BONK looks set for a decisive breakout, fueled by a significant token burn initiative and increased accumulation by smart money investors.
As reported by crypto.news, BONK was trading at $0.000034 as of Monday morning (Asia time), marking a nearly 200% gain from last month’s low and a 266% surge from its yearly bottom.
Despite boasting a $2.7 billion market cap, the memecoin remains 40% below its all-time high recorded in November last year.
What Factors Could Propel BONK’s Price This Week?
BONK’s rally this week is being driven by several key catalysts:
1. Upcoming Token Burn Milestone:
The BONK team has announced a plan to burn 1 trillion tokens from its total supply once the project reaches 1 million on-chain holders. According to Solscan, fewer than 32,000 holders remain, suggesting the milestone could be reached by the end of this week. This move follows last week’s burn of 500 billion tokens—worth roughly $16.7 million—highlighting the project’s commitment to deflationary measures. Such large-scale burns enhance scarcity and investor sentiment, potentially fueling long-term price growth.
2. Institutional Recognition by Grayscale:
Grayscale’s inclusion of BONK in its Q3 2025 institutional watchlist marks a significant shift in market perception. This development has prompted many holders to view BONK not just as a speculative play, but as a legitimate asset with growing institutional interest and broader market relevance.
3. Surge in Smart Money Accumulation:
Interest from smart money investors has surged in recent weeks. Data from Nansen shows that smart money wallets now hold approximately 80.44 billion BONK tokens—a 594% increase since late June. This sharp uptick in accumulation indicates growing confidence in BONK’s near-term potential and longer-term viability.
This level of accumulation by well-capitalized players often translates into retail FOMO, as markets tend to follow smart money.
BONK Poised to Break Out of Symmetrical Triangle Pattern
On the daily chart, BONK looks ready to break out from a symmetrical triangle pattern that’s been forming over the past few weeks.
A symmetrical triangle is a continuation pattern that forms when the price consolidates between converging trendlines following a sharp move—often referred to as the flagpole. This pattern generally signals a brief pause before the price resumes its movement in the direction of the prevailing trend.
Strengthening the bullish outlook, BONK has also formed a golden cross, with the 50-day moving average crossing above the 200-day. This technical formation is widely regarded as a strong indicator of potential further upside.
Momentum indicators continue to support the case for a breakout. The RSI is hovering near 70, signaling strong and sustained buying pressure—a typical precursor to upward moves during consolidation phases like a symmetrical triangle. While a brief pullback is possible if the RSI enters overbought territory, the current level suggests that bulls remain firmly in control.
Adding to this, the MACD remains in positive territory, indicating that bullish momentum is intact despite the recent slowdown in price action.
If the breakout confirms, the projected target based on the flagpole’s height is around $0.000071—representing a potential 108% gain from current levels. However, BONK must first overcome resistance at $0.000041, a key level that has proven difficult to break in previous attempts.
