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By Jamie Crawley, CD Analytics|Edited by Sheldon Reback
Aug 8, 2025, 2:18 p.m.
- BONK rose 1.7% over the past 24 hours, reaching $0.00002626.
- Resistance remains firm at $0.00002640, with sellers capping rallies.
- 24-hour volume exceeded 1 trillion tokens during recovery phases.
BONK, a Solana-based memecoin, advanced 1.7% in the last 24 hours to $0.00002626.
The token traded within a 4% range, with a high of $0.00002645 and a low of $0.00002485, producing a $0.00000160 spread, according to CoinDesk Research’s technical analysis data model.
STORY CONTINUES BELOW
The price rebounded from the low at 16:00 UTC on Aug. 7, moving toward the peak during the European morning on Friday. This recovery phase saw total volume surge above 1.09 trillion tokens, greater than the daily average. However, momentum stalled at $0.00002640, where repeated sell orders capped upward moves.
BONK subsequently held above $0.00002600 despite brief dips. A volume spike of 48.86 billion tokens at 12:07 UTC coincided with a failed breakout attempt past $0.00002615, reinforcing the established resistance zone. BONK may have consolidated below $0.00002630 for now, leaving traders focused on whether the token can break higher or face renewed selling pressure.
Market sentiment across memecoins remains cautious amid broader crypto volatility. Institutional flows have shown signs of rotation into more established assets, but BONK’s sustained support at $0.00002550-$0.00002600 suggests buyers remain active.
- Trading range of 4% spanned $0.00002485 to $0.00002645.
- Resistance confirmed multiple times at $0.00002640.
- Support zone established at $0.00002550–$0.00002600.
- Volume spike of 1.09 trillion tokens during rally phase.
- Failed breakout at $0.00002615 led to pullback.
- Elevated liquidity observed in the $0.00002580–$0.00002610 band.
- Intraday volatility produced several lower highs after peak.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
Jamie has been part of CoinDesk’s news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
CoinDesk Analytics is CoinDesk’s AI-powered tool that, with the help of human reporters, generates market data analysis, price movement reports, and financial content focused on cryptocurrency and blockchain markets.
All content produced by CoinDesk Analytics is undergoes human editing by CoinDesk’s editorial team before publication. The tool synthesizes market data and information from CoinDesk Data and other sources to create timely market reports, with all external sources clearly attributed within each article.
CoinDesk Analytics operates under CoinDesk’s AI content guidelines, which prioritize accuracy, transparency, and editorial oversight. Learn more about CoinDesk’s approach to AI-generated content in our AI policy.
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At the same time, bitcoin is seeing flattish price action, pushing the ETH/BTC ratio to nearly its highest level of the year.
What to know:
- Ether has risen above $4,000 in U.S. Friday morning action.
- Bitcoin has remained flat, pushing the ETH/BTC ratio to nearly its highest level of the year.
- Ether treasury company stocks are on the move higher as well on Friday.
