BONK, Solana’s top-performing meme coin, is on fire. With a 9.26% surge in the last 24 hours and a staggering 34.67% weekly rally, BONK is once again holding dominance in the top gainers list. The coin is currently trading at $0.00001841, lifting its market cap to $1.48 billion, and pushing 24-hour trading volumes to $582.99 million, up 31.58%. But what’s driving this rally, and is it sustainable? Join me as I give you the reasons behind the BONK price surge and the potential price targets.

Why BONK Price is Surging Today?

1. ETF Speculation Heats Up

Rumors are circulating that Tuttle Capital may soon file for a 2x leveraged BONK ETF, which has triggered a massive spike in social media buzz. While unconfirmed, the speculation alone is fueling retail investor demand.

2. Massive Token Burn Incoming

As BONK inches closer to 1 million holders, the project is preparing for a significant 1 trillion token burn. This deflationary mechanism has sparked a supply shock narrative, reinforcing bullish sentiment.

3. Solana ETF Boost

The July 2 launch of the first Solana ETF has lifted most Solana-based assets, with BONK being a direct beneficiary of renewed institutional interest in the ecosystem.

4. Technical Breakout Confirmed

BONK has broken out of a falling wedge pattern, typically a bullish reversal indicator. The breakout is backed by rising volume and improving technical indicators.

BONK Price Analysis

The chart shows BONK surging past the upper Bollinger Band and breaking free from a month-long downtrend channel. The RSI is currently at 64.31, just below the overbought threshold of 70, suggesting room for more upside.

With support now established near the breakout zone at $0.00001755, bulls are setting sights on the next resistance at $0.00002397, the previous high. If volume continues to rise, BONK could test this level in the short term. Conversely, any sharp reversal may find immediate support around the 20-day SMA at $0.00001453.

Also read our BONK Price Prediction 2025, 2026-2030!

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