BONK Climbs 6.5% After 18% Intraday Swing, Fueled by Solana Network Enhancements and Launchpad Leadership
On July 24, BONK, the Solana-based meme token, surged 6.5%, rising from $0.0000335 to close near $0.0000357 during the 24-hour period ending at 14:00 UTC.
The token recovered from an intraday low of $0.0000311, trading within an 18% range before settling near its daily high. This strong bounce was supported by increased institutional interest and growing activity across the expanding BONK ecosystem.
A recent Solana developer proposal to boost block size by 66% added momentum to BONK’s bullish outlook. As Solana upgrades its network capacity to handle higher throughput and reduce latency, BONK — built natively on Solana — stands to benefit directly.
This infrastructure enhancement underscores confidence in Solana’s ability to support high-volume projects like BONK’s LetsBonk platform, which currently holds a 64% share of the meme token launchpad market.
Trading volumes exceeded 2.1 trillion tokens during key recovery phases, with significant accumulation observed around the $0.000032 support level. BONK approached resistance near $0.000037 before profit-taking led to consolidation around $0.0000363.
In a broader crypto market rotation, BONK’s strong performance attracted attention from institutional and retail investors seeking alternative assets. The token’s sustained upward momentum and expanding utility highlight its resilience amid ongoing macroeconomic challenges.
Technical Summary
- Intraday trading range of 18%, fluctuating between $0.0000311 and $0.0000363
- Support confirmed near $0.000032; resistance established at $0.000037
- Volume surpassed 2.1 trillion tokens during rebound and breakout attempts
- Institutional accumulation visible during dips
- Late-session volume spike of 39 billion tokens recorded between 13:58 and 14:01 UTC
- Trading narrowed to a 3% range ($0.000035–$0.000036) in the final hour
