BONK Price Targets $0.00004 As Market Cap Surpasses $2 Billion

BONK price surges 76% to $0.00003183 amid market recovery, hitting a $2.19 billion market cap. Traders show high buying conviction with a potential 48% rise to $0.46. 
By Sahil Mahadik
Updated July 18, 2025
Current Market Performance of BONK Price

Highlights

  • As per the data from Coinmarketcap, the Top meme token holds a market cap of $50.6 Billion, while the 24-hour trading volume wavers at $5.07 Billion. 
  • A wedge pattern is currently shaping the mid-term sideways trend in this meme cryptocurrency.
  • The midline of the Bollinger band indicator offers BONK price a fast-moving dynamics support.

The crypto market recovery resumes on Friday during the U.S. trading hours as Bitcoin jumps 4% to hit a high of $66475. Similar momentum is observed in the altcoin market, with BONK emerging as the highest gainer with a 16% price jump since yesterday. The mid-week uncertainty allowed market buyers to regroup, and renew bullish momentum to set the stage for fresh breakouts.

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BONK Price Caught in Rising Wedge, Aims for 48% Rally

BINANCE:BONKUSDT Chart Image
BONK Price| Tradingview

Amid the recent market recovery, the BONK price correction managed to form a stable bottom at $0.000018 support. The bullish reversal has surged the asset 76% to trade at $0.00003183, while the market jumped to $2.19 Billion.

Acquired a psychological level in price or market cap has shown a positive impact on market sentiment. The rising price challenging the upper boundary of Bollinger Band indicator accentuates the buyers are aggressive and ready to buy this asset at a premium.

However, a look at the daily time frame chart shows that the current recovery is still enclosed within a rising wedge formation. The two trendlines of this chart pattern offer BONK traders dynamic resistance and support preventing the asset from a major move price.

Today, the BONK price is up 16.8% and shows high buying conviction from traders with a 76% jump in trading volume. An uptick in the ADX indicator to 16% suggests that buyer momentum is beginning to increase.

BINANCE:BONKUSDT Chart
BONK Price| Tradingview

With sustained buying, the Solana-based meme coin Bonk could rise 48% to challenge the pattern’s overhead trendline at $0.000046. This potential retest will be a pivotal moment for BONK to impact near-term trends.

If supply pressure at this resistance persists, the BONK price could enter another bear cycle within the wedge and prolong the consolidation. 

On a contrary note, a potential breakout from the resistance trendline will provide buyers with suitable support to prolong future rallies. The post-breakout rally may push the asset to $0.000051, followed by $0.000057.

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Key Takeaway

A majority of major cryptocurrencies witnessed a renewed recovery sentiment as Bitcoin surpassed $66000 on Friday. However, the meme cryptocurrency sector showcased a higher momentum due to its volatile nature. The BONK price leverages the recent change in market dynamics to continue the formation of the wedge pattern and aim for a 48% upswing.

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Frequently Asked Questions (FAQs)

1. What is meant by a psychological level in trading?

A psychological level refers to a price level or market cap in trading that is significant due to common human behavior and psychology. These levels often end in multiple zeros, such as $0.000050, $1.00, or $100.00.

2. What does the ADX indicator signify in market analysis?

The Average Directional Index (ADX) is a technical analysis indicator used to quantify trend strength.

3. What are dynamic resistance and support in trading?

Dynamic resistance and support are levels on a price chart that adjust over time based on recent price movements
Sahil Mahadik
Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading
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