After posting an explosive +70% rally in late April, BONK, the Solana-based memecoin, is back in the spotlight. Traders are watching closely as the price hovers just below the $0.000021 resistance level, raising the question: is this the beginning of a new bullish leg, or is the hype already fading?
With BONK trading at $0.00001926 and volume nearing 500 billion tokens, the setup is ripe for a decisive move.
BONK Rally Recap – What Triggered the 70% Pump?
BONK began its ascent around April 22, surging from the $0.000011 range to a peak near $0.00002167 in just a few days. The rally was fueled by:
- Increased Solana ecosystem activity
- Renewed meme coin enthusiasm following moves in TRUMP and PEPE
- BONK’s growing community presence on X and Telegram
The sharp move caught the attention of retail and short-term momentum traders, pushing daily volumes higher by over 98% at the peak of the rally.
Technical View – Consolidation Below Key Resistance
As of May 1, BONK is holding just below its recent high, trading at $0.00001926. The chart shows:
- A clear resistance zone between $0.000020 and $0.00002167
- A potential bull flag formation, with price tightening just beneath the breakout point
- Volume tapering off slightly, suggesting that momentum is cooling, but not dead
Source: Tradingview
The RSI remains neutral around 55, indicating room for another leg higher — but it will require a push in volume to confirm.
BONK Price Prediction – What’s Next?
Based on current technicals and market sentiment, here are three likely scenarios:
Bullish Case:
A clean breakout above $0.00002167 could open the door to $0.000028, with an extended target at $0.000036 in case of sustained hype.
Neutral Case:
BONK continues to range between $0.000017 and $0.000021, forming a sideways consolidation until a catalyst appears.
Bearish Case:
Failure to break resistance and continued volume decline could push BONK back toward the $0.000015 support zone, or even lower to $0.000012.
Final Thoughts – Hype or Healthy Momentum?
BONK’s recent move shows that memecoin season is far from over, but the next step will be critical. If the coin can break above resistance with strong confirmation, a continuation of the uptrend is possible.
However, the current pause is a classic crossroads moment — either buyers step in soon, or the hype fades and traders rotate into newer, lower-cap opportunities.While BONK has earned its place among the top Solana memecoins, investors should approach it with a balance of optimism and caution. Momentum is strong — but without follow-through, it can vanish just as quickly.
