Grind Higher
CRYPTO BILLS STUCK, ETH LEADS MAJORS, PUMP STARTS BUYBACKS
Crypto Daybook Americas: Bitcoin Holds Above $100K as Iran, Israel Trade Blows
💡 Stay updated with the latest cryptocurrency news and insights by following our website! 🔔 Bookmark this site to get first-hand blockchain and digital currency news!