Institutional Tailwinds Lift BONK 12% After Grayscale Adds to Monitoring List

BONK Soars 12% as Grayscale Adds Token to Institutional Watchlist

BONK, a meme token native to the Solana network, rallied 12% in the past 24 hours after Grayscale Investments announced it had added the token to its institutional monitoring list—an indication of growing interest from traditional asset managers in the meme-coin space.

The token’s price surged from $0.0000250 to an intraday high of $0.0000281 before settling at around $0.0000265, still up 6.2% on the day.

Trading volumes skyrocketed beginning around 15:00 UTC on July 13, reaching a peak of over 2.6 trillion tokens at 05:00 UTC on July 14. This spike more than doubled BONK’s usual daily turnover, signaling robust interest among larger traders and institutions.

Technical Overview:

• Resistance: BONK hit resistance at $0.0000281, where selling pressure capped further gains.
• Support: Established at $0.0000264, with institutions stepping in during dips, suggesting ongoing accumulation.
• During the final hour of trading (09:37–10:36 UTC), the token swung between $0.0000260 and $0.0000268, ultimately stabilizing near $0.0000266.

Key Stats:

• Trading Range: $0.0000247 – $0.0000281 (14% volatility)
• Peak Volume: 2.6 trillion tokens at 05:00 UTC
• Resistance Zone: $0.0000281
• Support Zone: $0.0000264, validated by repeated rebounds

The inclusion of BONK in Grayscale’s institutional framework has sparked speculation about potential new investment products, which could further legitimize the meme token in the eyes of institutional investors. Analysts note that a sustained hold above support and a breakout past resistance at $0.0000281 could fuel BONK’s next leg higher.