BONK is once again in the spotlight for investors, having risen 25% in the past 24 hours and 75% over the past week. The daily high for this meme coin reached $0.00003936, and at the time of writing, its trading price is slightly below that level, sparking strong market interest, especially as traders focus on the so-called 'golden pocket' Fibonacci range and speculate whether this rebound has further upside potential.

Derivatives frenzy and whale liquidations

According to CoinMarketCap data, BONK is currently only 33% lower than its all-time high of $0.00005916, with its trading volume surging to $2.4 billion, a daily increase of 60%, allowing BONK's market capitalization to surpass the $3 billion mark again.

Coinglass data shows a 150% surge in derivatives trading volume and a 36% increase in open interest, highlighting traders' growing interest in BONK exposure. Additionally, in the past 24 hours, short sellers faced $3.39 million in liquidations, further intensifying bullish pressure.

Grayscale spotlight and meme coin dominance

BONK has been added to Grayscale's institutional watchlist, adding fuel to the fire. Although this does not guarantee that BONK will be included in an ETF, it does enhance BONK's credibility in the eyes of traditional investors.

Meanwhile, LetsBonk.fun, launched by BONK earlier this year, has also made waves, capturing 52% of the meme coin creation market. This far surpasses the previous leader Pump.fun, which currently holds 39% market share.

However, according to Jupiter data, Pump.fun still leads in trader activity, with 401,000 users in the past 24 hours, while LetsBonk has 268,000.

BONK price analysis: Focus on the golden pocket

The 4-hour chart for BONK shows a typical bullish breakout pattern, supported by trading volume. The price has broken above the 3.618 Fibonacci level ($0.00003894) and is currently hovering just below the 4.236 extension level ($0.00004190).

Traders are closely watching this area as it marks a typical profit-taking zone, sometimes referred to as the 'golden pocket' of a later rebound.

Momentum indicators show strong bullish momentum, with the RSI at 78.31, firmly in the overbought region, making BONK one of the most desirable meme coins to buy in July 2025. The MACD line is well above the signal line, and the histogram continues to expand, indicating that bullish momentum will persist. The ultimate oscillator also remains above 66, further confirming the upward trend.

In a bullish scenario, BONK could break through the Fibonacci level of $0.00004190 and is expected to retest its all-time high of $0.00005916. However, if BONK encounters resistance in the 4.236 Fibonacci area, a healthy pullback towards the 3.618 or 2.618 areas (at $0.00003894 and $0.00003414, respectively) may occur.