Latest news with #meme token
Yahoo
6 days ago
- Business
- Yahoo
BONK Climbs 4% After Binance Reclassification. Then Dips on Profit-Taking
BONK delivered a strong intraday performance on July 21, rising 4% to a high of $0.000037 before late profit-taking pulled the price back to $0.00003492, ending the 24-hour window with a +1.3% gain. The Solana-based meme token benefited from renewed investor confidence following Binance's removal of BONK's 'Seed Tag,' a label typically applied to higher-risk projects. The upgrade, announced on July 21, aligns BONK with more established tokens, reducing perceived regulatory risk and opening the door to greater institutional participation. The news helped drive BONK's explosive advance between 06:00 and 13:00 UTC, with volume soaring to 3.19 trillion tokens and price breaking upward from $0.000034 to test the $0.000037 resistance zone, according to CoinDesk's technical analysis data. Technically, BONK traded in a $0.000045 intraday range, reflecting 14% volatility from trough to peak. The advance was marked by persistently higher lows and strong accumulation below $0.000035, but a clear ceiling formed at $0.000037, where distribution began to outpace demand, according to the model. BONK thereafter fell 2% from $0.000036 to $0.000035. The 15:32 UTC candle alone saw 73 billion tokens traded, indicating profit taking near session highs. Despite the pullback, BONK's structural resilience and the positive reclassification signal by Binance suggest strong underlying sentiment. Traders now look to see if the $0.000035 support zone holds, which could lay the groundwork for another breakout attempt should volume return, the model showed. Technical Analysis Highlights BONK traded in a wide $0.000045 range with peak volatility of 14%. Price rallied from $0.000034 to $0.000037 between 06:00–13:00 UTC. Session high at $0.000037 faced resistance with volume peaking at 3.19T tokens. Binance removed BONK's Seed Tag, improving institutional perception. Price dropped 2% in final hour from $0.000036 to $0.000035 on elevated sell volume. 73B tokens traded at 15:32 UTC marked the session's heaviest profit-taking. Support now seen at $0.0000345–$0.000035 ahead of next directional move. Current price: $0.00003492, up 1.3% over the 24-hour period. Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
16-07-2025
- Business
- Yahoo
Institutional Demand Fuels BONK Breakout Amid Burn Plan, Holder Surge
BONK saw a 15% breakout, driven by a jump in trading activity and rising on-chain traction. With open interest increasing 9% and derivatives volume also higher, market participants are signaling increased conviction in the Solana-based meme token's upside potential, according to CoinDesk Research's technical analysis data model. Much of the excitement stems from BONK's evolving fundamentals. The project recently announced plans to burn 1 trillion tokens, a move that could significantly reduce supply and strengthen the case for long-term appreciation. The community is pushing aggressively toward reaching 1 million on-chain holders, a symbolic milestone for adoption, which will also trigger the aforementioned burn. The momentum kicked off on July 14 at 13:00 UTC, with BONK rising steadily from $0.000027 and peaking at $0.000031 by 07:00 on July 15. That rally was accompanied by massive activity — over 3.5 trillion tokens were traded during the peak hour, marking a period of institutional-grade breakout volume. Grayscale's inclusion of BONK on its asset watchlist further signaled a shift in perception, as meme tokens evolve from speculative plays to legitimate vehicles for market participation. With deflationary mechanics, deepening liquidity, and growing institutional validation, BONK may be primed for further momentum in the days ahead. BONK rallied 15% to $0.000031 (July 14 13:00–July 15 12:00 UTC). Trading volume topped 3.5 trillion tokens during the 06:00–07:00 UTC breakout phase. Open interest surged 9%, while derivatives activity spiked sharply. A planned 1 trillion BONK token burn introduces a deflationary catalyst. Price consolidated at $0.000028 following the rally; support held at $0.000026 BONK spiked 2% in minutes at 12:30 UTC on 75 billion tokens exchanged. Current price: $0.0000294, with daily gains of 7.8% and bullish structure intact. Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
