BONK, Solana’s top-performing meme coin, is on fire. With a 9.26% surge in the last 24 hours and a staggering 34.67% weekly rally, BONK is once again holding dominance in the top gainers list. The coin is currently trading at $0.00001841, lifting its market cap to $1.48 billion, and pushing 24-hour trading volumes to $582.99 million, up 31.58%. But what’s driving this rally, and is it sustainable? Join me as I give you the reasons behind the BONK price surge and the potential price targets.
Rumors are circulating that Tuttle Capital may soon file for a 2x leveraged BONK ETF, which has triggered a massive spike in social media buzz. While unconfirmed, the speculation alone is fueling retail investor demand.
As BONK inches closer to 1 million holders, the project is preparing for a significant 1 trillion token burn. This deflationary mechanism has sparked a supply shock narrative, reinforcing bullish sentiment.
The July 2 launch of the first Solana ETF has lifted most Solana-based assets, with BONK being a direct beneficiary of renewed institutional interest in the ecosystem.
BONK has broken out of a falling wedge pattern, typically a bullish reversal indicator. The breakout is backed by rising volume and improving technical indicators.
The chart shows BONK surging past the upper Bollinger Band and breaking free from a month-long downtrend channel. The RSI is currently at 64.31, just below the overbought threshold of 70, suggesting room for more upside.
With support now established near the breakout zone at $0.00001755, bulls are setting sights on the next resistance at $0.00002397, the previous high. If volume continues to rise, BONK could test this level in the short term. Conversely, any sharp reversal may find immediate support around the 20-day SMA at $0.00001453.
Also read our BONK Price Prediction 2025, 2026-2030!
BONK is rallying on ETF rumors, a looming token burn, and Solana ecosystem momentum.
The next major resistance lies at $0.00002397, which is a critical multi-week barrier.
Not yet, with RSI at 64.31, BONK still has room to climb before hitting overbought territory.
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