- BONK price surged 30% in the last week, fueled by a massive 280 billion token burn and renewed hype in the meme coin space.
- The token burn proposal aims to permanently remove BONKBot-generated DAO revenue from circulation, driving deflation and increased interest.
- BONK is currently trading at $0.000022, with resistance levels at $0.000025–$0.000029; RSI at 78 suggests the coin might be overbought in the short term.
The crypto space is known for its chaotic swings — and Bonk (BONK), Solana’s favorite dog-themed meme coin, just added another chapter to that story. In just the past week, Bonk rallied roughly 30%, riding a wave of renewed investor hype, aggressive token burns, and a fresh spike in meme coin mania.
Let’s unpack what’s driving the sudden surge, and whether BONK has enough juice to keep climbing.
Meme Fuel: Why BONK Is Running Hot
BONK isn’t just another dog token. Built on Solana, it brings with it speed, low gas fees, and now… some serious community buzz. The recent price jump seems to be driven by a few overlapping catalysts:
- 280 billion BONK tokens were burned — and that’s not a small deal. In a space where supply matters, this deflationary move signaled to traders that BONK was serious about value.
- Add to that a broader uptick in meme coin enthusiasm (shoutout to Slothana and WIF), and you’ve got the perfect storm.
At the time of writing, Bonk is trading around $0.000022, with a market cap hovering near $1.35 billion. That’s a big recovery considering it had gone quiet earlier in April — likely when many investors got skittish during the latest correction.
What’s This Token Burn Everyone’s Talking About?
Here’s the scoop: a new proposal aims to permanently remove 278 billion+ BONK tokens from circulation. This is the revenue generated by BONKBot — a Telegram-based trading bot on Solana. BONKBot takes a 1% cut on every trade, and 10% of that cut goes to the BONK DAO.
Now, the community wants to burn all of that DAO revenue, effectively reducing supply and fueling long-term value. That announcement alone was enough to light up trading volumes and set BONK’s price in motion.
Technical Picture: Key Levels to Watch
Right now, BONK is floating around $0.000022. But traders are eyeing the following levels:
- Resistance: $0.000025, $0.000027, $0.000029 – these are the trouble zones where sellers might show up.
- Support: $0.000018 is the near-term floor, but stronger cushions are at $0.000015 and $0.000013.
One key thing to note — BONK’s RSI (Relative Strength Index) is sitting around 78, which means the asset might be a little overheated right now. But on the flip side, the 50-day EMA is positioned at $0.000017 — which still suggests bullish momentum is in play.
Final Thoughts: Can BONK Keep the Fire Burning?
A 30% rally in a week? That’s the kind of move that makes meme coin lovers pay attention. Between the proposed mega token burn, strong social sentiment, and meme hype revival, BONK is clearly enjoying the moment.
But—let’s be real—meme tokens are wild. Whether it’s Bonk, Slothana, or WIF, this segment of crypto thrives on community energy, volatility, and timing. If the BONK team keeps leaning into scarcity and the community keeps showing up, we might just see this rally extend.
For now, eyes are on $0.000025. And the BONK crowd? Well, they’re watching closely… and barking louder than ever.
