Crypto Express

07/21 01:53

BONK Investors continue to accumulate

In the past week, BONK investors have intensified their accumulation, amounting to $33.22 million during this phase.

Spot market participants led the charge, purchasing $31.44 million worth of BONK, according to CoinGlass’ Spot Exchange Netflow data.

These tokens were moved into private wallets, suggesting a long-term investment outlook, a move that has historically preceded market rallies.

Smart Money investors contributed another $1.78 million. Though relatively small, this was the largest smart money inflow for any memecoin in the Solana ecosystem over the past week, according to Nansen.

Historically, BONK’s smart money holders have been known for profitable bets, which indicates that this capital influx may reflect expectations of an incoming rally.

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