TLDR:

BONK gains over 75% in 7 days, reclaiming key resistance on heavy volume.
24-hour volume surged to $3.2B, marking a 66.5% daily increase.
Analysts credit buybacks and token burns for renewed market confidence.
Some warn BONK may face correction unless it breaks all-time highs.

Bonk (BONK), the Solana-based memecoin, is back in the spotlight after a sharp surge in price and market activity. 

Investors have rushed back in as BONK jumped over 25% in 24 hours and more than 75% in the past week. However, the rapid rise has also raised questions about its stability at current levels. While momentum seems strong, concerns are growing about a possible correction ahead. The token’s sudden spike has made traders excited and cautious.

BONK Breaks Key Levels with Volume Surge

According to data from CoinGecko, BONK is now trading at $0.00003927, with a 24-hour volume of over $3.2 billion. 

BONK price on CoinGecko

This marked a 66.5% increase in volume compared to the previous day. The price ranged between $0.00003067 and $0.0000392 over the past 24 hours.

Over the past seven days, the memecoin moved from a low of $0.00002184 to near its previous highs. Market watchers note that this range breakout is not only technical but also driven by new capital inflows. The surge points to renewed investor interest and stronger liquidity.

Traders like Mike S noted BONK cleared the $0.00003 resistance and continued upward without pause. He pointed to daily buybacks exceeding $500,000 as a key catalyst behind the strong price action.

Another trader, Kadense Pengu, highlighted that the SOL meme has regained its long-term trendline. He added that the current rally is backed by better fundamentals than the 2023 peak, including token burns and rumored ETF interest.

$BONK regained the long term trendlind and ripped through the first ATH in ’23 resistance

Last ATH in November did not have millions being deployed weekly in Buy/Burn or ETF filings in works

TLDR fundamentals and technicals say one thing:$BONK is going much much higher pic.twitter.com/b5E5aTs47c

— Kadense Pengu° (@iamkadense) July 16, 2025

These factors have brought attention back to BONK as Solana’s standout memecoin, drawing in both retail and institutional eyes.

Warnings Emerge Despite Bullish Tone

Despite the bullish narrative, some analysts are waving caution flags. A user named Nology pointed out that BONK has yet to face a true long-term correction. He compared meme’s chart structure to risky altcoins with limited downside history.

He explained that unless BONK pushes past a certain level near its all-time high, a correction may follow. While he expects one more upward move, he warned that a drop could still be ahead. Traders are advised to watch momentum indicators closely.

#BONK

I’m flashing a warning here.

Because the structure on $BONK is similar to a few #Altcoins that a lot more risk on them than others. Remember? #NotAllAltcoins. $BONK didn’t have a serious retracement down in its history. It’s basically been up and up with sideways… https://t.co/qAnsAVtewP pic.twitter.com/1Gw0iVqAXi

— Nology (@nology3000) July 17, 2025

Beyond price charts, BONK still holds weight as a cultural symbol within the Solana ecosystem. Its original airdrop helped spark broader interest in Solana during a downtrend. That influence continues, now backed by increased utility and deeper liquidity.

The memecoin space remains volatile, but BONK’s recent run shows it hasn’t lost steam. However, traders are reminded that sharp gains often come with increased risk, and momentum can shift quickly.

With eyes now set on retesting previous highs, BONK sits at a key turning point. Whether it holds or retraces could shape its next chapter.

 

The post Solana Memecoin BONK Price Explodes, But There’s a Catch appeared first on Blockonomi.

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Filed under: Bitcoin - @ July 17, 2025 6:20 am