BONK Goes Ballistic: Solana’s Memecoin Rallies 55% in 7 Days—Dead Cat Bounce or Trend Reversal?

Solana’s infamous dog-themed token shakes off bear market dust with a violent green candle. Traders scramble as the ’degenerate darling’ breaches key resistance levels for the first time since 2024.

Technical indicators scream overbought—but since when did that stop crypto? The rally coincides with renewed retail interest in Solana NFTs, proving once again that in crypto, fundamentals are optional when memes are involved.

Wall Street analysts remain predictably baffled while bagholders suddenly remember their seed phrases. Whether this pumps or dumps next week depends entirely on which influencer tweets a dog picture first.

BONK/USD Technical Analysis: Breaking Out of the Downward Spiral

Following an all-time high of $0.00005916 in November 2024, BONK went into a protracted decline that drove the token to lows of $0.00000885 in early April 2025. A death cross in February reaffirmed the negative attitude even further, usually taken as a strong sell signal by technical analysts.

But BONK has now successfully broken above its declining trendline, which had set its price since December 2024. To support, the token has effectively reversed the 50-day exponential moving average (now at $0.0000121) and 100-day exponential moving averages, therefore laying strong basis for more upward movement.

Technical Indicators Signal Strong Momentum

Now several important technical signs point to BONK’s surge having legs:

• Currently above 69, the relative strength index (RSI) shows strong purchasing momentum although still somewhat below overbought zone, implying room for more rises until tiredness.
• Trading volume has surged 98% to almost $478-490 million in 24 hours, offering significant liquidity to assist the price action.
• From $11 million on April 22 to $43.2 million on April 26, Boonk’s futures open interest tripled. Although this has since dropped to $28 million, it still shows far greater than levels recorded since December 2024, suggesting rising speculative interest.
• Chart watchers have noted BONK breaking out from a bullish pennant formation in shorter timeframes with possible goals around $0.00002690.

BONK’s Surge Part of a Broader Memecoin Recovery

With its whole market capitalization jumping 17.5% last week to $55.51 billion, BONK’s exceptional performance fits a bigger memecoin industry comeback. Other outstanding memecoin performers are Official Trump (Trump) with 69% weekly gains and Base’s BRETT (BRETT), which rallies 84% over the same period.

After Bitcoin price crossed the $94,000 milestone, the rebound shows the risk-on attitude among crypto investors returning. Over the past week alone, memecoin trading volume crossed $7.96 billion, marking an 85% weekly rise.

Solana Ecosystem Strength Provides Foundation

BONK’s comeback aligns with increasing strength all around the Solana ecosystem. Positive spill-over effects for tokens inside Solana’s distributed finance (DeFi) sector have resulted from rising network activity and development there.

This ecosystem-wide rebound implies that BONK’s price behavior might be connected to more general principles than just speculative trading, so implying a more sustainable increase.

Bonk’s Rising Social Sentiment Amplifies Interest

Using Santiment data, BONK’s social dominance index jumped from 0.091% to 0.572% between April 20 and April 26. Rising retail and institutional interest reflected in this explosion of social media chatter may intensify FOMO (fear of missing out) and stimulate more demand.

BONK Price Prediction

Closely monitoring the $0.00002410 level, which corresponds with the 200-day simple moving average (SMA), analysts are Along with high volume, a daily candlestick close above this level could see BONK rise toward the January 2025 range high NEAR $0.000040 – a possible 104% increase from current levels.

Some hopeful traders are expecting far bigger profits. Popular analyst World of Charts said on social network X: “expected 2x in the next days; declining trendline got cleared.” Other projections, meantime, point to possible targets ranging from $0.00002690 to as high as $0.00068, although such significant changes would depend on ongoing momentum.

Although the sudden increase in RSI to overbought territory at 71 could help profit-taking and a temporary pullback, the general technical structure points to BONK perhaps positioned for ongoing gains following any possible consolidation.