BONK is gaining ground in the Solana memecoin wars, rising 4% on May 26 and trading near $0.00002051 after briefly breaking $0.00002174. The coin is now up 15% this month, bolstered by growing whale activity and a fading WIF.
Whale Accumulation Hints at Strategic Push
Blockchain tracking service Stalkchain reveals BONK was the most acquired token by smart wallets over the past week. A notable wallet linked to Squads Protocol executed a $936K DCA buy, signaling confidence in BONK’s long-term potential.
The wallet, now holding nearly $1.81M in BONK, has stopped accumulating, hinting that a new price phase could follow. While other Solana meme tokens saw significant outflows, BONK bucked the trend with positive net flows of $281K.
In contrast, Dogwifhat (WIF) saw $250K in net selling, making it the most offloaded Solana memecoin in the same timeframe.
Profitable Flip Adds Momentum; $15B Ambition Fuels Buzz
Short-term traders are cashing in too. A whale flipped $437K of BONK for a $34K profit in under 72 hours, contributing to BONK’s growing appeal among momentum players.
A well-followed trader projected BONK’s market cap could surge from $1.63B to $15B, citing roadmap upgrades and Solana-based DeFi synergies. The target implies an 8.2x upside, adding fuel to bullish narratives.
BONK Price Setup Signals Potential 172% Upside
Technically, BONK is forming a double-bottom reversal pattern with key resistance near $0.00003272. If this resistance breaks convincingly, Fibonacci extensions point to $0.000055 as a likely upside target.
The RSI sits at 51.49, not indicating overbought conditions, which provides technical room for another leg up. However, until confirmation, caution is advised—especially with memecoin launches increasing competition for attention.
