|
Getting your Trinity Audio player ready...
|
Solana-based meme coin BONK has shaken up the market, rallying 70% over the last ten trading sessions. At press time, BONK was up 13% in the past 24 hours, trading around $0.00002508. The token has even outperformed major names like Bitcoin and Dogecoin during its explosive climb. But what’s fueling this surge, and can the momentum hold?
Bonk.fun Fuels BONK’s Meteoric Rise
One major catalyst behind BONK’s surge is the Bonk.fun launchpad, which has seen a stunning rise in adoption. According to DeFiLlama, the platform generated over $7.93 million in fees in just one week, peaking at $1.27 million on July 11.
Significantly, 58% of Bonk.fun’s revenue goes into buying back the coin, injecting consistent demand into the market. Influencers and analysts argue that this structural tailwind is still underappreciated by many traders.
In fact, Bonk.fun recently overtook its main rival, Pump.fun, in daily revenue, launch volume, and Solana token deployments—claiming 61% of total launchpad revenue in a single 24-hour period.
BONK Faces Familiar Resistance at Key Price Level
While the momentum remains strong,the coin is now testing a critical resistance zone at $0.00002626, the same level that triggered a reversal in April 2025. The memecoin has again broken a descending trendline, a technical signal that previously led to a price spike before a swift pullback.
With the Relative Strength Index (RSI) at 70, BONK is technically in overbought territory, raising caution about a potential short-term correction. However, BONK remains above its 200-day Exponential Moving Average (EMA)—a strong bullish signal that confirms the ongoing uptrend.
Also Read: BONK Builds Momentum as Bulls Eye $0.00002840 Breakout Level
Exchange Outflows Signal Bullish Accumulation
Despite technical caution, investors appear undeterred. According to CoinGlass, exchanges have recorded an outflow of $1.88 million worth of BONK, a sign that holders are moving assets off exchanges into wallets—a classic indicator of accumulation and long-term confidence.
This divergence between technical caution and on-chain bullishness could play a key role in BONK’s next move. If momentum holds and BONK breaks past resistance, it may target the $0.0000364 level—a potential 37% upside from current prices.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
