Bonk (BONK), the popular Solana-based memecoin, is following the market-wide resurgence. CoinGecko data shows that the memecoin has rallied 7.8% in the last 24 hours, nearly 1% in the last week, and 3.8% in the 14-day charts. Nonetheless, BONK’s price has fallen by 27.3% in the last month and 53.3% since February 2025. Let’s discuss if BONK’s price will continue its rally in the coming weeks, or is it just a dead cat bounce?
Can Bonk Sustain Its Price Rally?
BONK’s rally is likely due to the general market upswing today. Bitcoin (BTC) briefly reclaimed the $69,000 price level, triggering a market-wide rally. The upswing was likely due to investors buying the dip, leading to a liquidity spike. However, the rally may be short-lived as the crypto market is still not out of the woods.
Additionally, risk appetite among investors is still quite low. BONK, being a memecoin, carries substantial risk. Investors may book profits over the coming days, leading to another price correction. Bitcoin (BTC) already faced a rejection at $69,000. The development could be a signal that we are heading for another market correction. BONK, and other memecoins, will likely face steep price dips if BTC faces a correction.
CoinCodex analysts are also not sold on BONK’s current price rally. The platform anticipates the memecoin to face a correction over the coming day. According to CoinCodex data, BONK will trade at $0.000004492 on Mar. 7, 2026. Dipping to $0.000004492 from the current price levels will entail a correction of about 28.75%.
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BONK will likely enter a full swing recovery mode once the larger crypto market is back on its feet. Macroeconomic uncertainties, geopolitical tensions, and a liquidity crunch may keep investors away from risky assets for the time being. However, the trend could change later this year.
