- Inflows surpassed outflows as BONK retested the breakout with rising derivatives interest.
- Positive funding and dense liquidation clusters hint at potential upward acceleration.
Bonk [BONK] has successfully retested the upper boundary of a falling wedge pattern after breaking out of it on the daily timeframe. This move often signals the start of a sustained rally, especially when backed by increasing market confidence.
The ability to hold above this structure confirms strength and sets the stage for a possible upward extension.
At the time of writing, BONK traded at $0.00002041, marking a 5.32% increase in the past 24 hours.
Source: TradingView
Spot flows show bullish pressure with inflows surpassing outflows
On-chain spot activity has aligned with bullish sentiment, with BONK recording $14.18 million in inflows compared to $12.91 million in outflows.
This net inflow of over $1.27 million highlights growing accumulation pressure, suggesting more tokens are being held rather than sold.
Such imbalances typically support upward price movement. Moreover, this buying interest surfaced just as BONK stabilized above its breakout level, reinforcing the possibility of a continuation rally.
Source: Coinglass
Traders gear up as hype cools: Is BONK prepping for a breakout?
Speculative interest in BONK is gaining momentum, with derivatives volume rising 26.41% to $60.75M, while Open Interest (OI) increased 15.81% to $23.86 million.
This suggests traders are positioning for a significant move, likely anticipating a confirmed breakout. Additionally, rising OI during a price increase often signals new long positions entering the market.
Despite strong technical momentum, BONK’s social metrics have declined since late April, with social dominance dropping to 0.056%.
This decline in hype indicates a consolidation phase, where speculative chatter slows, and market structure takes precedence. Interestingly, such quiet periods often set the stage for larger price movements once sentiment rebounds.
Source: Santiment
Bullish bias builds as BONK approaches key liquidation trigger zone
The shift in BONK’s funding rate further supports the bullish case. At press time, the OI-Weighted Funding Rate printed +0.0091%, confirming a positive tilt in trader bias.
This move from neutral territory to a clear long-heavy sentiment implies traders are increasingly confident in BONK’s upward potential.
When Funding Rates trend positively in tandem with rising OI, it often suggests conviction behind the longs.
The OKX liquidation heatmap reveals a dense cluster of short liquidation levels around $0.000021 and above. This creates a potential fuel zone that could trigger a cascading squeeze if BONK pushes through this area.
As the price approaches this resistance pocket, trapped shorts may be forced to close positions, accelerating upward momentum.
Source: Coinglass
Can BONK capitalize on momentum to target $0.000025?
BONK has remained strong, successfully retesting and holding its breakout level, backed by bullish spot flows, rising speculative activity, and a positive Funding Rate.
While social buzz has temporarily declined, the solid market structure indicates potential for another rally.
If BONK surpasses the crucial $0.000021 liquidation cluster, a rapid climb toward $0.000025 is increasingly likely. As long as inflow dominance and trader confidence remain intact, price action should stay favorable.
