- Bonk’s price rises as open interest and derivatives volume increase.
- The memecoin rallied double digits to surpass the $0.000030 level.
- BONK could surge to $0.00050 as bulls target fresh momentum.
Bonk (BONK) climbed more than 10%, reaching a 24-hour high of $0.0000305 as the Solana memecoin saw a notable spike in open interest and derivatives trading volume.
This uptick follows a broader recovery among top memecoins and coincided with Bitcoin’s sharp rally above $122k in recent days, a move that sparked an altcoin bounce.
Bitcoin’s rise has helped memecoins such as Dogecoin, Pepe, dogwihat and Bonk gain ground. The renewed sentiment has also been boosted by community activity around new token launches, including Pump.fun’s PUMP, which helped kickstart the wider meme recovery.
Bonk price rises as open interest jumps 9%
Bonk’s price increase has tracked higher market activity across derivatives and spot markets.
Open interest rose about 9%, bringing total open bets on the token to roughly $48.5 million.
According to Coinglass data, this growth came alongside a 20% increase in derivatives volume, which topped $534 million.
On the spot market, BONK recorded a 24-hour trading volume of $1.34 billion, up 23% over the same period.
The surge in derivatives activity points to growing investor conviction, likely helped by community initiatives such as the campaign to reach one million on-chain holders.
Bullish positioning has increased as the community eyes a large token burn — one trillion BONK — once the on-chain holder target is met.
954,843
What is this number?
The number of on-chain Solana holders of $BONK
Once this number goes to 1,000,000 — one trillion BONK will be burned 🔥
Send some $BONK to your mum, dad, or even your dog
Have you BONKED someone today yet?
— Tendies (@tradefortendies) July 13, 2025
If the burn is executed, it would create scarcity and could boost the value of the Bonk token.
Bonk price outlook
Most cryptocurrencies have enjoyed a rebound in recent weeks, producing bullish forecasts for altcoins and memecoins as Bitcoin hits new highs.
Bonk is following a similar path after recent pullbacks to around $0.000027.
In the near term, bulls will aim to hold above $0.000028 and push for a breakout above $0.000035.
Price action has moved inside an ascending channel in recent weeks, suggesting buyers may be in control. Technical indicators, however, paint a mixed picture for Bonk’s immediate trajectory.
BONK price chart by TradingView
The 14-day Relative Strength Index (RSI) sits at 76, indicating overbought conditions that could prompt a short-term correction.
Conversely, the Moving Average Convergence Divergence (MACD) on the daily chart is signaling bullish momentum: the histogram has expanded following a bullish crossover.
The combination of rising open interest, strong trading volume and bullish technical signals presents an overall optimistic outlook for Bonk. While the elevated RSI suggests caution, the MACD and broader market projections favor buyers over the medium to long term. Key support levels to watch are $0.000026 and $0.000015.