BONK is holding a key support level, paving the way for a possible 60% rebound as ongoing token burns strengthen its cautiously bullish technical outlook.
The meme coin appears to be in the early stages of a reversal after plunging 40% from its recent parabolic rally, which began on June 22 at $0.00001143 and peaked at $0.00004075 on July 17—an impressive 256% surge. During the correction, BONK slipped below the 20-day EMA and continued to decline, eventually bottoming out at $0.00002411 on August 2. Despite the pullback, the bullish EMA 20/50 crossover remains intact, suggesting that upward momentum may resume.
BONK price is currently consolidating solidly above the 50-day EMA, holding firm at a key horizontal support zone between $0.000025 and $0.000026 — a former resistance level that has now flipped into support. This area is technically significant for several reasons:
- It represents a previous breakout point where BONK faced multiple rejections in late 2024 and again in May 2025. The recent rally only gained momentum after this level was decisively cleared.
- Historical volume data shows strong accumulation in this zone, suggesting consistent buyer interest.
- The 50-day EMA is converging with this range, adding confluence and reinforcing the likelihood of a rebound.
If BONK maintains support here and reclaims the 20-day EMA near $0.000028, it would signal a short-term bullish reversal. A decisive break above that level could pave the way for a move toward the $0.000032–$0.000035 range, with the July peak of $0.00004075 remaining a key upside target.
However, a confirmed breakdown below $0.000024 on elevated volume would invalidate this bullish scenario and potentially open the door for a deeper correction toward the next major support around $0.000017.
BONK Token Burns Emerging as a Key Price Catalyst
A major fundamental catalyst that could propel BONK back to its recent highs is the ongoing token burn initiative. The team recently announced the permanent removal of 300 billion BONK tokens, burned using fees generated from the LetsBONK.fun platform—adding significant deflationary pressure right as the price holds a critical support zone.
According to the platform’s dashboard:
- 50% of all revenue is allocated to a Buy-and-Burn mechanism, where BONK tokens are repurchased from the open market and permanently removed from circulation.
- On August 2, more than 141,868.67 SOL was used for token burns out of 283,736.33 SOL in total revenue — confirming that half of the platform’s income is actively driving deflation.
- With a 24-hour trading volume of $126.85 million and $1.06 million in fees generated, BONK continues to benefit from robust on-chain activity directly feeding the burn mechanism.
In short, BONK isn’t relying on technicals alone — its deflationary tokenomics are providing real, on-chain support. If the burn momentum continues and the price reclaims the 20-day EMA, a move back to the July 17 high of $0.00004075 is well within reach. From current levels, that would represent a 60% upside.
