BONK Soars Over 60% in a Week: Is $0.000040 Next?

BONK Breaks Out and Rockets Upward

Holy moly, BONK is on fire! This memecoin just blasted out of a months-long descending channel and is now rocketing upward with green candles day after day since the epic breakout on July 2. Today, it hit a mind-blowing intraday peak of $0.000024 and is now testing a major resistance zone that's been a big deal since early May. Since busting above that descending trendline at around $0.000015, BONK has skyrocketed over 60%. Hold on tight, folks!

Bullish Catalysts Fueling the Rally

What's driving this insane rally? It's all about those bullish developments with token burns and ecosystem growth. The Bonk team just dropped a bombshell last week, saying they'll burn a whopping 1 trillion BONK tokens once they hit 1 million holders. And guess what? They're already at 950,300 holders according to CoinGecko Terminal. We're talking about hitting that target any day now!

But wait, there's more! Bonk Foundation's token launchpad, LetsBONK.fun, which launched on April 25, just blew past Pump.fun in daily revenue. That's fantastic news for BONK holders because 50% of that sweet revenue goes straight to BONK buybacks and burns. Talk about adding some serious deflationary mojo!

And hold onto your hats, because Tuttle Capital Management just confirmed that July 16 is the earliest possible launch date for their new suite of leveraged crypto ETFs, including a 2× BONK ETF. Buckle up, baby!

BONK Approaches a Critical Decision Point

BONK is now staring down a crucial moment: if it can close above the $0.000024–$0.000025 range, we could be looking at a massive bullish continuation pattern. We're talking about a breakout from a cup-and-handle formation with upside targets zooming toward $0.000040 based on the pattern's depth. Get ready for liftoff!

But hold on, there's a catch. With the RSI hovering above 75, BONK has entered overbought territory, which means we might see some short-term consolidation or a pullback before the next big move. If the price does pull back, keep an eye on the $0.000018 zone, which could hold as support. It's been tested and rejected as resistance before the final breakout, so it's a key level to watch.