Markets, AI Market Insights, Technical Analysis, News Institutional capital and Solana ecosystem growth fuel optimism for memecoin utility.
BONK, the Solana-based meme token, advanced 4% in the last 24 hours, reaching $0.0000218 before settling around $0.0000213.
The strongest push came at 19:00 UTC on Wednesday, when BONK jumped 1.9% from $0.0000211 to $0.0000215, propelled by a 574.8 billion-token volume spike. Sellers capped momentum at $0.0000215, yet support consistently re-emerged near $0.0000212, reinforcing the token’s resilience.
BONK traded within an 8% intraday range, reflecting persistent volatility, according to CoinDesk Research’s technical analysis data model.
Institutional confidence in Solana continues to grow. Galaxy Digital, Multicoin Capital, and Jump Crypto are spearheading a $1 billion Solana investment fund, supported by Cantor Fitzgerald’s infrastructure. The initiative exceeds existing Solana allocations by 150%, and could channel significant liquidity into Solana-native projects, with BONK among the ecosystem’s most actively traded tokens.
Separately, beverage company Safety Shot recently completed a $25 million BONK allocation to finance the majority of a $30 million raise. While the announcement came earlier this week, it remains a milestone for meme coin adoption in corporate treasury management. Together, these developments demonstrate how BONK is moving beyond its origins into institutional conversations about liquidity and diversification.
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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