Bonk price jumps over 100% from April low, mirroring the strong rally seen across top Solana meme coins in recent weeks
The bonk price has experienced a triple-digit increase since reaching a low of $0.000008870 in April, which is consistent with the performance of other prominent Solana meme coins.
This rally is a component of a broader recovery among Solana meme currencies, as the collective market capitalization of these assets has increased from $6 billion in April to $15 billion today.
As investors have embraced the fear of missing out, bonk has also rallied. The number of BONK holders is approaching one million, as indicated by SolScan data. On Monday, the spot trading volume reached a multi-month high of $1.1 billion, which has also been driven by increasing interest.
Additionally, the recent surge in Fartcoin, which began in March, contributed to the rally. Investors were encouraged to adopt additional Solana meme currencies, including Bonk, as a result of its upward trajectory.
The ongoing Bonk price increase is a result of macro factors, such as the US-China trade agreement, as is the case with other cryptocurrencies. It is also occurring as investors purchased the dip following its collapse from $0.000060 in November of last year to $0.0000089.
Bonk Price Develops a Potentially Bearish Pattern
From its 2025 low of $0.000008870 in April, Bonk has increased by more than 163%, as evidenced by the daily chart, reaching a high of $0.00002588.
At $0.000020, it has now surpassed the 50-day moving average and surpassed the 23.6% Fibonacci retracement level. In the interim, the Relative Strength Index (RSI) and other oscillators continue to ascend.
Nevertheless, there is a possibility that the coin is on the brink of reversing, as these oscillators have reached an overbought state. Additionally, the coin has developed an ascending wedge pattern, which is a widely recognized reversal sign.
As the price approaches the wedge’s apex, a rising wedge is frequently indicative of a potential reversal, as it is formed by two upward-sloping, converging trendlines. The psychological zone around $0.000015 will be the next critical support level to monitor if this occurs.
