BONK Frenzy: Open Interest Surges to 2025 Peak

After rising over 20% last week, Bonk price continues its gains on Tuesday.

BONK's launchpad has the most weekly income and annual open interest.

The technical picture predicts a rebound, with bulls targeting $0.000034 resistance next.

After rising roughly 20% last week, Bonk (BONK) traded about $0.000027 on Tuesday. On-chain and derivatives statistics show traders' trust rising as BONK's launchpad generates the most weekly income and Open Interest (OI) hits its annual high. Technical analysis suggests upside to $0.000034.

BONK's Open Interest tops annually

Coinglass data reveals that exchange BONK futures OI climbed to $507.50 million on Tuesday from $393.80 million on Saturday, the biggest annual level since December 9. An increase in OI indicates fresh money entering the market and purchasing, which might accelerate the Bonk price surge.

For the first time, Bonk's launchpad letsbonk.fun has inverted all other Solana launchpads' weekly income, collecting $7.97 million, boosting the positive forecast.

Bonk price forecast: Breaks critical resistance level
After breaking over the daily resistance level at $0.000024 on Saturday, Bonk price climbed 6.4% in two days. Above $0.000027 on Tuesday, it continues its rise.

BONK may rise to retest weekly resistance at $0.000034 if the daily level at $0.000024 holds.

On the daily chart, the RSI is 74, above its overbought threshold of 70, signaling bullish momentum. Due to its overbought situation, traders should be careful as a downturn is likely. At the end of June, the MACD indicator crossed bullishly. Rising green histogram bars above its neutral zero line indicate bullish momentum is continuing.

BONK may continue to fall to support at $0.000024 if it corrects.

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