Bonk ($BONK) has increased by 22.1% in the past 24 hours and is trading at $0.00003508, as traders piled back into the Solana meme token amid renewed volatility. This marked an 81.1% increase over the last seven days, indicating a sharp reversal from the depths of early July and a resurgent bullish sentiment.
Over the last two years, $BONK has evolved from a playful Solana meme token into a robust community-driven asset with substantive integrations, clear tokenomics, and growing institutional interest.
There is a total supply of 88.87 trillion $BONK tokens, with 50 trillion tokens allocated to airdrops targeting genuine Solana users—an approach lauded for prioritizing community over insiders.
Its utility extends beyond tipping and trading: the Bonkbot Telegram tool facilitates SPL token trades that generate fees, having amassed $194.6 million in fees since launch.
$BONK is growing its operational footprint by embedding into launchpads like LetsBonk and Bonkfun to increase its revenue streams and platform rankings.
The Bonk ecosystem spans DeFi, NFTs, and GameFi, with Bonkbot’s revenue model proving its DeFi credentials through $54.8 million in annualized fees according to DefiLlama.
The protocol now integrates with over 400 decentralized applications and ranks as the second‑most used token on Solana after $SOL.
Governance also matured with the formal launch of Bonk DAO, empowering holders to vote on funding, burns, and ecosystem initiatives via on‑chain proposals.
$BONK’s July rally was powered by a landmark burn-and-adoption cycle that shifted its narrative from niche memecoin to a significant Solana player.
Institutional endorsement grew alongside community fervor, as Grayscale added BONK to its asset watchlist, indicating broader legitimacy.
Additionally, $BONK forged a first‑of‑its‑kind validator partnership with Nasdaq‑listed DeFi Development Corp. (DFDV) in May, co‑managing a Solana node and sharing rewards. This move bolstered network security and broadened staking options.
Is BONK’s Parabolic Advance Sustainable? Fib Levels and Volume Tell the Story
The $BONK/$USDT 4‑hour chart shows a pronounced parabolic advance, with price climbing along an accelerating curve after a prolonged consolidation near $0.00001450–$0.00001800.
The move broke out from that base with increasing volume, suggesting fresh momentum. A parabolic curve is visible, supporting the idea that the rally has entered a steeper phase of ascent, where pullbacks tend to be shallow until momentum exhausts.
A Fibonacci retracement drawn from the recent swing low ($0.00001165) to the current high shows key support zones in case of a retracement.
The initial support, at the 0.236 level ($0.00002929), will likely attract buyers in shallow corrections. The 0.382 level ($0.00002590), which is a deeper but still bullish retracement level, aligns with prior resistance-turned-support. The strongest support zone is at the 0.618 level ($0.00002041), likely a consolidation area if a deeper correction unfolds.
If profit-taking emerges, these levels may act as stepping stones for buyers, with $0.00002041 being a key area for sustaining the broader uptrend.
On the short-term volume footprint (30‑minute data), the market shows a sequence of bullish imbalances, most evident around the $0.00003200–$0.00003280 range and again near $0.00003420–$0.00003440.
These areas reflect aggressive buying where bid-side liquidity was insufficient to absorb demand, often leaving price gaps in the auction. Such imbalances tend to act as magnets or short-term support on retests.
The current price action hints at a run toward $0.00003600, assuming the RSI cools off without collapsing. That’s the key—no violent rejection.
However, if it fails to hold above $0.00003600, traders might see the $BONK token retesting $0.00003100, that old consolidation period when things got sticky in the past.
Traders should watch the MACD closely. At press time, the momentum is weakening there. Anything is possible, but volume confirmation would still be critical.
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