BONK, the Solana-native meme token, experienced heightened volatility on Wednesday, recording a 3.9 percent drop from $0.00002477 to $0.00002383 over the 24-hour period. Despite the overall decline, the token’s price range widened dramatically, spanning $0.00001250 intraday—equivalent to a 50.3 percent swing between the session high of $0.00002486 and the low of $0.00002360, according to CoinDesk Analytics.
The extreme price dispersion reflected a confluence of retail-driven momentum and institutional activity. Data indicated a surge in sell orders near the $0.00002480 resistance level, capping bullish attempts, while accumulation emerged near $0.00002360 as market makers and hedge funds executed short-covering trades.
Volume analysis showed that 682.03 billion BONK tokens changed hands during the 21:00 UTC hour—a significant uptick compared with the 24-hour average volume of 480 billion. The heightened throughput coincided with a technical rebound, as BONK rose by 0.53 percent in the final trading hour, inching back to $0.00002387 on rising liquidity and dampened selling pressure.
On-chain metrics revealed that addresses holding between 10 million and 100 million BONK increased their balances by 1.2 percent during the rebound, suggesting growing interest among larger traders. Meanwhile, decentralized exchange order books displayed an improved bid-ask spread, with liquidity providers rebalancing positions after the sharp downturn.
Market strategists view the volatility spike as symptomatic of broader altcoin market behavior, where speculative tokens amplify macro trends. With Bitcoin and Ethereum trading in narrow ranges ahead of potential U.S. macroeconomic announcements, lower-cap coins like BONK often register outsized moves. Traders will watch for sustained support above $0.00002360 or renewed rejection near $0.00002480 to gauge the next directional bias.
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