As it approaches the key Fibonacci 'golden pocket' area, driven by explosive trading volume, BONK has surged 25% in the past 24 hours and 75% over the week.
BONK has once again become the focus of investors, rising 25% in the past 24 hours and 75% over the past week. The meme coin's daily high reached $0.00003936, and as of the time of writing, its trading price is slightly below this level, attracting strong market attention, especially as traders focus on the so-called 'golden pocket' Fibonacci range and speculate on whether this rally 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 trading volume soaring to $2.4 billion, a daily increase of 60%, pushing BONK's market cap back above the $3 billion mark.
Coinglass data shows that derivatives trading volume surged by 150%, with open interest increasing by 36%, highlighting traders' growing interest in BONK positions. Additionally, in the past 24 hours, shorts faced $3.39 million in liquidations, further intensifying bullish pressure.
Grayscale spotlight and meme coin dominance
BONK has been added to Grayscale's institutional monitoring list, further fueling interest. While this does not guarantee that BONK will be included in an ETF, it enhances BONK's credibility in the eyes of traditional investors.
Meanwhile, LetsBonk.fun, launched earlier this year by BONK, has also created a buzz, capturing 52% of the meme coin creation market. This far exceeds the previous leader Pump.fun, which currently holds a 39% share.
However, according to Jupiter data, Pump.fun still leads in trader activity, with 401,000 users in the past 24 hours, compared to LetsBonk's 268,000.
BONK price analysis: Focus on the golden pocket
The 4-hour chart of BONK shows a typical bullish breakout pattern supported by volume. The price has broken through the 3.618 Fibonacci level at $0.00003894 and is currently hovering below the 4.236 extension level at $0.00004190.
Traders are closely monitoring this area as it marks a typical profit-taking zone, sometimes referred to as the 'golden pocket' of late-stage rallies.
Momentum indicators show strong bullish momentum, with the RSI at 78.31, firmly in the overbought zone, making BONK one of the most worthwhile 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, with the potential to retest its all-time high of $0.00005916. However, if BONK faces resistance in the 4.236 Fibonacci area, a healthy pullback could occur towards the 3.618 or 2.618 areas at $0.00003894 and $0.00003414, respectively.
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