BONK Surges 70% as Grayscale Considers Investment Product

BONK, a meme coin, has gained significant traction and institutional recognition, breaking into the top 5 meme coins. This surge is driven by a fresh wave of retail liquidity and continued adoption, particularly through the LetsBONK platform. The platform has become a popular choice for creating meme coins, commanding a 55.0% market share on the Solana-based meme coin launchpad leaderboard.

The hype around a potential Grayscale ETF and the continued adoption of LetsBONK have fueled a 70% rally on the weekly chart, adding weight to the bullish end-of-month BONK price outlook. Geopolitical and macroeconomic uncertainties no longer cloud the narrative, as new regulatory momentum fuels a trickle-down of capital into meme coins. Markets are now pricing in “Crypto Week,” as the U.S. House vote flips to advance the CLARITY Act, GENIUS Act, and Anti-CBDC Surveillance State Act.

Digital asset manager Grayscale has signaled interest in a Bonk-based investment product by adding it to its institutional asset monitoring list as “under consideration.” This places BONK alongside assets like Decentraland (MANA) and Dogecoin (DOGE) that already have Grayscale trusts in the “consumer & culture” crypto sector. Notably, Grayscale was among the first to file for a spot meme coin ETF with Dogecoin, pending the SEC’s approval decision deadline on November 17. While not a direct confirmation of an ETF, the move lends BONK greater credibility among traditional finance players and strengthens its standing in the meme coin narrative. If interest progresses into a dedicated BONK trust, it could form the foundation for a future ETF filing.

On the adoption front, Bonk’s meme coin launchpad LetsBonk.fun is absorbing the retail liquidity flowing into riskier assets. The growing adoption of LetsBONK is strengthening the meme coin’s fundamentals, offering real support for continued upside. The breakout momentum of an ascending triangle pattern forming since early April has played out, hitting its top target around a past resistance zone around $0.000041. Now the RSI now sits deep in overbought territory at 82, signaling seller exhaustion and suggesting that a short-term correction is likely and healthy to establish stronger footing. Still, the MACD line continues to widen its gap above the signal line, a sign of a strong uptrend even amid a potential cooldown. The 1.618 Fibonacci extension at $0.000036 looks like the most credible support for near-term consolidation, acting as a base for the next move once volatility tapers off. From there, a successful reclaim of $0.000041 could open the doors to a bullish continuation to the next 2.618 Fibonacci extension at $0.000053—a further 40% gain. Clearing that level would place the BONK price on track to retest its all-time high and potentially enter a price discovery phase by the end of the month. However, dropping a 0 to eying $0.0001 remains a longer-term target. It likely requires a major catalyst, such as new demand from TradFi markets with a Grayscale spot BONK ETF approval.

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