BONK Price Fluctuates Amid $30 Million Financing Deal from Safety Shot
BONK, the meme token on Solana, experienced significant price fluctuations in the last 24 hours, trading within an 8% range of $0.0000197 to $0.0000212 and consolidating around $0.0000205.
Key events included:
- On August 25, BONK fell 5% from $0.0000208 to $0.0000197 with a trading volume exceeding 1.8 trillion tokens.
- Buyers established support at $0.0000197, leading to a consolidation between $0.0000203 and $0.0000205.
- Safety Shot Inc. secured a $30 million financing arrangement, including $25 million in BONK tokens, highlighting corporate interest in meme coins.
- On Tuesday, BONK increased slightly from $0.0000203 to $0.0000204, supported by robust trading activity of over 17.5 billion tokens.
This mix of institutional backing and market volatility positions BONK as a significant player within the Solana ecosystem.
Technical Analysis
- Range: $0.0000197–$0.0000212 (8% volatility).
- Correction: 5% decline on August 25.
- Volume Spike: 1.81 trillion tokens exchanged during selloff.
- Support Zone: Established near $0.0000197.
- Consolidation: Prices held between $0.0000203–$0.0000205.
- Momentum: 1% gain supported by 17.5 billion tokens traded.