Bonk (BONK) Price Prediction: Will the Memecoin Continue Its Strong Upward Trajectory?

Bonk (BONK), a memecoin built on the Solana blockchain, has seen a strong price recovery since April 22.

The price of Bonk (BONK) has seen a strong recovery since April 22, supported by a surge in futures market activity and presence on social media.

This had pushed the token up nearly 57% from a low of $0.000012 to a high of $0.000021 on April 28, before settling around $0.000020. Over the past 24 hours, the token was up by 3%, and over the past week, it recorded a 60% gain.

At the time of writing, BONK was trading at $0.00001988, up 2.98% for the 24 hours

This had also pushed the token's market capitalization to briefly hit $1.7 billion on April 28 before pulling back to about $1.5 billion.

But this was still an increase from $864 million on April 22.

For comparison, the total market capitalization of the memecoin sector reached $57.51 billion this week. This is an increase of 17.5% in just one week.

Total trading volume for meme tokens hit nearly $7 billion. This is up 85% from the previous week.

This had come as traders returned to riskier assets and interest in memecoins continued to grow.

Major tokens like Dogecoin (DOGE) and Shiba Inu (SHIB) also showed gains—up 9% and 10% respectively in the last seven days. Other meme tokens, such as Trump-themed token OFFICIAL TRUMP and Base’s Brett (BRETT), posted even higher weekly returns of 73% and 83%.

This had pushed the total market capitalization of the memecoin sector to $57.51 billion. This is an increase of 17.5% in just one week.

Total trading volume for meme tokens hit nearly $7 billion. This is up 85% from the previous week, as traders returned to riskier assets.

Futures Market Shows Strong Interest In Bonk

Alongside price growth, BONK has also seen a sharp rise in futures market activity. Open interest (OI), which tracks the total value of open futures contracts, surged 290%. It rose from $11 million on April 22 to $43.2 million by April 26. Although OI has since declined to $28 million, it remains much higher than levels recorded since December 2024.

The increase in open interest suggests growing interest from traders betting on BONK’s price movements. Most of this demand has come from traders opening long positions, expecting prices to continue rising. Higher funding rates on futures contracts further support this bullish outlook.

Moreover, BONK’s presence on social media has grown. Between April 20 and April 26, its social dominance jumped from 0.091% to 0.572%. This means more people are talking about BONK across platforms like Twitter and Reddit, helping to build hype and attract more investors.

This increased chatter often leads to stronger price action as fear of missing out (FOMO) kicks in—especially among retail traders.

This is evident in BONK’s recent price chart. After a period of consolidation and downtrend, the price broke out of a falling wedge pattern on 1-Day timeframe. This breakout occurred just above the resistance trendline drawn from the December 2024 high, signaling a potential trend reversal.

Furthermore, the price managed to move above all key exponential moving averages (EMAs)—20, 50, 100, and 200-day—which now act as support. This alignment is known as a bullish EMA crossover and is typically viewed as a strong uptrend signal.

Additionally, the Relative Strength Index (RSI) is currently around 70, suggesting that BONK is in overbought territory. While this might indicate a short-term pullback, it also confirms the presence of strong buying momentum.

As the price continues to rise, it may encounter resistance at the $0.000021 level. This zone coincides with a previous support level from early January 2025, which could pose a challenge to the bulls. However, if this resistance is broken, it could open the door for a move toward the $0.000030 mark, which acted as a local top in December 2024.

On the downside, if BONK retraces, support may be found at the $0.00001660 and $0.00001550 levels—marked by the 100-day and 200-day EMAs, respectively.