BONK exhibited extreme volatility over consecutive days, swinging 15% on July 25 between $0.00003185 and $0.00003763 following a 500 billion token burn announcement. The initial surge reversed sharply when a Galaxy Digital-linked wallet transferred $18.75 million of BONK to exchanges, triggering a 9% drop within an hour. Technical analysis revealed strong support at $0.00003185-$0.00003230, with stabilization above $0.00003400 as bearish momentum faded.
The memecoin rebounded 6.5% on July 24, climbing from $0.0000335 to $0.0000357 amid 18% intraday swings. This recovery was fueled by institutional accumulation at $0.000032 support and a Solana developer proposal to increase block size by 66% – enhancing network throughput for BONK's LetsBonk platform, which commands 64% of the meme token launchpad market. Trading volume exceeded 2.1 trillion tokens during the rally before profit-taking capped gains near $0.000037 resistance.
Amid broader crypto rotation toward altcoins, BONK's volatility reflects conflicting pressures: bullish catalysts from supply reduction and Solana scalability upgrades versus bearish risks from whale movements. Institutional participation surged as traders sought high-beta exposure during macroeconomic uncertainty.