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.
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.
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.
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