BONK price gains 60% in a week as Solana memecoins make a comeback

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Source: Cointelegraph/TradingViewThe sharp rise in the relative strength index and its position at 71 in the overbought region reinforces the buyers’ dominance in the market. However, the overbought conditions could facilitate profit-taking, occasioning a slight correction before BONK continues its uptrend. “$BONK’s descending trendline got cleared,” declared popular analyst World of Charts in an April 28 post on X, “expecting 2x in the coming days.”Meanwhile, Crypto Joe spotted BONK breaking out of a bullish pennant in the 30-minute timeframe targeting $0.00002690.

Increasing open interest backs BONK’s rallyThe surge in the price of Bonk over the last seven days comes after a significant jump in its open interest (OI). BONK’s total OI on all exchanges rose 290% from $11 million on April 22 to $43.2 million on April 26.

BONK’s open interest surged 290% to $43.2 million. Bonk (BONK), the second-largest Solana-based memecoin by market capitalization, is on track to continue the recovery it began on April 22.

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Author / Journalist: Cointelegraph by Nancy Lubale

Category: Crypto

Markets: United States

Topics: Last Market Days Seven Memecoins April Interest Bonk Memecoin Bonk’s Price

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-29 @ 01:15:00 (22 hours ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 705 words

Reading Time: 4 minutes read

Sentences: 36 lines

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Copyright Owner: © Coin Telegraph

News ID: 28276858

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