TLDR
- BONK has surged 67% over the past week amid broader cryptocurrency market recovery
- The Solana-based meme coin reached $0.00002179 during Monday’s trading after falling 85% from its all-time high
- BONK’s rally coincides with growing activity across the Solana network and increased development in its DeFi ecosystem
- The token surpassed the daily SMA 50 at $0.00001252, a level that had capped its price since December 2024
- Technical analysts are eyeing the next resistance level at $0.00002411, which coincides with the daily SMA 200
The Solana-based meme coin BONK (BONK) has quietly skyrocketed by 67% over the past week, staging an impressive comeback as the broader cryptocurrency market recovers.
BONK reached $0.00002179 during Monday’s trading session, marking a substantial increase from recent lows.
The surge represents a major turnaround for the dog-themed token, which had been in a downtrend for months following its all-time high of $0.00005916 reached on November 22, 2024.
BONK Price
After hitting that peak, BONK entered a sustained period of decline lasting several months.
A brief revival attempt in January 2025 saw the token reach $0.00003986 before resuming its downward movement.
The bearish trend intensified when BONK experienced a death cross in February, a technical pattern often considered a sell signal.
By early April 2025, BONK had fallen to lows of $0.00000885, representing nearly an 85% decline from its all-time high.
Solana Ecosystem Recovery
The recent price action hasn’t happened in isolation. BONK’s resurgence coincides with growing activity across the Solana network and increased development in its decentralized finance ecosystem.
As the Solana blockchain experiences renewed interest and utility, tokens within its ecosystem, including BONK, have begun to benefit from the positive effects.
This ecosystem-wide recovery suggests that BONK’s price movement may be tied to broader fundamentals rather than mere speculative trading.
The broader cryptocurrency market has also been climbing higher, with Bitcoin trading above the $94,000 mark on Monday.
BONK gained 11% in just 24 hours to reach $0.00002052 as markets continued recovering from early April lows.
Technical Outlook
This recent momentum has allowed BONK to surpass the daily SMA 50 at $0.00001252, a level that had capped its price since December 2024.
Technical analysts are now watching the next resistance level at $0.00002411, which coincides with the daily SMA 200, as a potential target for continued upward movement.
While the weekly gain is substantial, the token remains well below its all-time high from November 2024.
Investors are now questioning whether this rally represents a temporary bounce or the beginning of a more sustained recovery for the Solana-based meme coin.
Several factors will likely influence BONK’s trajectory. The overall performance of the Solana blockchain will continue to play a crucial role in determining BONK’s success.
Market sentiment toward meme coins will also impact BONK’s price action. While meme coins have shown resilience despite market fluctuations, they remain susceptible to rapid sentiment shifts.
BONK’s current trading price of $0.00002179 represents a strong recovery from April lows but still sits at roughly 63% below its all-time high.
