BONK price is up nearly 16% over the past day and now trades at $0.00002035. Volume has climbed 62% during the same period, showing clear momentum behind the move. The rally comes after a technical breakout and growing talk around a massive token burn and Solana-linked catalysts.
Weekly volume is now approaching levels last seen back in early April. That’s when BONK went on a 3x run over the next month. A tweet from prominent analyst Jim draws the same comparison, noting that a clean move above $0.00002218 could be the signal for another explosive leg up, possibly 5x to 10x, if current conditions hold.
One of the main reasons for the renewed interest is BONK upcoming 1 trillion token burn, which will be triggered when the holder count reaches 1 million. Right now, the number stands at around 943,000, based on data from the BONK Foundation. If the burn happens, it would remove about 1.24% of the token’s supply.
Jim also pointed to buy-and-burn efforts from BONK-related projects like @bonk_fun and @bonk_inu. These efforts, tied to ecosystem revenue, are designed to steadily reduce supply over time. With the burn milestone approaching and technical levels getting tested, traders are watching closely to see if BONK price can build on this push.
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$BONK weekly volume now are similar to the swing low of April 7th, and it 3xed in the next 30 days. This was when @bonk_fun wasn’t launched yet.
If 26 price resistance broken and confirms as support, then time for $BONK to 5x to 10x in the next 30 days?
A few catalysts for it… pic.twitter.com/H5ymExtP0V
— jim (@jimmyhumania_) July 6, 2025
Bonk ETF Speculation and Broader Market Sentiment
BONK rise has been fueled by speculation around a possible leveraged exchange-traded fund (ETF). Market chatter suggests Tuttle Capital may be preparing a 2x leveraged BONK ETF. Though unconfirmed, the rumor aligns with recent activity around Solana-based ETFs and adds speculative momentum to BONK move.
The broader market context also supports Bonk price action. Despite a 1% dip in the overall crypto market on July 5, BONK gained over 14%, outperforming major assets like Bitcoin, which fell 0.68%. The performance echoes interest in memecoins, which have shown relative strength.
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Bonk Price Technical Structure Suggests Recovery Attempt
BONK broke out of a falling wedge pattern and reclaimed the 0.618 Fibonacci level near $0.00001807. The current price move pushes toward the next resistance at $0.00002218. Weekly chart data shows the asset bouncing from the 0.618 support level after five red candles.
The volume profile also supports a bullish setup. Trading activity is now at the highest levels since early April. The RSI stands at 65.8 and MACD momentum has turned positive. If BONK price closes above $0.00002218 on volume, traders expect continuation toward the May high of $0.00002761.
What Comes Next
The market is closely tracking BONK ability to sustain above key resistance. If it confirms $0.00002218 as support, the weekly structure can reverse in favor of buyers. Whether BONK price maintains this momentum will come down to whether upcoming catalysts, such as the token burn, provide continued supply-side pressure.
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