crypto.news
$BONK price is holding a critical support level, setting the stage for a potential 60% surge as continued token burning reinforces cautiously bullish technicals.
- $BONK is holding above a key support zone around $0.000025, aligning with the EMA 50, signaling potential rebound.
- A move above EMA 20 could trigger a rally toward $0.000032–$0.000035, with $0.00004075 as the upside target.
- Significant token burning from LetsBONK.fun—300 billion $BONK recently burned—adds strong deflationary pressure.
- Continued strong trading volume and burn-backed tokenomics support a potential 60% price surge from current levels.
Bonk ($BONK) price appears to be staging a reversal following its sharp 40% drop from peak of the recent parabolic rally, which began from the June 22 low of $0.00001143 and peaked at $0.00004075 on July 17, marking a staggering 256% gain. During this pullback, $BONK price slipped below the EMA 20 and kept falling until the price bottomed at $0.00002411 on August 2. However, the EMA 20/50 bullish crossover remains intact, signaling continued upward momentum despite this correction.
$BONK price up 60% back to its July peak? - 1"> Currently, $BONK price is consolidating firmly above the EMA 50. The memecoin‘s price is also holding at a key horizontal level — previously resistance, now acting as support — around $0.000025 – $0.000026. This zone is significant because:
- It marks a prior breakout level where $BONK faced multiple rejections in late 2024 and in May this year. The recent rally only took off after this resistance was cleared.
- Volume profile around this zone has historically shown strong accumulation, indicating that buyers consistently stepped in here.
- The EMA 50 is aligning with this range, which adds confluence to the horizontal level and strengthens the case for a potential rebound from it.
If $BONK price holds this support and reclaims the EMA 20 at around $0.000028, it would confirm a short-term shift in momentum back to the upside. A clean move above that could trigger a run toward the $0.000032–$0.000035 range, with the July high at $0.00004075 as a potential upside target.
Invalidation would come on a confirmed breakdown below $0.000024 on strong volume, which could open the door to deeper retracements toward $0.000017, where the next structural support lies.
$BONK token burning as key catalyst
One fundamental catalyst that can help $BONK price launch from this level to previous peaks is the continued burning of $BONK tokens. The team just announced that 300 billion $BONK was burned from fees generated at LetsBONK.fun, adding significant deflationary pressure at a critical technical support.
According to the platform’s dashboard:
- 50% of all revenue is allocated to Buy/Burn, where $BONK tokens are purchased on the open market and permanently removed from supply.
- On August 2, over 141,868.67 $SOL was used just for burning, out of a total 283,736.33 $SOL in platform revenue — showing that half of the income is actively used to drive deflation.
- With a 24-hour volume of $126.85M and $1.06M in fees generated, $BONK continues to benefit from strong trading activity feeding into the burn mechanism.
To sum up, $BONK is not just relying on technicals — it’s backed by solid tokenomics. If the burn momentum continues and price reclaims the EMA 20, a move back toward the July 17 peak of $0.00004075 becomes a real possibility. From the current level, this would mark a 60% gain.
