BONK eyes a major rally this week as bullish signs emerge

BONK appears poised for a decisive breakout backed by a massive token burn initiative and an uptick in smart money accumulation.

According to data from crypto.news, Bonk (BONK) was trading at $0.000034 last check Monday morning, Asian time, up nearly 200% from last month’s low and 266% from its lowest point this year.

With a market cap of $2.7 billion, the memecoin is still 40% below its all-time high reached in November last year.

What could drive Bonk’s price this week?

Bonk’s rally will be fueled by multiple catalysts this week.

First, the Bonk team has announced plans to burn 1 trillion BONK tokens from the total supply once the project reaches 1 million on-chain holders. Data from Solscan shows fewer than 32,000 holders remain, suggesting the milestone could be achieved by the end of this week. 

The deflationary initiative comes shortly after the project removed 500 billion tokens, roughly worth $16.7 million, from circulation last week.

Such large-scale token burn initiatives enhance scarcity-based sentiment among investors and potentially could drive long-term price appreciation for BONK.

Second, Grayscale’s recent decision to include BONK in its Q3 2025 institutional watchlist marks a turning point in how the token is perceived, with many holders now viewing it less as a speculative gamble and more as a credible asset for broader market engagement.

Third, Smart money investors seem to have taken an interest in the memecoin. According to data from Nansen, smart money wallets now hold approximately 80.44 billion tokens. This accumulation trend has intensified over the past month, with the latest figure marking a 594% surge since late June.

This level of accumulation by well-capitalized players often translates into retail FOMO, as markets tend to follow smart money.

BONK poised for breakout from Symmetrical Triangle

On the daily chart, BONK looks ready to break out from a symmetrical triangle pattern that’s been forming over the past few weeks.

A symmetrical triangle is a continuation pattern that forms when price moves between converging trendlines after a sharp move, called the flagpole. When this pattern appears, the rally typically pauses and consolidates before continuing in the direction of the initial trend.

Adding to the bullish case, the 50-day moving average has crossed above the 200-day, forming a golden cross, typically a strong signal for further upside.

Momentum remains supportive of a breakout. The RSI hovering near 70 indicates sustained buying pressure, which often precedes further upside, especially during consolidation phases like a symmetrical triangle. While a brief pullback could occur if RSI crosses into overbought territory, the current reading suggests buyers are still in control. 

The MACD holding in positive territory reinforces this view, showing that bullish momentum has not yet faded despite the recent slowdown in price action.

If the breakout plays out, the target based on the flagpole’s height comes in around $0.000071, which is about 108% above current levels. But first, BONK needs to clear resistance at $0.000041, a level it has struggled with during its previous run.