Bonk (BONK) Surges: Weekend Rally Eyes May’s Peak as Meme Coin Mania Returns

Meme coins are back in the spotlight—and Bonk (BONK) is leading the charge. A weekend rally has catapulted the Solana-based token toward its May highs, leaving traders scrambling to catch the next wave.

Is this a sustainable breakout or just another crypto sugar rush? Let’s break it down.

The Bonk Bounce: Retail FOMO or Real Momentum?

BONK’s latest pump mirrors the wild volatility meme coins are known for. No fundamentals, no problem—just pure speculative frenzy. Classic crypto.

Solana’s Meme Machine Revs Up

As Solana’s ecosystem thrives, BONK rides the coattails. Network activity and low fees keep the meme cycle spinning—until the music stops, of course.

Cynical Finance Jab:
Another day, another token surging because… well, why not? At least this one has a dog mascot.

Will BONK reclaim its May peak? Place your bets—responsibly, or not. This is crypto, after all.

TLDR

• BONK surged 25% in 24 hours over the weekend, breaking a downtrend that persisted since mid-May
• LetsBONK platform overtook Pump.fun in daily volume, becoming the first to dethrone the Solana launchpad leader
• Open Interest increased 8% while price gained 4%, showing strong speculative activity
• Technical analysis points to $0.000025 as the next target, with resistance at $0.000026
• Platform success drives deflationary pressure through token burns using half of fee revenue

Bonk has broken from its persistent downtrend with a 25% surge over the weekend. The meme coin rally comes as market sentiment shifts toward risk-on assets.

The MOVE beyond $0.000018 on July 5th marked the first true sign of recovery. This breakout occurred after months of sideways trading following the May highs.

Data from Coinalyze shows BONK gained 4% in the past 24 hours. Open Interest increased by 8% during the same period, indicating strong speculative activity.

Trading volume has surged over recent days. The On-Balance Volume indicator soared past the highs from May, showing sustained buying pressure.

The technical setup displays a six-month cup and handle pattern formation. This pattern suggests potential for continued upward movement.

Platform Dominance Drives Adoption

LetsBONK has become the first platform to overtake Pump.fun in daily volume. The new launchpad led with 9,570 token launches compared to Pump.fun’s lower count.

Market share data from Jupiter shows LetsBONK holding 54.8% of the market. Pump.fun’s share dropped to 34.9% as retail liquidity flows to the new platform.

LetsBONK recorded $129 million more in 24-hour trading volume despite having half the active addresses. This suggests higher per-user activity levels.

The platform uses half of its fee revenue to buy and burn BONK tokens. This creates deflationary pressure on the token supply.

Fee revenue also funds BONKsol purchases, a liquid staking token that generates yield. This yield supports further token buybacks and community initiatives.

Technical Targets and Resistance Levels

The current price action targets the $0.000025 level from the May highs. Fibonacci analysis shows the 23.6% extension level at $0.0000298 as a viable target.

However, the weekly chart structure remains bearish until $0.000026 flips to support. This level represents a key resistance zone.

Liquidation heatmap data confirms the $0.0000256-$0.0000262 region as a concentration point. This cluster could cause a bearish reversal or minor pullback.

The cup and handle pattern projects a top at $0.00003170, representing 36% upside potential. The 1.618 Fibonacci extension sits at $0.0000365, offering a more natural target.

MACD indicators show a strong uptrend with the line widening above the signal. This suggests bulls maintain market dominance.

The RSI has pushed above the overbought threshold at 75, signaling potential buyer exhaustion. A pullback to the 0.618 Fib level at $0.0000195 WOULD maintain the broader breakout structure.

Bitcoin’s price movement will likely affect the altcoin market including meme coins. A drop below $107.3k could flip short-term market expectations bearishly.

LetsBONK processed 203 graduations in the past 24 hours compared to Pump.fun’s 58, with platform adoption continuing to drive BONK’s deflationary mechanics.