BONK Rallies 12% After Grayscale Adds Meme Coin to Institutional Watchlist
BONK, a meme coin built on the Solana blockchain, surged 12% intraday after Grayscale Investments added it to its institutional monitoring list—signaling growing recognition of meme assets by traditional asset managers.
The token jumped from $0.0000250 to a high of $0.0000281 before settling around $0.0000265, still marking a 6.2% daily gain.
The move was fueled by a spike in volume starting around 15:00 UTC on July 13, peaking at 05:00 UTC on July 14 with over 2.6 trillion tokens traded, more than double BONK’s daily average. The surge marked renewed momentum and investor interest following the Grayscale news.
Market Highlights:
- Resistance was confirmed at $0.0000281, where prices faced strong selling pressure.
- Support was established at $0.0000264, reinforced by institutional re-entries during brief pullbacks.
- In the final hour of trading (09:37–10:36 UTC), BONK saw a volatile 3% swing, ranging between $0.0000260 and $0.0000268 before stabilizing.
Technical Summary:
- Trading Range: $0.0000247 – $0.0000281 (14% volatility)
- Peak Volume: 2.6 trillion tokens traded at 05:00 UTC
- Support Zone: $0.0000264, backed by multiple rebounds
- Resistance Level: $0.0000281, confirmed as short-term cap
- Late Session: Market stabilized near $0.0000266 with sustained demand
BONK’s rally reflects increasing institutional interest in niche digital assets. Analysts say that if the token maintains strength above the $0.0000260 support zone and breaks above the $0.0000281 resistance, a continuation of the uptrend could follow.
