While most of the crypto market is in the red, dropping over 3% in the past day, BONK price is doing the exact opposite. The meme coin built on Solana is up nearly 12% and trading around $0.00002994. Trading volume has jumped 18%, showing strong interest from investors even as major coins like Bitcoin and Ethereum pull back. According to data from Coindesk, TradingView, and Grayscale, there are a few clear reasons behind BONK’s breakout.
The price action fits the chart. BONK price has been in an uptrend on the 4H chart, making a series of higher highs over the past week. However, institutional attention and growing momentum in the BONK ecosystem are the driving forces behind this move.
One major catalyst came on July 14, when Grayscale added BONK to its monitoring list. Traders took that as a bullish signal, with speculation building around possible future inclusion in Grayscale’s products. Just hours after the announcement, BONK price jumped, and trading volume spiked to 2.6 trillion, the highest it’s been since March 2025.
Around the same time, on-chain data showed whales accumulating large amounts of BONK near the $0.000026 level. The combo of heavy buying and institutional spotlight helped fuel the breakout.
But that’s not all. BONK’s own ecosystem is also generating momentum. The project’s launchpad, Bonk.fun, brought in $7.93 million in fees last week. About 58% of that is being used to buy back BONK daily, which adds up to roughly $650,000 in daily buy pressure.
To top it off, the broader Solana network saw $125 million in cross-chain inflows on July 15. That added liquidity benefits the whole ecosystem, and BONK, being one of Solana’s leading meme tokens, is riding that wave too.
📊REPORT: In the last 7 days, over $125 million bridged from other chains to @Solana, including $70 million+ from Ethereum alone.
— SolanaFloor (@SolanaFloor) July 14, 2025
(A growth of nearly 40% compared to last week) pic.twitter.com/jMVTiJZ8jr
BONK Price Technical Structure Remains Bullish
The 4H BONK chart confirms a solid bullish trend. Price continues to follow a rising trendline that originated from the July 11 low. Each push higher has been supported by a short consolidation phase, followed by a break of structure (BOS) to the upside.
The latest breakout candle printed a strong gain with minimal upper wick, suggesting sustained buying momentum. Relative Strength Index (RSI) is near 73, indicating overbought conditions. While this may suggest a cooling phase is near, the structure remains healthy.
Immediate support sits between $0.00002730 and $0.00002750. If that zone holds, the trend is likely to continue. A move below the last BOS area near $0.00002650 could change the short-term outlook.
While most of the crypto market remains in decline, BONK price has moved against the tide. The combination of ecosystem incentives, strong technicals, and institutional recognition has helped sustain price strength during broader weakness. Traders will now watch to see if BONK can hold above trendline support and continue its upward path in the sessions ahead.
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