Memecoins News: BONK Price Surges 60% in a Week as Solana Memecoins Lead Crypto Rally

BONK (BONK), the second-largest Solana-based memecoin by market capitalization, has posted a massive 60% gain over the past week, fueled by a broader memecoin rally, surging futures activity, and a bullish technical breakout. The memecoin frenzy shows no signs of slowing, with BONK eyeing further upside potential.BONK Price Climbs 73% Since April 22, Hitting a 5-Month HighBONK's price has rallied approximately 73% from its April 22 low of $0.00001247, reaching an intraday peak of $0.00002167 on April 28, according to Cointelegraph Markets Pro and TradingView data. As of April 29, BONK trades around $0.00001923, up 3% in the last 24 hours and 60% over the past seven days.BONK’s 24-hour trading volume surged by 98% to $478 million, briefly pushing its market capitalization to $1.7 billion before settling at approximately $1.5 billion.Memecoins See a Broader Comeback Across the Crypto MarketBONK’s surge aligns with a wider bullish trend across the memecoin sector:DOGE gained 3% and SHIB rose 5% over the past week.Official Trump (TRUMP) soared 73%, reflecting renewed political memecoin interest.BRETT on the Base network jumped 83% in the same period.The total memecoin market cap has expanded to $55.51 billion, representing a 17.5% increase week-over-week, per CoinMarketCap. Over $7.96 billion in memecoin trading volume was recorded in the past seven days, an 85% rise, signaling heightened investor risk appetite.BONK Futures Open Interest Triples in One WeekSupporting BONK’s price surge, open interest (OI) in BONK futures has surged:BONK’s OI rose 290%, from $11 million on April 22 to $43.2 million by April 26.Current OI stands around $28 million, significantly above the levels observed since late 2024.Data from CoinGlass shows rising demand for leveraged long positions, as reflected in the positive funding rates, indicating continued bullish sentiment among futures traders.Social Media Buzz Boosts BONK’s PopularityBONK’s social dominance also spiked sharply:Santiment data shows BONK's social dominance rose from 0.091% to 0.572% between April 20 and April 26.High social activity has increased retail and institutional interest, amplifying FOMO (fear of missing out) and further driving demand.BONK Breaks Key Technical Levels: What’s Next?BONK's price action recently triggered a bullish breakout:On April 13, BONK broke out of a multimonth descending parallel channel, flipping the 50-day and 100-day exponential moving averages (EMAs) to support.BONK now faces key resistance at $0.00002410 (the 200-day SMA).A daily close above $0.00002410 with strong volume could propel BONK toward the January 19 range high near $0.000040, representing a potential 104% gain from current levels.However, the Relative Strength Index (RSI) sits at 71, signaling overbought conditions, which could trigger short-term profit-taking before the next leg higher.Analyst World of Charts commented: “$BONK’s descending trendline got cleared. Expecting 2x in the coming days.”Meanwhile, Crypto Joe identified a bullish pennant breakout on the 30-minute timeframe, setting an upside target of $0.00002690, according to Cointelegraph.Key Highlights:BONK price is up 60% in a week, leading Solana-based memecoins.Futures open interest in BONK tripled in 7 days, signaling strong speculative demand.A breakout above $0.00002410 could trigger a move toward $0.000040.Overbought RSI suggests a brief correction could occur before further gains.