Institutional Demand Fuels BONK Breakout Amid Burn Plan, Holder Surge

Description

BONK saw a 15% breakout , driven by a jump in trading activity and rising on-chain traction. With open interest increasing 9% and derivatives volume also higher, market participants are signaling increased conviction in the Solana-based meme token’s upside potential, according to CoinDesk Research's technical analysis data model. Much of the excitement stems from BONK’s evolving fundamentals. The project recently announced plans to burn 1 trillion tokens , a move that could significantly reduce ...