Bonk Surges 5% In A Day, Outpacing Dogecoin, Shiba Inu: What's Driving The Rally?

Bonk BONK/USD is up 5% on Wednesday, with traders anticipating the rally to continue further.

Cryptocurrency	Price	Gains +/-
Bonk BONK/USD	$0.00001259	+4.7%
Dogecoin DOGE/USD	$0.1759	+1.1%
Shiba Inu SHIB/USD	$0.00001281	-1.3%

What Happened: Crypto trader Cold Blooded Shiller pointed out that BONK has experienced a massive sweep of the lows, testing a historically significant level.

He emphasized that stability and confirmation are needed before confidence can build for a larger move.

$BONK is another market I think is an interesting position with a huge attack on all of the lows.

It needs to find some stability through this historic level to solidify.

Relative simple TA, but still some work to be done here to increase confidence. pic.twitter.com/AuqsitgrUC
— Cold Blooded Shiller (@ColdBloodShill) March 31, 2025

Analyst Crypto Chase stated that he is still holding 1% of his BONK position, watching how it interacts with the monthly support level that previously triggered a strong rally.

This is its first retest in over a year, and he expects the meme coin to bounce towards more than $0.02 over time.

Also Read: Why Are Dogecoin, Shiba Inu Down Over 15% In The Past Week?

Why It Matters: Bonk's price movement coincides with its recent acquisition of Exchange Art Marketplace, a major platform in the digital art sector.

This strategic move could expand BONK's real-world utility, strengthen its presence within Solana's creator economy and drive long-term value growth as use cases increase.

Prominent trader Unipcs highlighted Bonk's strength as one of the top-performing tokens in the top 100.

Another trader believes it has the potential to join Dogecoin and Pepe in the $100 billion club at the market cycle's peak.

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