BONK Price Prediction: 100% Surge in the First Half of July, Can the Rise Continue?

Bonk price movement analysis

According to data from crypto. news, Bonk has risen by 100% in the past 14 days, reaching a five-month high of $0.000028 on July 15. Previously, Bonk experienced a downward trend starting in May, falling from $0.000024 to a low of $0.000011 on June 23, after which buyers regained control. As of the time of writing, Bonk's price is $0.000028, but it is still 50% lower than the historical high of $0.000058 in November last year.

Market Position and Competitive Landscape

The recent rise of Bonk has secured its top position among Meme coins on the Solana chain, with a market capitalization of $1.57 billion, far surpassing its competitors. Its closest rival, Pudgy Penguins, has a market capitalization of $1.45 billion. Bonk's strong performance has attracted the attention of many crypto investors, especially those focused on Meme coins within the Solana ecosystem.

Technical Indicators and Future Price Movement

On the daily chart, Bonk seems to have entered a rising expanding wedge formation, which is a bearish reversal pattern. However, before reaching the resistance level of $0.000040, Bonk still has room to rise, with a potential increase of 43%. Technical indicators show:

• Supertrend line is located below the price and has turned green, indicating that bulls remain dominant.

• Momentum indicators such as MACD and RSI are showing an upward trend, which is regarded as a buy signal. Some analysts have even given a more optimistic target price of $0.000060, citing that Bonk recently broke through the upper trendline of an ascending triangle pattern.

  

Catalysts for Price Movement

1. The funding rate remains positive.

According to CoinGlass data, Bonk's weighted funding rate has remained positive for 9 consecutive days. A positive funding rate means that long traders pay fees to short traders, indicating that most futures traders are bullish on the price. If this trend continues, it may attract more retail investors, further driving up the price of Bonk.

2. Exchange balance decreases

Nansen data shows that the total amount of Bonk held by exchanges has decreased by 22% over the past 30 days, to 1.763 billion tokens. The decrease in exchange balances may indicate that investors are transferring tokens to private wallets, which reduces the likelihood of short-term sell-offs. This outflow helps to alleviate immediate selling pressure while also decreasing market supply.

Conclusion

Bonk's strong performance, technical indicators support, and positive signals from on-chain data have made it one of the most关注的迷因币 in the current crypto market. Investors should closely monitor the key resistance level at $0.000040, as well as the potential for further upward movement. For long-term holders focused on Solana ecosystem meme coins, Bonk may still offer substantial return opportunities.