The price of BONK could still increase by 74%, but a prior correction might be needed.

BONK experienced a remarkable growth this week, with a price increase of approximately 46% over the past seven days—outperforming most other meme coins. However, price volatility has not fully reflected what is happening. Upon deeper analysis, it can be observed that the number of new users has surged, large wallets have been accumulating early, and the price structure still has room to continue upward. Nevertheless, the upward momentum may temporarily pause before continuing.

The key point is not the continuous daily price increase, but whether buying pressure can sustain after the initial breakout.

BONK User Activity Surges Alongside Price

An important indicator is the number of active addresses. This metric shows the number of unique wallets conducting BONK transactions each day. When this number increases, it usually indicates that more people are actively using or holding the token, rather than just engaging in short-term trading.

Active Addresses | Source: SantimentIn early January, BONK recorded around 4,700 active addresses. By January 5th, this number nearly tripled to nearly 13,000 addresses. This is an impressive growth in a short period.

The significance of this lies in the fact that many meme coin price rallies often fail when they only attract short-term traders. When wallet activity increases significantly like now, it indicates genuine and broader interest. Even if BONK’s price temporarily stalls, the increase in activity still supports a positive trend.

As of now, BONK’s usage has grown in tandem with its price, indicating a solid foundation for an upward trend.

Large Wallets Early Accumulation, Then Pausing

Another factor to observe is the behavior of “whales”—wallets holding large amounts of tokens. For BONK, this group includes wallets holding from 100 million BONK to 1 billion BONK.

Since December 31st, the total BONK held by these wallets increased from approximately 2.7227 trillion BONK to 2.7321 trillion BONK, adding about 9.41 billion BONK during the initial phase of the rally.

BONK Whales | Source: SantimentAfterward, the holdings of large wallets remained almost unchanged. This does not mean they sold, but simply that they stopped buying at higher prices.

This is a common strategy among large investors: buy early when prices are low, then observe as the market heats up. They often wait for stability before making their next move.

Currently, there are no clear signs of these large wallets divesting. They continue to hold the BONK they accumulated earlier.

BONK Price Structure Still Shows Growth Potential

The BONK price chart shows a strong rally followed by sideways movement, reflecting a pause among buyers after a breakout.

BONK Price Action | Source: TradingView As long as BONK stays above the $0.000010 level, this price structure remains intact. If the price breaks above $0.000012, it would signal that buying pressure continues to dominate. Conversely, if the price drops below $0.000010, the upward trend could reverse.

In terms of potential, the previous rally allows for an estimated growth of up to approximately 74%, if BONK continues its upward trend in the near future.

However, the (MFI) money flow index also indicates a possible correction. This index has entered overbought territory and has been sideways recently, signaling expectations of a price correction that could attract more buying interest at lower levels.

Some meme coin market analysts also point out an important confirmation threshold: if BONK surpasses $0.00001687, the next bullish trend could be triggered. Before reaching this level, minor corrections or sideways oscillations are considered normal.

For short-term support, the $0.00001069 zone is crucial and aligns with the TCR price chart. If BONK approaches this zone without dropping further, it is still viewed as a positive development after a strong rally.