BONK Jumps 6.5% as Solana-Based Meme Token Captures Market Share

BONK posted a strong recovery on July 24, gaining 6.5% in value from $0.0000335 to $0.0000357 during the 24-hour window ending 14:00 UTC. The Solana-based meme token rebounded from an earlier dip to $0.0000311, recording an 18% trading range before closing near its daily highs. Price action was fueled by renewed institutional interest and mounting traction across the BONK ecosystem. The recent Solana developer proposal to increase block size by 66% has injected fresh momentum into the BONK market, reinforcing the meme token's bullish trajectory. As Solana’s network scales to accommodate rising demand, BONK—built natively on the blockchain - stands to benefit directly from enhanced throughput and lower latency. This infrastructure upgrade signals long-term confidence in Solana’s capacity to support high-volume applications like BONK’s LetsBonk platform, which has already captured 64% of the meme token launchpad market. Trading volume exceeded 2.1 trillion tokens during key recovery phases, with accumulation patterns evident at the $0.000032 support zone. Notably, the price pushed toward resistance at $0.000037 before encountering a profit-taking selloff to consolidate around $0.0000363. Amid broader crypto market rotation , BONK’s performance stood out as institutional investors and retail participants pivoted to alternative assets. The meme token's sustained upside momentum and expanding utility base suggest resilience as market participants seek exposure to higher-beta assets during periods of macroeconomic uncertainty. Technical Analysis BONK traded between $0.0000311 and $0.0000363, marking an 18% intraday swing. Strong support confirmed near $0.000032; resistance solidified near $0.000037. Volume surpassed 2.1 trillion tokens during recovery and breakout phases. Institutional accumulation was visible during key dips throughout the session. Late-session volume spike of 39 billion tokens occurred between 13:58–14:01 UTC. Trading narrowed to a 3% band ($0.000035–$0.000036) in final hour of analysis. 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 .