Bonk Price Eyes 30% Surge Potential Despite Falling Open Interest

Highlights

Bonk’s on-chain metrics suggest market participants are accumulating.
Solana’s recent SEC win may spill over to Bonk in the coming days.
Bonk was one of the best-performing meme tokens in the last two weeks.

Bonk price is currently in a precarious position with falling prices and volume. However, the macro outlook promises a rebound in the coming days as price action approaches a potential support zone. Bonk is among the best-performing meme coins month-to-date (MTD) and promises even better performance if certain support levels hold.

The SEC retracted its decision to classify Solana and other digital assets as securities. This partial win for SOL may spill over to Bonk in the coming days, as the setup is already ripe for a rally.

Bonk Price Wants to Break Out

The price of Bonk traded at $0.00002637 during the London trading session on Wednesday, a 5.1% drop in the last 24 hours. BONK price is currently in an upward trend, with prices trending above both the 50-day (green line) and 200-day (black line) exponential moving averages (EMA), confirming bullish momentum. Additionally, the price is supported by a rising trendline, indicating a strong uptrend.

A minor resistance level exists around $0.0000292, which, if Bonk’s price breaks above, can rally 30% to the next major resistance around $0.00004. This level coincides with the previous highs and a significant supply zone. Conversely, if its price trends lower, it may find support at $0.0000255 (50-day EMA) and $0.0000225 (200-day EMA), below which the bullish ascending triangle will be invalidated.

The Relative Strength Index (RSI) is currently at 54.95, indicating a neutral stance but leaning towards bullish territory. This suggests that there is room for further upward movement. The Chaikin Money Flow (CMF) also supports this bullish assessment. Sitting at 0.06, it signals positive money flow into BONK and modest buying pressure.

Overall, the technical indicators and market patterns suggest that although the Bonk price action shows slight bearish tendencies, the general sentiment is bullish.

BONK On-Chain Metrics Signal Accumulation

Data from Coinalyze on Bonk’s on-chain metrics suggests market participants are accumulating. While open interest (OI) has been down 4% in the last 24 hours, the Long/Short (L/S) ratio has increased by 11.11% in the last week to 1.879.

The L/S ratio shows the percentage of investors who are long on the asset compared to those who are Short. Combined with the falling OI, it indicates that market participants are holding on to their Bonk tokens, anticipating a price increase soon.

Dune OI

According to Dune Analytics, Bonk has been among the best-performing meme tokens in the last two weeks. Its price increased by 18.7% over the 14 days, coming in behind BOME and COQ.

Bonk

A significant drop in Bonk trading volume could impact and invalidate this bullish scenario. Additionally, if the L/S ratio drops, it would signify that investors are losing confidence in Bonk price ability to rebound. This may consequently result in a sell-off that would invalidate the current bullish market structure.

Frequently Asked Questions (FAQs)

1. What technical indicators suggest a potential Bonk price surge?

Bonk's price is trending above both the 50-day and 200-day exponential moving averages (EMA), indicating bullish momentum.

2. How does Solana's SEC win affect Bonk?

Solana's partial win against the SEC, where Solana and other digital assets were not classified as securities, could positively impact Bonk. This legal development may spill over to Bonk, contributing to its bullish setup.

3. What could invalidate the bullish outlook for Bonk?

A significant drop in Bonk's trading volume or a decrease in the L/S ratio could indicate waning investor confidence. Such changes may lead to a sell-off, invalidating the current bullish market structure.

Trending
Price Analysis

Best Crypto Presales To Invest In September 2025 – Top Upcoming Presale Tokens

Best Crypto AI Trading Bots In 2025

Top Meme Coins To Buy In September 2025

Evans Karanja

Evans Karanja is a crypto analyst and journalist with a deep focus on blockchain technology, cryptocurrency, and the video gaming industry. His extensive experience includes collaborating with various startups to deliver insightful and high-quality analyses that resonate with their target audiences. As an avid crypto trader and investor, Evans is passionate about the transformative potential of blockchain across diverse sectors. Outside of his professional pursuits, he enjoys playing video games and exploring scenic waterfalls.

Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.