BONK, the Solana-based meme coin, caught fire on July 21 after Binance removed its “Seed Tag” — a classification typically assigned to high-risk assets. The reclassification marked a major credibility boost, aligning BONK with more established tokens and igniting a wave of investor enthusiasm. The token surged 4% to $0.000037 in early trading, briefly breaking into bullish territory as market participants anticipated a stronger breakout.
The momentum, however, was short-lived. Between 06:00 and 13:00 UTC, BONK experienced heightened volatility, with trading volume spiking to 3.19 trillion tokens. The price surged from $0.000034 to test the $0.000037 resistance, operating within a 14% intraday range. Technical indicators showed consistent accumulation below $0.000035 and a pattern of higher lows, signaling strong underlying demand.
Still, resistance proved stubborn. As BONK approached its upper range, sellers moved in. A single 15:32 UTC candle showed 73 billion tokens in trading volume, a clear sign of profit-taking near local highs. The price retraced nearly 2% by session close, settling around $0.00003492 — a modest 1.3% net gain on the day.
Despite the pullback, BONK’s outlook remains constructive. Binance’s reclassification removes a layer of regulatory caution, opening the door for broader market participation. The key level to watch is now the $0.000035 support zone. If that level holds and volume returns with strength, another breakout attempt could be on the horizon.