BONK Surges 6% as Solana Ecosystem Momentum Sparks Investor Interest

BONK has rallied 6%, recovering from earlier declines to reach $0.000036. The Solana-native meme coin traded in a wide 12% range, moving between $0.00003276 and $0.00003670, with pronounced volatility offering opportunity for accumulation by strategic buyers.

Price momentum was strongest between 12:00 and 13:00 UTC on July 28, when BONK surged to its daily high of $0.00003670 on exceptional volume of 3.8 trillion tokens, according to CoinDesk's technical analysis data model.

High-intensity buying also emerged during the 13:32–13:35 UTC interval, where trading volumes topped 115 billion tokens per minute, a move which appeared to signal institutional confidence.

The rally coincided with encouraging network-level data for Solana. Non-fungible token (NFT) trading activity on Solana hit a Q3 high on July 28, with total daily sales and unique buyers rising to their strongest levels since mid-June, according to SolanaFloor. This renewed momentum across Solana’s broader ecosystem likely contributed to BONK’s bullish reversal, reinforcing market conviction in the meme token’s ecosystem positioning.

Technical Analysis

• BONK traded between $0.00003276 and $0.00003670, a 12% intraday range.
• Volume exceeded 3.8 trillion tokens during midday rally from 12:00–13:00 UTC.
• Price rebounded 1% from $0.00003590 to $0.00003629 in the final hour.
• Key support held at $0.000033, with institutional bids during price dips.
• 13:32–13:35 UTC marked the highest minute-by-minute volumes at 115B tokens.
• Solana NFT activity hit Q3 highs on July 28, according to SolanaFloor.

Disclaimer: 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.

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