Bonk (CRYPTO: BONK) is stealing the spotlight from Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) as traders position for what some call the next "Solana supercycle," with technicals and on-chain data aligning for a potential 400% breakout.
BONK Price Targets 400% Breakout
BONK Technical Analysis (Source: TradingView)
The daily chart reveals BONK pressing against a long-term descending trendline near $0.000022, with multiple failed retests since July.
Price is consolidating just below the major EMA cluster between $0.0000207–$0.0000220, creating a dense resistance zone.
Support remains firm at $0.000018, where buyers have repeatedly stepped in during September.
A breakout above $0.000022 would confirm a trend reversal, projecting a move toward $0.000038–$0.000040.
Wall Street-Backed Accumulation Lifts BONK
Safety Shot Inc. (NASDAQ:SHOT) disclosed that its subsidiary BONK Holdings LLC now owns over 2.7% of BONK's circulating supply, with plans to increase its stake to 5% by end-2025.
The purchase positions BONK among a small group of meme assets with publicly disclosed corporate exposure.
This move highlights BONK's growing role within the Solana (CRYPTO: SOL) ecosystem, where it operates as a low-cost, high-speed utility token.
Whales Signal Confidence In BONK
BONK Netflows (Source: Coinglass)
According to Coinglass data, BONK saw $355,000 in exchange outflows on Oct. 8, marking a continuation of negative netflows.
These outflows suggest that large holders are moving tokens into private wallets.
BONK's on-chain structure points to long-term holding behavior rather than short-term trading, improving the token's breakout probability.
Why It Matters
If BONK breaks above the $0.000022 resistance cluster, the next targets lie near $0.000030 and $0.000040.
BONK's rise is not just another meme coin story.
What makes it striking is the blend of institutional ownership, whale accumulation, and Solana integration, creating a setup that rivals DOGE and SHIB during their breakout eras.
Safety Shot's corporate disclosure adds legitimacy, while BONK's active utility within Solana gives it a structural advantage most meme tokens lack.
This raises a deeper question for traders: are we watching the birth of the first meme asset to transition into a real utility-backed market leader?
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