BONK, Solana’s leading meme token, is once again capturing trader attention after rallying 8.39% ahead of a potentially historic 1 trillion token burn. The surge took the token from $0.000028 to $0.000029, briefly challenging resistance at the key psychological level of $0.00003 before seeing modest profit-taking.
The deflationary pressure from the anticipated burn is fueling investor optimism and renewed buying interest.
The sharp move is part of a broader trend that’s seen BONK establishing ascending lows, with consistent price support found in the $0.000027 to $0.000028 zone. Analysts note this consolidation range has created a strong technical base, allowing bulls to mount fresh breakouts on news-driven catalysts.
1 Million Holders to Trigger Massive Burn
The primary catalyst behind BONK’s latest run is its approaching 1 million holder milestone. BONK developers previously committed to burning 1 trillion tokens once the community crossed this threshold—a supply shock that many in the market see as a major bullish signal.
The milestone would represent one of the largest burns ever conducted by a Solana-based meme coin.
At current price levels, the 1T token burn would equate to roughly $29 million in token value removed from circulation. This could significantly tighten supply, particularly in tandem with growing retail and DeFi ecosystem interest in Solana-based meme assets.
Resistance and Profit-Taking
Despite the excitement, some selling pressure emerged near $0.00003, leading to a brief 1.58% pullback. This reaction is seen as a natural correction after rapid short-term gains, with some traders locking in profits ahead of the burn announcement.
Still, BONK remains one of the top-performing Solana-based assets this week, buoyed by both community hype and growing on-chain engagement.
Meme Coins Still Making Moves
The BONK rally comes at a time when meme coins are regaining momentum across the broader crypto market. With Ethereum meme coins like PEPE and FLOKI also showing signs of life, Solana-based tokens like BONK appear to be benefiting from sector rotation and renewed speculative flows.
If BONK breaks above the $0.00003 resistance with strong volume, analysts expect a push toward $0.000033 in the short term.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.