BONK Price Exits the Chop Zone With 20% Pump — Rally Gathers Steam

Key Takeaways

• After weeks of consolidation, BONK broke above a symmetrical triangle on the 4-hour chart.
• Data reveals BONK’s Activity Retention Rate is climbing, suggesting growing user participation.
• With CMF and AO readings turning positive on the daily chart, BONK could break $0.000028.

Solana-based memecoin BONK is leading the market today, outperforming every other token in the top 100.

The token has surged 20% in the past 24 hours, briefly touching $0.000017, its highest level since June 11.

In this piece, CCN breaks down what’s driving BONK’s momentum and what could be next for the price.

BONK Flashes Strength

Since June 11, BONK has been trading within a symmetrical triangle on the 4-hour chart, a classic setup where price compresses between converging trendlines before a breakout. The upper line has acted as resistance, while the lower line provided support.

At press time, BONK had broken above that upper trendline, signaling a potential end to its recent sideways movement and suggesting upward momentum could follow.

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Following this move, CCN noticed that the Bull Bear Power (BBP) has formed higher green histogram bars. This rise in the BBP reading indicates that bulls are in control.

As such, BONK’s price might be looking to break the resistance at $0.000020. To support this, the green line of the Supertrend indicator is positioned below the memecoin’s current value, indicating support for the upswing.

If the indicator’s red line does not rise above the price, BONK might successfully break $0.000020.

Outlook Turns Brighter

Beyond the recent pump, some market analysts have also predicted that the BONK price rally is not over.

For instance, World of Charts, a pseudonymous analyst on X, noted that the memecoin might experience an extended recovery in the coming days.

“BONK breakout and retest have already confirmed, expecting a solid recovery in the coming days,” He stated .

Adding to the upward pressure, the Bonk team announced plans to burn 1 trillion tokens once the project reaches 1 million holders.

If that milestone is hit, the token burn would reduce BONK’s overall supply, potentially boosting the price if demand continues to climb.

From an on-chain perspective, Glassnode data shows that BONK’s Activity Retention Rate has spiked. This metric tracks the percentage of active addresses across two consecutive 30-day periods.

A high activity retention rate signals sustained participation, reinforcing the asset’s perceived utility and relevance. Conversely, a decline in retention doesn’t automatically imply a loss of interest.

Since it is the latter for the memecoin, it implies rising user engagement. If sustained, this could help BONK’s price add to its 20% increase.

BONK Price Analysis: Bullish

Just like the 4-hour setup, BONK’s daily chart is also flashing bullish signals. The price has broken out of its descending channel, a sign that momentum may be shifting firmly in the bulls’ favor.

In addition, the Chaikin Money Flow (CMF) has crossed above the zero signal line. This crossover indicates rising accumulation and fading distribution.

Should this remain the same, the memecoin might break above $0.000020. Supporting the trend, the Awesome Oscillator (AO) is also on the verge of crossing into the positive region, indicating bullish momentum.

If these indicators hold their position, BONK might hit $0.000028. Should buying pressure increase, it could reach $0.000040 in the mid-term.

However, this forecast might not become a reality if selling pressure increases. If that were to happen, BONK’s price might slide below $0.000010.