Meme Coin Gains Momentum as Safety Shot Commits $25M in Token Financing

BONK, the Solana-based meme token, endured sharp price swings during the last 24 hours, reflecting both selling pressure and large accumulation. The token moved within an 8% range between $0.0000197 and $0.0000212, ultimately consolidating near $0.0000205.

The heaviest selling occurred during the Aug. 25 evening, when BONK fell about 5% from $0.0000208 to $0.0000197 on trading volume exceeding 1.8 trillion tokens, substantially above daily averages, according to CoinDesk Research’s technical analysis data model.

Buyers reentered at these levels, building technical support around $0.0000197 and driving prices back into a narrow consolidation band between $0.0000203 and $0.0000205.

Corporate participation helped reinforce market confidence. Safety Shot Inc., a Nasdaq-listed company, confirmed a $30 million financing arrangement on Aug. 25, with $25 million denominated in BONK tokens. The deal reflects rising interest in meme coins as part of broader corporate finance strategies, underscoring BONK’s role as a key Solana-based alternative to established meme assets.

BONK showed signs of resilience on Tuesday, edging from $0.0000203 to $0.0000204 (a modest 0.3% gain). Notably, between 11:49 and 11:56 UTC, trading activity accelerated, with more than 17.5 billion tokens exchanged, suggesting liquidity remains robust even during periods of consolidation.

This balance between institutional adoption and heightened volatility positions BONK as a closely watched meme token within the Solana ecosystem.

Technical Analysis

• Range: $0.0000197–$0.0000212 (8% volatility).
• Correction: 5% decline during the evening of Aug. 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 during rally supported by 17.5B tokens.

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.