Bonk (BONK) Rises 15% in June, Eyes 100% Gain with Cup and Handle Pattern

On July 10, 2025, the cryptocurrency market experienced a significant event as Bitcoin (BTC) reached a new all-time high of $112K, while Ethereum (ETH) saw a notable 5% daily increase. This bullish momentum extended to various altcoins and memecoins, with particular attention on Solana-based Bonk (BONK).

BONK has shown strong performance recently, and its chart indicates that the rally may continue. The daily chart of BONK is forming a Cup and Handle pattern, a bullish continuation setup that typically signals the resumption of an uptrend. The rounded base, or "cup," developed between February and May as BONK bottomed out and began its recovery. This was followed by a downward-sloping "handle," which served as a consolidation phase from late May to early July. Such consolidation often helps to build momentum for the next upward move by shaking out weak hands.

Since June 18, BONK has been moving upward from the lower part of the handle, rising from the $0.000018 zone to the current level near $0.000021. If this pattern continues, the next immediate target would be the neckline resistance at around $0.00002580. A breakout above this level would confirm the Cup and Handle formation and open the door to a potential technical target near $0.000043, based on the depth of the cup pattern. Traders will be closely monitoring for a clean breakout above the neckline with volume support to validate the pattern.

Until a breakout occurs, BONK may continue to consolidate or retest lower levels. However, the overall structure remains bullish, and the breakout setup is one to watch. This potential upside move in BONK could be triggered by the completion of the Cup and Handle pattern, which, if validated, could lead to significant gains for the cryptocurrency.