Solana News Today: BONK Eyes 108% Rally as Token Burns and Smart Money Drive Bullish Momentum

BONK is exhibiting signs of a potential price surge driven by a combination of token burns, smart money accumulation, and technical indicators. The memecoin has surged nearly 200% from its low last month, currently trading at $0.000034 with a market cap of $2.7 billion, though still 40% below its November 2023 all-time high. The project has initiated a deflationary strategy by burning 1 trillion tokens once the on-chain holder count reaches 1 million, a threshold that appears achievable by week’s end given the current 32,000 remaining holders. This follows a previous burn of 500 billion tokens ($16.7 million worth), signaling a deliberate effort to reduce supply and boost scarcity-based sentiment [1].

Smart money activity has intensified, with institutional and well-capitalized wallets holding 80.44 billion BONK tokens—a 594% increase since late June. This accumulation aligns with growing retail interest, as evidenced by BONK’s inclusion in Grayscale’s Q3 2025 institutional watchlist, which has shifted perceptions of the token from speculative to a potentially credible asset [1]. The trend is further supported by BONK’s listing among trending altcoins on platforms like Binance, indicating rising institutional and retail engagement [3].

Technical analysis reinforces the bullish case. BONK is forming a symmetrical triangle pattern on the daily chart, a continuation pattern that often precedes a trend resumption after consolidation. A breakout above the $0.000041 resistance level could target $0.000071, a 108% rise from current levels. The 50-day moving average has crossed above the 200-day line, forming a golden cross—a historically significant signal for upward momentum. Momentum indicators also favor a breakout: the RSI hovers near 70, indicating sustained buying pressure, while the MACD remains in positive territory, underscoring enduring bullish momentum [1].

Broader market dynamics are also influencing BONK’s trajectory. The Altcoin Season Index has surged to 43, reflecting heightened risk-on sentiment in the crypto market. This aligns with BONK’s recent 156% monthly price gain and a 7% 24-hour rise in Nigeria, highlighting emerging market demand [2]. Analysts note that BONK’s performance is decoupling from systemic risks, such as Solana’s recent dip below $200, as the token benefits from Solana’s robust ecosystem activity [6].

However, BONK’s success hinges on sustained retail participation and macroeconomic conditions. While the token is featured in reports on top trending cryptos for 2025 alongside projects like XRP and BlockDAG, it lacks concrete on-chain fundamentals. The rally reflects a broader shift in capital toward speculative yet scalable use cases, particularly within high-volume, high-utility tokens. A critical near-term focus is the $0.000038 resistance level, with a 2.6% two-day rebound prompting traders to monitor sustained buying pressure [5].

Source:

[1] [BONK eyes a major rally this week as bullish signs emerge] (https://crypto.news/bonk-eyes-a-major-rally-this-week-as-bullish-signs-emerge/)

[2] [3 Altcoins Trending in Nigeria For The Last Week of July] (https://www.mitrade.com/au/insights/news/live-news/article-3-989144-20250726)

[3] [Trending altcoins on Binance include SOL , DOGE, $AVAX ...] (https://www.binance.com/en/square/post/275158****0434)

[4] [Altcoin Season Index Surges to 43 Spurring Rally in Bonk ...] (https://www.ainvest.com/news/bitcoin-news-today-altcoin-season-index-surges-43-spurring-rally-bonk-quant-dogwifhat-etf-inflows-technical-signals-2507/)

[5] [BONK Eyes 76% Rally as Bullish Pennant Pattern Nears ...] (https://www.ainvest.com/news/solana-news-today-bonk-eyes-76-rally-bullish-pennant-pattern-nears-breakout-2507/)

[6] [Solana Price Dips Back Below $190 Has It Reached Its ...] (https://coincentral.com/solana-price-dips-back-below-190-has-it-reached-its-peak-this-cycle/)

[7] [Top Trending Cryptos in 2025: BlockDAG, XRP, SEI & BONK] (https://coindoo.com/top-trending-cryptos-in-2025-that-are-quietly-rewriting-crypto-playbooks-bdag-xrp-sei-bonk/)

[8] [Bonk Price Pumps After Massive Token Burn - Is Bitcoin ...] (https://en.cryptonomist.ch/2025/07/27/bonk-price-pumps-after-massive-token-burn-is-bitcoin-hyper-the-next-to-rally/)