streamoors
IGNITION
Quantus
Sui
Zcash
Ethereum
Pearl
Key Insights:
- BONK defies the market trend with a 7.50% price uptick, all thanks to Grayscale and Solana (SOL) potential ETF approval.
- Open interest rose from $11.72 million to nearly $56 million in July 2025, indicating bullish confidence.
- With the ongoing price uptick, BONK has still opened its path for a 20% rally.
In the past couple of weeks, BONK, the popular Solana-based meme coin, has garnered significant attention from investors and traders due to its impressive performance. According to TradingView data, BONK has recorded a price increase of over 120% in the past two weeks.
In doing so, it has broken through multiple hurdles, including the 200-day Exponential Moving Average (EMA) and a key resistance level at $0.0000264.
BONK Defies Market Trend with a 7% Price Uptick
It all started with a shift in market sentiment, particularly driven by Bitcoin (BTC), which experienced a notable price surge and reached an all-time high this week.
However, while the overall crypto market experienced a correction after the rally, the BONK meme coin continued its upward momentum. It defied the broader market trend with an impressive 7.50% gain in the 24-hour time frame from the press time.
Moreover, with an impressive price uptick, the meme coin topped the crypto market. It outperformed major assets, such as Bitcoin (BTC), Ethereum (ETH), XRP, and others.
The Reason Behind the BONK Rally
The major reason behind BONK’s continued price uptick is the strength of the Solana ecosystem, and a bullish price action asset has formed on the daily time frame.
Additionally, the asset management giant Grayscale recently added BONK to its watchlist. That move showed increased credibility and anticipation of a 1 trillion token burn.
Additionally, another major reason behind this price uptick was the rising odds of a spot Solana ETF approval. Those odds have reached 99% on Polymarket, playing an important role in boosting BONK’s momentum.
Open Interest Hints at Intensifying Bullish Pressure
BONK price traded at the $0.000030 level at press time. It recorded a price surge of over 7.50% in the past 24 hours. During this period, investor and trader participation also skyrocketed. That led to a 21% increase in trading volume compared to the previous day.
Moreover, BONK’s open interest also soared by 22%. It reached $55.91 million, which is a record high for 2025.
On January 1, 2025, the meme coin’s open interest was $15.15 million, but it has now surged to nearly $56 million. Notably, the major capital inflow began in July 2025, when open interest was around $11.72 million.
Within just 15 days, traders have shown strong interest in the token. That resulted in significant capital inflows, a bullish sign for BONK holders.
BONK Technical Analysis: Key Levels to Watch Next
TradingView chart analysis revealed that BONK recently broke through the key resistance level of $0.0000264. It opened the path for further upside momentum.
Based on recent price action and historical patterns, if this momentum continues, there is a strong possibility that the asset could rise by another 20% and reach the $0.000038 level in the near future.
At press time, BONK’s Relative Strength Index (RSI) was at 76. It indicated that the asset was in overbought territory and a potential red flag in the short term.
When combining the meme coin’s technical analysis with bullish on-chain metrics, it appeared that bulls dominated the asset. They may continue driving BONK’s upside momentum in the coming days.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
