Why Is BONK’s Price Up by 75% Weekly and What’s Next?

TL;DR

• BONK breaks descending trendline and retests support, holding gains above $0.000034 with rising volume.
• Price targets $0.00004676–$0.00005876 next as bullish momentum and market interest continue to grow.

BONK Breaks Resistance, Extends Rally

Bonk (BONK) rose to $0.000039 at press time, its highest level in several months. The price is up 24% in the past 24 hours and over 75% since this time last week. Daily trading volume has crossed $3 billion, reflecting renewed market activity.

Interestingly, the price move followed a clean breakout above a long-term descending trendline and horizontal resistance near $0.00003. The breakout structure remains intact after a successful retest of support, with price now pressing toward the next area of supply around $0.000037.

Technical Setup Points to $0.00004676–$0.00005876 Range

Crypto analyst Professor Moriarty noted the chart shift earlier in the week. 

“After several attempts, it finally broke through resistance and held above it,” he posted. 

$BONK is up 49% since my last post

After several attempts, it finally broke through resistance and held above it

Now it’s facing the next key zone. If it keeps the bullish momentum and breaks it with confidence, the road to new highs will be wide open pic.twitter.com/KxoqBZxVe5

— Professor Moriarty (@Moriarty_web3) July 16, 2025

BONK is now approaching a price zone that previously capped upside in late 2024. While clearing this region in volume, the subsequent targets to monitor are at $0.00004676 and $0.00005876. These levels converge with previous swing highs and may act as short-term objectives should the current trend persist.

Broader Market Tailwinds Support Move

BONK’s breakout comes as broader crypto sentiment improves. Open interest is rising across major exchanges, and risk appetite has returned to the meme coin sector.

Notably, the token was recently added to Grayscale’s institutional tracking list, which some market watchers see as a step toward broader legitimacy. 

For now, BONK trades just below a key resistance band. A near break above 0.000037 would be a sign of continuation. A failure to clear this area may deliver a short-term consolidation or test of support at around the $0.000029 level.