BONK, the Solana-based meme token, experienced significant price fluctuations over the last 24 hours, influenced by both selling pressure and substantial accumulation. The token moved within an 8% range between $0.0000197 and $0.0000212, consolidating near $0.0000205.
The most intense selling occurred on the evening of Aug. 25, when BONK dropped about 5%, from $0.0000208 to $0.0000197, with trading volume exceeding 1.8 trillion tokens, significantly above daily averages.
Buyers returned at these levels, establishing technical support around $0.0000197 and pushing prices back into a narrow consolidation range between $0.0000203 and $0.0000205.
Corporate involvement bolstered market confidence. Safety Shot Inc., a Nasdaq-listed company, confirmed a $30 million financing arrangement on Aug. 25, with $25 million allocated in BONK tokens. This deal highlights increasing interest in meme coins as part of broader corporate finance strategies, underscoring BONK’s position as a notable Solana-based alternative to established meme assets.
BONK displayed resilience on Tuesday, rising from $0.0000203 to $0.0000204 (a modest 0.3% gain). Notably, between 11:49 and 11:56 UTC, trading activity surged, with over 17.5 billion tokens exchanged, indicating robust liquidity even during consolidation periods.
This balance between institutional adoption and heightened volatility positions BONK as a closely monitored meme token within the Solana ecosystem.
Technical Analysis
- Range: $0.0000197–$0.0000212 (8% volatility).
- Correction: 5% decline during the evening of Aug. 25.
- Volume Spike: 1.81 trillion tokens exchanged during the selloff.
- Support Zone: Established near $0.0000197.
- Consolidation: Prices held between $0.0000203–$0.0000205.
- Momentum: 1% gain during rally supported by 17.5B tokens.
Disclaimer: Parts of this article were generated with the assistance of AI tools and reviewed by our editorial team for accuracy and adherence to RialCenter’s standards.
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