BONK has recently retested the upper boundary of a falling wedge pattern and maintained its breakout level on the daily chart, signaling a possible sustained rally. This technical strength is supported by bullish spot flows, with inflows surpassing outflows, highlighting growing accumulation pressure in the market.
Derivative trading activity also indicates rising speculative interest: open interest increased by 15.81% to $23.86 million, and derivatives volume rose 26.41% to $60.75 million. Positive funding rates and dense liquidation zones near $0.000021 suggest traders are increasingly confident in upward momentum, with potential for a short squeeze triggering further price acceleration.
Despite decreasing social media hype since late April, which may indicate a market consolidation phase, this quiet could precede a significant price movement. BONK currently trades around $0.0000204, reflecting a 5.32% gain over 24 hours and a 63.79% gain over the last month, significantly outperforming many memecoins since its launch after the 2022 bear market.
Smart money involvement is notable: a whale recently allocated over $680,000 to BONK, making it the most purchased token by smart investors over recent days. BONK has solidified its position as the fifth-largest memecoin by market capitalization ($1.6 billion) and continues to enhance its visibility through sponsorships and cultural projects.
Technical indicators project an optimistic price target near $0.0000397, representing over a 159% increase from current levels. The Relative Strength Index (RSI) remains neutral-to-bullish, suggesting the token has room to appreciate further. Key support lies between $0.000013 and $0.000015, while resistance is anticipated in the $0.000045 to $0.000055 supply zone.