BONK, the Solana-based memecoin, is once again making waves. Not through viral hype this time, but through impressive technical strength and some very high-profile smart money activity.
In the past 24 hours, BONK has become the most bought token by smart money, with one particular strategic accumulation really standing out.
A wallet tied to @SquadsProtocol has begun a methodical campaign of dollar-cost averaging (DCA) into BONK, using funds in SOL to steadily obtain the token at predetermined intervals. The wallet is making what could best be described as a series of tauntingly close-to-the-money orders directed at BONK, creeping the price up very slowly but can’t-quite-get-it-done fashion.
As traders and analysts look for renewed early momentum in the memecoin market, a closely measured approach has BONK grabbing their attention yet again. This ties back to BONK’s recent rebound and remade, ostensibly strengthened technical structure.
Resilience at Support Levels Reinforces Confidence
BONK has recently displayed resiliency at a key support zone, jumping nearly 7% from its weekend low. This bounce has confirmed yet another defense of the SuperTrend and 50-day moving average (DMA) shelf in the $0.0000186 to $0.0000190 range—a zone BONK has tested and held multiple times in the recent past. Each successful defense adds credence to the notion that this is now an above-ground reliable support structure.
A key point is that the pattern of higher lows established in April is alive and well, and the market structure remains bullish. Price is now just 6-7% under the 200-DMA at $0.0000238, a level that, if breached, could open the floodgates to a new upside phase.
The “golden slope” is currently in play, with the 50- and 100-day moving averages trending upward—an arrangement often seen just before bullish breakouts. Traders are now closely focused on whether a decisive move above the 200-DMA can happen, which would join renewed buying interest from major players in pushing stocks higher.
Technical Indicators Signal Momentum Reacceleration
Currently, BONK’s technical indicators are showing strong signs of a bullish situation. The Relative Strength Index (RSI) is comfortably up at 62.89, and while this is always a signal that one should be using caution when looking to buy, it does show that the present buyers are in absolutely firm control of this situation. The RSI is always a signal about the current buying domination when the price direction is supposedly upward.
Volume has increased to between 130% and 170% of the 20-day average, which shows that recent price action is supported by strong participation rather than thin liquidity. This is a key factor when assessing whether a move has the strength to continue or if it’s merely a short-term bounce.
One of the more notable technical occurrences took place on May 19, when BONK lit up the VMC (Volatility Momentum Confirmation) indicator with a green dot. What this pattern has historically signaled is a rally in Bitcoin ranging from 18% to 25%. It’s especially notable now, as the price seems to be holding above key moving averages, coupled with a rise in volume.
📊 $BONK Technical Outlook – Knockin’ on the 200-Door 🐕$BONK has rebounded ~7% off the weekend low and once again defended the SuperTrend + 50-DMA shelf at $0.0000186–190. The April higher-low structure remains intact, and price now hovers just 6–7% beneath the critical… pic.twitter.com/zu7UpWyxQN
— CryptoS6☄️ (@cryptos6_bk10x) May 22, 2025
All of these signs, taken together, imply that BONK is reaccelerating—a condition in which the price not only goes up but where we can also have more confidence that it will go up in the future. We have entered this reacceleration phase after what looks like a reaccumulation phase. That’s an important distinction because reaccumulation often happens at key support levels in a structure. This next run-up with BONK is also bullish, meaning there may be several more run-ups in price with it before the end of this condition.
Disciplined Whale Accumulation Signals Long-Term Intent
What distinguishes BONK’s current configuration from that of many other memecoins is that it seems to be fueled by a presence of calculated, disciplined accumulation—not chaotic, manic FOMO buying. The wallet linked to the Squads Protocol appears to be employing a DCA (dollar cost averaging) strategy that has it deploying some $936,000 in bright-line buying—that is, buying at prices higher than the prices at which it had last bought—over 3,601 individual fills. On average, that amounts to a bit more than $260 per minute over the better part of a month (from mid-May to mid-June).
This manner that is being approached, particularly considering it is tied to a name well-known in the Solana ecosystem, indicates a burgeoning confidence, if not a full-on endorsement, in BONK at an institutional level. For smaller traders, it could also provide a kind of psychological floor: If these are the sorts of things happening with BONK, then surely it could see some upside (and is, at the very least, not completely bust).
While the larger memecoin market sways between trends and hype cycles, BONK looks to be forming a more stable identity. Its strong technicals, strategic accumulation, and growing volume make it a much more interesting play on Solana’s radar right now than other doggo coins.
Conclusion: A Breakout in the Making?
Having bounced neatly off support, with a good amount of volume behind it, and with a significant DCA campaign under way, BONK looks set for the possibility of a breakout. To confirm the bullish thesis, price needs to reclaim the 200-DMA. But the setup is being done both technically and through informed buying. Could this be the next meme coin to make a run?
- Rebounded ~7% from weekend lows
- Price structure stays whole above SuperTrend and 50-DMA.
The building up of assets in a wallet connected to the Squads Protocol demonstrates that there is a deep and long-lasting trust in the system.
– Continued upside is supported by volume and momentum indicators.
Should the current trend persist, BONK may be gunning for a powerful upside thrust—one propelled not by memes alone, but by strategy and structure.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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