BONK price held strong during the PUMP ICO, extending its 30-day rally by nearly 80%
Repeated bounce-backs suggest sustained buyer control and strong upward pressure.
After breaking out of a falling wedge, BONK is eyeing a move toward $0.000047 or higher.
Solana-based memecoin BONK surged to a six-month high over the weekend, defying expectations of capital rotation ahead of the PUMP token Initial Coin Offering (ICO) on Pump.fun.
While some speculated that the new PUMP token would siphon attention and liquidity away from the BONK ecosystem, the meme coin extended its month-long rally to $0.000027.
So, what’s next for BONK as the PUMP token prepares to enter the open market? Let’s find out.
BONK Steals the Show from PUMP
On July 12, Pump.fun concluded its much-anticipated PUMP token sale, raising a staggering $500 million.
Up to the event, concerns circulated that the ICO could drain liquidity from BONK, particularly as LetsBonk — a competing launchpad — had been steadily taking market share from Pump.fun.
Yet, those fears never materialized. Contrary to expectations, BONK’s price continued climbing, shrugging off any impact from the capital inflow into PUMP. In fact, the memecoin extended its rally, with its value soaring nearly 80% in the past 30 days.
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From a technical perspective, the 4-hour chart shows that the meme coin resisted downward pressure each time sellers attempted to lower the price.
At one point, BONK dropped to $0.000020, only to rebound. The price again slid during the heightened anticipation surrounding the PUMP token ICO.
This time, to $0.000022, buyers stepped in once more, driving a recovery.
These consistent recoveries suggest that buyers remain in control. The Moving Average Convergence Divergence (MACD) and Chaikin Money Flow (CMF) also backed the thesis.
Interestingly, LetsBonk.fun still captured about 67% of the total launchpad volume last week despite the PUMP ICO. Should this trend continue, it could help accelerate the BONK price’s extended rally.
BONK Price Prediction: Bullish
CCN’s daily BONK/USD chart analysis reinforces the bullish sentiment surrounding the Solana-based memecoin. During this timeframe, BONK successfully broke out of a falling wedge.
Adding to the momentum, the Money Flow Index (MFI) has surged to 90.65, signaling intense buying pressure.
Typically, an MFI reading above 80 suggests that an asset is in overbought territory, but in the context of a fresh breakout, it also confirms strong capital inflows backing the move.
If buying momentum persists, BONK’s price could challenge and break the $0.000034 resistance. In addition, the Awesome Oscillator (AO) has turned positive, indicating rising bullish momentum.
If this position remains the same, the BONK memecoin might rise toward $0.000047. In a highly bullish scenario, it could climb to $0.000059.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
