BONK Token Sees $2.4B Volume Surge and 7.27% Price Drop After Grayscale Watchlist Boost

BONKUSDT experienced notable volatility in the past 24 hours, with the price declining by 7.27% to $0.00003544 despite recent bullish momentum and significant institutional attention, including token burns and its addition to Grayscale's watchlist. The recent surge in trading volume, which reached approximately $2.4 billion, and a market capitalization exceeding $2.9 billion, were driven by strong market engagement and positive sentiment following technical breakouts and increased open interest. However, after reaching highs near $0.00004079, the price retraced, likely due to profit-taking and short-term corrections following the rapid gains observed earlier in the week. BONK remains highly active, with substantial trading volumes and ongoing market interest, but recent price action reflects a pullback after a period of strong upward movement.