BONK Climbs 6% on Institutional Bids as Solana NFT Markets See Q3 Breakout
BONK rallied 6% on July 28, reversing earlier losses as institutional flows returned and Solana’s NFT sector posted its strongest activity of the quarter.
The meme coin, native to the Solana blockchain, traded within a volatile 12% intraday range, swinging between $0.00003276 and $0.00003670. Momentum accelerated sharply between 12:00 and 13:00 UTC, as BONK surged to its daily high on volume exceeding 3.8 trillion tokens, according to CoinDesk’s data.
The most notable accumulation occurred during the 13:32–13:35 UTC window, when volume briefly spiked to 115 billion tokens per minute—indicating targeted, high-conviction buying, likely from institutional participants capitalizing on intra-day weakness.
BONK’s rebound was supported by positive on-chain signals from the broader Solana ecosystem. Solana NFT trading reached a Q3 peak on July 28, with total sales and unique buyers hitting their highest levels since mid-June, based on figures from SolanaFloor. The surge in network activity likely added fuel to BONK’s upside, reinforcing its relevance within the Solana token landscape.
Technical Summary:
- Price range: $0.00003276 to $0.00003670 (12% intraday spread)
- Peak rally volume: 3.8 trillion tokens (12:00–13:00 UTC)
- Strong close: BONK rebounded 1% in the final hour to end at $0.00003629
- Key support held: $0.000033 level saw visible institutional bids
- Highest per-minute volume: 115B tokens from 13:32–13:35 UTC
- Solana NFTs: Daily sales and buyers hit Q3 highs, per SolanaFloor
The combination of institutional accumulation and ecosystem-wide growth suggests BONK may continue to benefit from broader strength in the Solana network, particularly as sentiment improves across on-chain assets.
