BONK Jumps 12% as Grayscale Puts Token on Institutional Radar
BONK, the Solana-based meme token, surged as much as 12% over the past day after Grayscale Investments added it to its institutional monitoring list—a move that hints at rising interest from traditional finance in the meme-coin sector.
Prices climbed from $0.0000250 to a high of $0.0000281, before settling near $0.0000265, still marking a 6.2% gain for the session.
Momentum gathered steam around 15:00 UTC on July 13, fueling a high-volume breakout that peaked at 05:00 UTC on July 14. BONK recorded over 2.6 trillion tokens in volume during this surge—more than double its average daily turnover—pointing to significant activity from larger traders.
Technical Snapshot:
- Resistance: Firm selling pressure capped gains at $0.0000281.
- Support: Strong support emerged at $0.0000264, where institutional players appeared to accumulate during dips.
- In the final hour of trading, BONK fluctuated between $0.0000260 and $0.0000268, eventually stabilizing near $0.0000266 as buying interest resumed.
Market Highlights:
- Trading Range: $0.0000247 – $0.0000281 (14% intraday volatility)
- Peak Volume: 2.6 trillion tokens traded at the height of the rally
- Resistance Zone: $0.0000281 remains the key upside hurdle
- Support Zone: $0.0000264 established through repeated rebounds
Analysts say Grayscale’s monitoring move could pave the way for future investment products tied to BONK, potentially cementing its place in the institutional crypto landscape. A decisive break above $0.0000281 would signal the next stage of BONK’s bullish run.
