{"id":24245,"date":"2025-04-29T00:16:52","date_gmt":"2025-04-29T00:16:52","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=24245"},"modified":"2025-04-29T00:16:52","modified_gmt":"2025-04-29T00:16:52","slug":"bonk-price-gains-60-in-a-week-as-solana-memecoins-make-a-comeback","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=24245","title":{"rendered":"BONK price gains 60% in a week as Solana memecoins make a comeback"},"content":{"rendered":"<div>\n<p style=\"float:right; margin:0 0 10px 15px; width:240px;\"><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDQvMDE5NjdkNjYtODY4My03NGVlLWI2NmUtNDYzNGUyNDhlYjIx.jpg\"><\/p>\n<\/p>\n<p style=\"float:right; margin:0 0 10px 15px; width:240px;\"><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDQvMDE5NjdkNjYtODY4My03NGVlLWI2NmUtNDYzNGUyNDhlYjIx.jpg\" alt=\"BONK price gains 60% in a week as Solana memecoins make a comeback\"><\/p>\n<p><strong>Key takeaways:<\/strong><\/p>\n<ul>\n<li>\n<p>BONK price is up 73% since April 22, hitting a five-month high of $0.00002167.<\/p>\n<\/li>\n<li>\n<p>BONK\u2019s open interest surged 290% to $43.2 million.\u00a0<\/p>\n<\/li>\n<\/ul>\n<p>Bonk (<a data-ct-non-breakable=\"null\" href=\"https:\/\/cointelegraph.com\/bonk-price-index\" rel=\"null\" target=\"null\" text=\"null\" title=\"null\">BONK<\/a>), the second-largest Solana-based memecoin by market capitalization, is on track to continue the recovery it began on April 22. BONK has climbed approximately 73% from its April 22 low of around $0.00001247, bringing its price up to an intraday high of $0.00002167 on April 28.<\/p>\n<p>Data from <a data-ct-non-breakable=\"null\" href=\"https:\/\/subscription.cointelegraph.com\/?_gl=1*7499wx*_ga*MTQ0MzQ0NzI4Ny4xNzE2MzY1NTA0*_ga_53R24TEEB1*MTcxNjM2NTUwNC4xLjEuMTcxNjM2Njg2MC4wLjAuMA..\" rel=\"null\" target=\"null\" text=\"null\" title=\"null\">Cointelegraph Markets Pro<\/a> and <a data-ct-non-breakable=\"null\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/?exchange=BINANCE\" rel=\"null\" target=\"null\" text=\"null\" title=\"null\">TradingView<\/a> shows BONK trading at $0.00001923, up 3% over the 24 hours and 60% over the last seven days.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2025-04\/01967d64-13cf-758e-86c9-fc8577fda7a5\" title=\"\" alt=\"BONK price gains 60% in a week as Solana memecoins make a comeback\"><figcaption style=\"text-align: center;\"><em>BONK\/USD daily chart. Source: Cointelegraph\/<\/em><a data-ct-non-breakable=\"null\" href=\"https:\/\/www.tradingview.com\/x\/jjwIiSV9\/\" rel=\"null\" target=\"null\" text=\"null\" title=\"null\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>BONK\u2019s trading volume has jumped 98% over the last 24 hours to $478 million, and its market capitalization also jumped, briefly touching $1.7 billion on April 28, before retracing to the current level of $1.5 billion.<\/p>\n<p>Let\u2019s examine the factors that have fueled BONK&#8217;s price momentum over the last week.<\/p>\n<h2>Memecoins recover across the board<\/h2>\n<p>BONK\u2019s rally over the last seven days mirrors the bullish price movements across the <a data-ct-non-breakable=\"null\" href=\"https:\/\/cointelegraph.com\/news\/why-is-the-crypto-market-up-today\" rel=\"null\" target=\"null\" text=\"null\" title=\"null\">broader crypto market,<\/a> including the memecoin sector. Most memecoins have posted double-digit gains over the last week. DOGE and Shiba Inu (<a data-ct-non-breakable=\"null\" href=\"https:\/\/cointelegraph.com\/shiba-inu-price-index\" rel=\"null\" target=\"null\" text=\"null\" title=\"null\">SHIB<\/a>), the leading <a data-ct-non-breakable=\"null\" href=\"https:\/\/cointelegraph.com\/price-indexes\/memecoins\" rel=\"null\" target=\"null\" text=\"null\" title=\"null\">memecoins<\/a>, have jumped 3% and 5% over the last seven days.\u00a0<\/p>\n<p>Official Trump (TRUMP), the memecoin associated with US President Donald Trump, has recorded 73% weekly gains, while Base\u2019s Brett (<a data-ct-non-breakable=\"null\" href=\"https:\/\/cointelegraph.com\/brett-price-index\" rel=\"null\" target=\"null\" text=\"null\" title=\"null\">BRETT<\/a>) has rallied 83% over the same period.\u00a0<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2025-04\/01967d64-186f-7260-ab90-91d0dacd4ec1\" title=\"\" alt=\"BONK price gains 60% in a week as Solana memecoins make a comeback\"><figcaption style=\"text-align: center;\"><em>Performance of top-cap memecoins. Source: CoinMarketCap<\/em><\/figcaption><\/figure>\n<p>This widespread rally has pushed the total memecoin market value to $55.51 billion, a 17.5% leap in the past week, as per CoinMarketCap data.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2025-04\/01967d64-1d39-706c-959c-288e79692e02\" title=\"\" alt=\"BONK price gains 60% in a week as Solana memecoins make a comeback\"><figcaption style=\"text-align: center;\"><em>Memecoin market cap and volume. Source: CoinMarketCap<\/em><\/figcaption><\/figure>\n<p>Over $7.96\u00a0billion in memecoin trading volume was recorded in the past seven days alone, representing an 85% weekly change. The resurgence is driven by investors once again embracing risk-on assets like memecoins.<\/p>\n<h2>Increasing open interest backs BONK\u2019s rally<\/h2>\n<p>The surge in the price of Bonk over the last seven days comes after a significant jump in its <a data-ct-non-breakable=\"null\" href=\"https:\/\/cointelegraph.com\/explained\/what-is-open-interest-in-the-crypto-futures-market\" rel=\"null\" target=\"null\" text=\"null\" title=\"null\">open interest<\/a> (OI).\u00a0<\/p>\n<p>BONK\u2019s total OI on all exchanges rose 290% from $11 million on April 22 to $43.2 million on April 26. Although this metric has since dropped to $28 million at the time of writing, it remains significantly higher than the OI seen since December 2024.<\/p>\n<p>Rising open interest reflects growing trader participation in BONK futures, indicating heightened speculative activity.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2025-04\/01967d64-2172-7704-add3-1a9f06c8095c\" title=\"\" alt=\"BONK price gains 60% in a week as Solana memecoins make a comeback\"><figcaption style=\"text-align: center;\"><em>BONK open interest across all exchanges. Source: CoinGlass<\/em><\/figcaption><\/figure>\n<p>Data from CoinGlass shows increasing demand for leveraged long positions in BONK over the last few days, as indicated by the OI-weighted futures funding rate.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2025-04\/01967d64-259f-7183-80fb-09dd8e705d25\" title=\"\" alt=\"BONK price gains 60% in a week as Solana memecoins make a comeback\"><figcaption style=\"text-align: center;\"><em>BONK average perpetual contracts 8-hour funding rate. Source: CoinGlass<\/em><\/figcaption><\/figure>\n<p>Increasing <a data-ct-non-breakable=\"null\" href=\"https:\/\/cointelegraph.com\/learn\/funding-rates-in-crypto-markets#:~:text=The%20impact%20of%20funding%20rates,hinting%20that%20prices%20could%20fall.\" rel=\"null\" target=\"null\" text=\"null\" title=\"null\">funding rates<\/a> usually suggest that futures traders are bullish, expecting future price increases, which may indicate a continuation of the uptrend.<\/p>\n<p>BONK&#8217;s social dominance remains high, suggesting high social activity. Santiment data shows BONK\u2019s social dominance spiking from 0.091% to 0.572% between April 20 and April 26, driven by BONK\u2019s ecosystem buzz.\u00a0<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2025-04\/01967d64-2a4c-7372-8fe2-32bddce89865\" title=\"\" alt=\"BONK price gains 60% in a week as Solana memecoins make a comeback\"><figcaption style=\"text-align: center;\"><em>BONK social dominance and volume. Source: Santiment<\/em><\/figcaption><\/figure>\n<p>This surge in chatter on social media platforms reflects rising retail and institutional interest, amplifying FOMO and driving demand.<\/p>\n<h2>BONK breaks out of a multimonth downtrend<\/h2>\n<p>On April 13, BONK price broke out of a descending parallel channel, igniting strength that saw it flip the 50-day and 100-day exponential moving averages (EMAs) to support.\u00a0<\/p>\n<p>The bulls will likely continue the rebound toward the significant resistance level at $0.00002410 (200-day SMA) in the short term. A daily candlestick close above this level, accompanied by high volume, could see BONK rise toward the Jan. 19 range high near $0.000040. This would represent a 104% increase from the current price.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2025-04\/01967d64-2f44-7108-a35e-1f123f36a623\" title=\"\" alt=\"BONK price gains 60% in a week as Solana memecoins make a comeback\"><figcaption style=\"text-align: center;\"><em>BONK\/USD daily chart. Source: Cointelegraph\/<\/em><a data-ct-non-breakable=\"null\" href=\"https:\/\/www.tradingview.com\/x\/6iEyURpA\/\" rel=\"null\" target=\"null\" text=\"null\" title=\"null\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>The sharp rise in the relative strength index and its position at 71 in the overbought region reinforces the buyers\u2019 dominance in the market.\u00a0<\/p>\n<p>However, the overbought conditions could facilitate profit-taking, occasioning a slight correction before BONK continues its uptrend.\u00a0<\/p>\n<p>\u201c$BONK\u2019s descending trendline got cleared,\u201d <a data-ct-non-breakable=\"null\" href=\"https:\/\/x.com\/WorldOfCharts1\/status\/1916593872563503148\" rel=\"null\" target=\"null\" text=\"null\" title=\"null\">declared<\/a> popular analyst World of Charts in an April 28 post on X, \u201cexpecting 2x in the coming days.\u201d<\/p>\n<p>Meanwhile, Crypto Joe <a data-ct-non-breakable=\"null\" href=\"https:\/\/x.com\/CryptoJoeReal\/status\/1916730349465317555\" rel=\"null\" target=\"null\" text=\"null\" title=\"null\">spotted<\/a> BONK breaking out of a bullish pennant in the 30-minute timeframe targeting $0.00002690.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2025-04\/01967d64-340c-72d0-8d23-1c9c96d3b534\" title=\"\" alt=\"BONK price gains 60% in a week as Solana memecoins make a comeback\"><figcaption style=\"text-align: center;\"><em>Source: <\/em><a data-ct-non-breakable=\"null\" href=\"https:\/\/x.com\/CryptoJoeReal\/status\/1916730349465317555\" rel=\"null\" target=\"null\" text=\"null\" title=\"null\"><em>Crypto Joe<\/em><\/a><\/figcaption><\/figure>\n<p class=\"post-content__disclaimer\" type=\"\">This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\" label=\"Subscription Form: Markets Outlook\"><\/template>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Key takeaways: BONK price is up 73% since April 22, hitting a five-month high of $0.00002167. BONK\u2019s open interest surged 290% to $43.2 million.\u00a0 Bonk (BONK), the second-largest Solana-based memecoin by market capitalization, is on track to continue the recovery it began on April 22. BONK has climbed approximately 73% from its April 22 low [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-24245","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/24245","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=24245"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/24245\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24245"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=24245"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=24245"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}