Share this article
BONK Climbs 4% After Binance Reclassification. Then Dips on Profit-Taking
BONK saw a 4% surge and 3.19 trillion volume as Binance removed the risk tag; the price dipped late on profit-taking.
Jul 21, 2025, 4:59 p.m.
What to know:
- BONK gained 4% to reach $0.000036 before falling back to $0.00003492.
- Binance removed BONK’s “Seed Tag,” boosting institutional sentiment.
- Session high of $0.000037 met resistance with volume peaking at 3.19 trillion tokens.
BONK delivered a strong intraday performance on July 21, rising 4% to a high of $0.000037 before late profit-taking pulled the price back to $0.00003492, ending the 24-hour window with a +1.3% gain.
The Solana-based meme token benefited from renewed investor confidence following Binance’s removal of BONK’s “Seed Tag,” a label typically applied to higher-risk projects.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The upgrade, announced on July 21, aligns BONK with more established tokens, reducing perceived regulatory risk and opening the door to greater institutional participation. The news helped drive BONK’s explosive advance between 06:00 and 13:00 UTC, with volume soaring to 3.19 trillion tokens and price breaking upward from $0.000034 to test the $0.000037 resistance zone, according to CoinDesk's technical analysis data.
Technically, BONK traded in a $0.000045 intraday range, reflecting 14% volatility from trough to peak. The advance was marked by persistently higher lows and strong accumulation below $0.000035, but a clear ceiling formed at $0.000037, where distribution began to outpace demand, according to the model.
BONK thereafter fell 2% from $0.000036 to $0.000035. The 15:32 UTC candle alone saw 73 billion tokens traded, indicating profit taking near session highs.
Despite the pullback, BONK’s structural resilience and the positive reclassification signal by Binance suggest strong underlying sentiment. Traders now look to see if the $0.000035 support zone holds, which could lay the groundwork for another breakout attempt should volume return, the model showed.
Technical Analysis Highlights
- BONK traded in a wide $0.000045 range with peak volatility of 14%.
- Price rallied from $0.000034 to $0.000037 between 06:00–13:00 UTC.
- Session high at $0.000037 faced resistance with volume peaking at 3.19T tokens.
- Binance removed BONK’s Seed Tag, improving institutional perception.
- Price dropped 2% in final hour from $0.000036 to $0.000035 on elevated sell volume.
- 73B tokens traded at 15:32 UTC marked the session’s heaviest profit-taking.
- Support now seen at $0.0000345–$0.000035 ahead of next directional move.
- Current price: $0.00003492, up 1.3% over the 24-hour period.
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.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Strategy shares register first six-month losing streak since adoption of bitcoin strategy in 2020
Crypto analyst Chris Millas has highlighted an unusually persistent slump in Strategy shares, breaking with past drawdown patterns even as the firm continued accumulating bitcoin.
What to know:
- Strategy shares fell in each of the final six months of 2025, marking the first time since the firm adopted bitcoin in August 2020 as a treasury reserve asset.
- The decline stands out for its persistence, as past selloffs were often followed by sharp rebounds.
- The stock sharply underperformed both bitcoin and the Nasdaq 100 despite the firm's continued BTC purchases.
Top Stories
