BONK (the Solana-based meme token) traded around $0.000023 on Monday, down on the day but holding above recent support, with 24-hour volume near $460M. Can a surge in derivatives activity and this week’s US Federal Reserve meeting make Bonk price rally in September?
BONK shows signs of a corrective phase after a sharp run on the charts. The hourly pattern points to a retracement, which some traders see as a possible entry zone.
(Source – BONK USDT, Tradingview)
Earlier, the token broke out of a descending channel and completed a five-wave structure, peaking near $0.00002297 before sellers stepped in.
Derivatives trading remains active. Open interest on BONK perpetuals is holding near $245M, while futures turnover reached about $488M in the past day. The elevated activity reflects strong positioning into mid-September catalysts.
Macro factors are also in play. The US Federal Reserve meets Sept. 16-17, with its policy decision due Wednesday at 2:00 p.m. ET. Markets expect a 25-basis-point rate cut, which could trigger short-term volatility across risk assets before any longer-term effects take hold.
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BONK Price Forecast: What Does BONK’s Breakout From the Downward Channel Mean for Traders?
BONK is trading near $0.00002288, recovering slightly after its recent high.
Crypto analyst posted the chart on X, which shows a clear Elliott Wave pattern. The rally unfolded in five sub-waves and topped at wave “V.”
A correction is now underway, pointing toward key Fibonacci retracement zones.
The main support area sits between the 0.5 retracement at $0.00002290 and the 0.618 level at $0.00002193. A deeper move could test the 0.786 mark at $0.00002062 or even the 0.887 level at $0.00001988.
The broader picture stays bullish. Earlier in September, BONK broke out of a long downward channel, confirming a trend reversal.
The token could aim for fresh highs if prices hold within the retracement box and buying pressure returns. Upside targets stand above $0.00002600, with the next extension pointing toward $0.00003400.
Volume trends back this outlook. The breakout was accompanied by heavier trading activity, showing strong buyer participation. The current dip looks more like profit-taking and consolidation after a fast rally than a change in direction.
BONK Price Analysis: Will BONK Hit the $0.000032-$0.000035 Targets in the Near Term?
Inmortal, a crypto analyst, posted a chart on X highlighting renewed strength in Bonk (BONK/USDT) after its latest dip.
Bought a bag of $BONK on this dip
Because it feels like the last dip ever before parabolic
The R:R is too good to pass up pic.twitter.com/65NNBgkF43
— Inmortal (@inmortalcrypto) September 15, 2025
Technical signals suggest the token may be preparing for a sharp recovery.
On the four-hour chart, BONK has bounced from a critical support near $0.00002200, a zone that acted as a demand level during its recent consolidation.
The move comes after weeks of decline from late-August highs, with the token setting a mid-September low before building a recovery structure.
Traders call this level the “last dip,” pointing to strong buyer interest around the market inefficiency zone marked on the chart.
The sharp rebound signals that accumulation may already be underway.
The analysis outlines a potential bullish path, with targets between $0.00003200 and $0.00003500 in the near term.
If momentum holds, BONK could extend toward $0.00004200-$0.00004500, representing a parabolic rally.
From a technical view, the token has broken out of its local downtrend, and the successful retest of $0.00002200 support suggests that level may now serve as a base.
If BONK keeps setting higher lows, traders see room for a strong rally, especially if broader market sentiment turns more positive.
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Don’t Miss Out on the Next BONK: Maxi Doge Presale Crosses $2.2M – 100X Inbound?
Dogecoin (DOGE) made millionaires when it surged 302,000%. But with a $32Bn market cap and even Wall Street ETFs tied to its name, DOGE is no longer the wild ride it once was. – and the same can be said for BONK.
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At just $0.000257 per token, MAXI offers a ground-floor entry point with asymmetric upside that DOGE can no longer deliver.
This presale round closes in less than three days, after which the price will rise. Holders can also stake immediately at a dynamic 147% APY, adding another layer of value while waiting for listings.
If you see MAXI as the next DOGE, head to the Maxi Doge Token presale site and connect through Best Wallet, one of the best crypto and Bitcoin wallets available today.
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