BONK Surges 12% as Grayscale Monitoring Sparks Institutional Momentum

BONK posted a sharp 12% intraday gain during the last 24 hours, climbing from $0.0000250 to $0.0000281 before settling at $0.0000265, up 6.2%.

The Solana-based meme token surged following news that Grayscale Investments included BONK in its expanded institutional monitoring framework, signaling rising interest from asset managers and potential future product development.

Trading momentum intensified beginning around 15:00 UTC on July 13, culminating in a high-volume breakout by 05:00 UTC on July 14. BONK recorded 2.6 trillion tokens in trading volume at its peak, more than double typical daily activity.

Technical levels confirmed resistance at $0.0000281, where price action encountered sell-side pressure. However, support was established at $0.0000264, with institutional traders seen re-entering positions during pullbacks, potentially setting up for a future breakout, particularly if BONK can maintain momentum above $0.0000260.

BONK also experienced a 3% swing during the final 60-minute session between 09:37 and 10:36 UTC, ranging from $0.0000260 to $0.0000268. While brief profit-taking drove prices to session lows around $0.0000260, renewed buying interest quickly stabilized the market.

Technical Analysis Highlights

• Trading range: $0.0000247–$0.0000281, representing 14% volatility during the institutional breakout window.
• Peak volume: 2.6T tokens traded at 05:00 UTC, reflecting high conviction interest from large buyers.
• Resistance zone: $0.0000281 confirmed by rejection pattern; next test could signal breakout continuation.
• Support zone: $0.0000264 identified as institutional accumulation band; firmed by multiple bounces.
• Intraday dip: Brief move to $0.0000260 met with heavy buying; volume exceeded 75B tokens in late-session activity.
• Recovery zone: Market stabilized around $0.0000266 as selling pressure eased, forming bullish continuation structure.

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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