The meme token BONK is once again shaking up the crypto market. Its price surged by a staggering 25% in the last 24 hours and recorded a 75% gain over the past week. This explosive rally has pushed BONK toward the crucial Fibonacci “golden pocket” zone – an area often seen as a potential turning point in price action.
📈 BONK Back in Focus – New Hype, Old Highs Within Reach
BONK is currently trading just below its recent daily high of $0.00003936. With this bullish momentum, traders are watching closely to see whether the rally has further legs – or if profit-taking is on the horizon.
According to CoinMarketCap, BONK is now only 33% away from its all-time high of $0.00005916. Trading volume has skyrocketed to $2.4 billion in just one day, a 60% jump, pushing BONK’s market cap back above $3 billion.
💥 Derivatives Frenzy – Short Sellers Crushed
Data from Coinglass shows derivative volume spiking by 150%, while open interest rose 36%, signaling heightened trader appetite for BONK exposure. Short sellers were hit hard, suffering $3.39 million in liquidations over the past 24 hours – fueling further bullish momentum.
🏛️ Grayscale Exposure and Meme Coin Market Dominance
BONK’s momentum has also been boosted by its listing on Grayscale’s institutional watchlist. Although this doesn’t confirm ETF inclusion, it lends BONK added credibility in the eyes of traditional investors.
In the meme coin launchpad space, BONK dominates through its platform LetsBonk.fun, which now controls 52% of the market – overtaking former leader Pump.fun, which holds 39%. However, according to Jupiter, Pump.fun still leads in user activity, reporting 401,000 users in the last 24 hours compared to 268,000 for LetsBonk.
📊 BONK Price Analysis: Golden Pocket in Sight
BONK’s 4-hour chart shows a textbook bullish breakout supported by strong volume. The price has broken above the 3.618 Fibonacci level at $0.00003894 and is now approaching the 4.236 extension at $0.00004190.
This area is often considered a potential take-profit zone, also known as the "golden pocket" during late-stage rallies.
Momentum indicators paint a highly bullish picture:
🔹 RSI stands at 78.31, indicating overbought territory
🔹 MACD is well above the signal line with expanding histogram bars
🔹 The Ultimate Oscillator is above 66, confirming strong upward momentum
🔮 What’s Next?
If BONK breaks through the $0.00004190 resistance, it could retest its all-time high of $0.00005916. On the flip side, if BONK is rejected at the 4.236 Fibo level, a healthy pullback could follow toward the 3.618 or 2.618 zones ($0.00003894 and $0.00003414 respectively).
#Bonk , #memecoin , #LetsBONK , #CryptoMarketMoves , #CryptoInvesting
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