BONK Outpaces Bitcoin and Ethereum with Staggering 17% Weekly Rally

BONK, the Solana-based memecoin, is flashing a major warning sign after a parabolic 17% weekly surge that has left Bitcoin and Ethereum in its dust. Analysts are cautioning that the asset's dramatic outperformance—including a 6.2% single-day jump on March 18, 2026—sets the stage for a potential 10% correction as speculative momentum peaks. The question now is whether BONK can sustain its breakneck rally or if a sharp pullback is imminent.

Can BONK Sustain Its Price Rally?

BONK’s rally comes amid a larger crypto market resurgence. The crypto sector saw an upswing after potential US-Iran de-escalation rumors. Moreover, the US removing certain sanctions on Russian oil may have also boosted investor sentiment.

However, the primary reason for BONK’s incredible rebound is likely due to the SEC’s recent verdict to classify Solana (SOL) as a digital commodity. Moreover, SOL-based digital collectibles, such as memecoins, would fall under non-securities. The move may have led to a massive boost in investor confidence for BONK.

BREAKING: The SEC has formally classified SOL as a digital commodity in its new crypto asset taxonomy, alongside BTC, ETH,  and 14 other assets.

SOL is not a security. pic.twitter.com/PnqpT46NdT

However, the crypto market is still not back at full potential. Investors may have put funds into BONK and other Solana-based memecoins based on the SEC announcement, but they may book profits, given the larger bearish market environment. Tensions in the Middle East are also far from over. Another escalation could lead to an other market crash. Memecoins, such as BONK, could face the brunt of the crash, if we head in such a direction.

CoinCodex analysts are also not sold on BONK’s latest price rally. The platform anticipates the memecoin to face a correction towards the end of this month, falling to $0.000004619 on March 27, 2026. Dipping to $0.000004619 from current price levels will entail a correction of about 33.10%