Investor Optimism Around Solana Sends BONK Up 6%

BONK Rebounds 6% as Institutional Buyers Step In, Solana NFT Market Hits Quarterly Peak

Meme token BONK saw a strong 6% rebound on July 28, buoyed by signs of institutional accumulation and a surge in Solana NFT market activity that marked a quarterly high.

Trading remained volatile throughout the day, with BONK moving within a 12% range between $0.00003276 and $0.00003670. Momentum peaked between 12:00 and 13:00 UTC, when the token rallied to its daily high on trading volume exceeding 3.8 trillion tokens, according to CoinDesk’s technical data.

A spike in minute-by-minute activity occurred during the 13:32–13:35 UTC window, with volumes hitting 115 billion tokens per minute—suggesting the presence of institutional buyers taking advantage of short-term price dips.

Supporting the move was renewed strength across the Solana ecosystem. Solana’s NFT market recorded its highest daily sales and unique buyer count of the quarter on July 28, reaching levels not seen since mid-June, according to data from SolanaFloor. The uptick in on-chain engagement likely reinforced market confidence in BONK’s role within the Solana network.

Key Technical Insights:

• BONK traded between $0.00003276 and $0.00003670 (12% daily range)
• Midday rally volume surpassed 3.8 trillion tokens (12:00–13:00 UTC)
• Price recovered 1% in the final trading hour, closing at $0.00003629
• Strong support was observed at $0.000033, with institutional bids emerging during pullbacks
• Per-minute trading volume peaked at 115B tokens (13:32–13:35 UTC)
• Solana NFT activity reached Q3 highs in both daily sales and unique buyers (SolanaFloor)

BONK’s recovery highlights growing alignment between Solana ecosystem strength and token-specific momentum, with institutional participation playing a key role in supporting price levels.