BONK Token Rises 4% Amid Increased Institutional Investment in Solana
The Solana-based meme token BONK increased by 4% in the past 24 hours, reaching $0.0000218 before stabilizing at $0.0000213.
Key points include:
- BONK experienced a notable spike at 19:00 UTC on Wednesday, rising 1.9% from $0.0000211 to $0.0000215 with a trading volume of 574.8 billion tokens.
- Sellers capped gains at $0.0000215, but support remained strong around $0.0000212.
- The token traded within an 8% intraday range, highlighting ongoing volatility.
- Institutional interest in Solana is increasing with Galaxy Digital, Multicoin Capital, and Jump Crypto leading a $1 billion investment fund aimed at Solana projects.
- Beverage company Safety Shot secured a $25 million allocation for BONK as part of a $30 million fundraising effort, marking a significant step for meme coins in corporate finance.
These developments indicate BONK's transition into more serious discussions about liquidity and diversification within institutional settings.