Bonk (BONK) Turns Bullish, Skyrocketing 60% Ahead of Solana Accelerate Event

The meme-fueled token on the Solana chain, BONK, has recently turned bullish, skyrocketing a massive 60% over the past week as the broader Solana meme coin sector also prints massive gains.

After months of downward drift, BONK has finally broken free of its bearish shackles, reclaiming key moving averages and lifting sentiment among both retail and institutional traders.

The rally has been further fueled by the anticipation of the “fun stuff” teased ahead of Solana Accelerate, an upcoming event scheduled for May 19-23 in New York City.

The Dog has more fun stuff coming at Accelerate 👀Who’s gonna be in NYC?

— BONK!!! (@bonk_inu) April 28, 2025

Technical Breakout and Fib Levels

BONK broke out of a multi-month descending parallel channel on April 13, flipping both the 50-day and 100-day exponential moving averages into support.

According to CoinMarkerCap data, BONK is currently trading at $0.00001934, nearly reaching an intraday high of $0.00002167 on April 28. This marks a 73% increase from its local low of $0.00001247 on April 22.

The recent rally pushed BONK above the key 1.618 Fibonacci level at $0.00001990. If bulls manage to maintain control and volume continues to rise, the next upside targets lie at the 2.618 Fib, currently placed at $0.00002517, followed by the 3.618 level, aiming for a price of $0.00003044.

The final major Fib extension, 4.236 at $0.000