BONK Signals Trend Reversal After Soaring 12%

OI Surges To $23.68M

Currently priced at $0.00001595 after a 12.56% daily gain, the meme coin is approaching the critical $0.00001900 resistance.

If this level flips to support, BONK could rally toward $0.00003257. A rejection, however, may cause a pullback to the $0.00001350 to $0.00001400 zone.

Source: Coinglass

Open Interest (OI) in BONK derivatives also surged 17.28% to $23.68 million, indicating growing trader confidence. The OI-Weighted Funding Rate turned positive at 0.0064%, showing increased demand for long positions.

Long-Term Storage

BONK’s on-chain data shows $1.39 million in exchange outflows, suggesting investors are moving assets to long-term storage. This reduces selling pressure and supports continued upward momentum.

Meanwhile, a concentration of short positions between $0.01520 and $0.01650 raises the risk of a short squeeze. As prices climb, forced liquidations could accelerate BONK’s rally, pushing it swiftly past $0.00001900 toward $0.00003257.