Bonk Set for Breakout as Token Burn Nears and Smart Money Backs In

Key Insights:

BONK prepares for a 1 trillion token burn as the number of holders approaches the 1 million mark, reinforcing scarcity momentum.

Grayscale’s institutional watchlist inclusion boosts investor confidence and signals growing legitimacy in the broader crypto market.

Smart money holdings surged 594% in a month, indicating rising interest from large capital investors backing BONK’s long-term growth.

BONK traded at $0.000034 on Monday morning, marking a 200% increase from last month’s low and a 266% gain from this year’s bottom. The memecoin currently holds a market capitalization of $2.7 billion, still trading 40% below its all-time high recorded in November 2024.

The BONK development team has revealed plans to execute a 1 trillion token burn upon reaching 1 million on-chain holders. Data from Solscan shows the project is fewer than 32,000 holders away from achieving the milestone, which could occur within days. This initiative follows a previous burn of 500 billion tokens worth $16.7 million, removed from circulation last week.

Institutional Watchlist Boosts Sentiment

Grayscale has added BONK to its Q3 2025 institutional watchlist, signaling growing market recognition. This listing has improved the token’s credibility among investors, prompting broader interest beyond speculative trades.

Data from Nansen shows smart money wallets now hold approximately 80.44 billion BONK tokens. This marks a 594% increase in holdings since late June. This level of accumulation is typically followed by increased retail activity, often reinforcing upward price movements.

Technical Setup Signals Breakout Potential

BONK is preparing on the daily chart to construct a symmetrical triangle, which is usually observed before a powerful price action. The 50-day moving average has crossed over the 200-day, and the golden cross has been made. It is a typical bullish pattern.

Source: TradingView

The relative strength index (RSI) is at 70, which shows that buyers are still active. MACD is still positive, which results in the fact that the bullish forces are still present, though there was a period of consolidation.

However, in case BONK busts the existing trend, then according to flagpole count, the possible price area to hit will be around $0.000071, which is a 108.00 percent upside of the current value. Nevertheless, it should exceed important resistance at the rate of 0.000041, which used to restrict price growth.

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