BONK price rises 7% as open interest surges
Bonk (BONK)
Editor:
Eugene Serbin
bitcoinethereumnews.com reports that Bonk (BONK) has climbed 7% on Tuesday, recovering from the previous day's identical gain to erase 14% of last week's losses. The Solana-based meme coin is attracting retail attention as leverage-driven demand pushes BONK Open Interest up 35% in the last 24 hours. CoinGlass data indicates that futures Open Interest rose 7% over the same period, reflecting a surge in the notional value of active perpetual contracts.
The OI-weighted funding rate sits at 0.0069%, implying traders are paying a premium for long positions. Price is currently holding steady above $0.00000300 while testing a bullish breakout of a resistance trendline connecting the May 10 and August 22 highs near $0.00000338. A confirmed break above this level could target the 50% retracement of the downswing from $0.00000831 to $0.00000222, located at $0.00000430.
Technical indicators support this outlook, with the Relative Strength Index rising to 59 from neutral levels. Additionally, the Moving Average Convergence Divergence and its signal line maintain a positive slope above zero, signaling steady bullish momentum. On the downside, a reversal below $0.00000275 could extend the decline toward the $0.00000222 swing low.
How the market reacted
Whalio's own Binance spot order flow for BONK, measured when this story was written up on 1 September 2026. Not the outlet's figures.
Whalio spot data shows a 51.0% buy ratio over the last hour, compared to 49.0% over four hours and 51.8% over 24 hours. The one-hour volume delta is positive at $4,124, while the four-hour delta is negative at -$27,977, and the 24-hour delta is positive at $115,716. The cumulative volume delta for the 24-hour close stands at +$496,914. This indicates that while short-term buying pressure has intensified in the last hour, the broader four-hour trend saw net selling. The buy ratio measures the proportion of trades executed by buyers versus sellers, while the volume delta represents the net difference between buy and sell volume. Net buying has occurred for 16 of the last 24 hours, with spot volume totaling $3,063,090 across 16,275 trades.
The latest daily buy ratio of 48.3% sits at the 27th percentile of the last 281 days, against a median of 49.6% - weaker buying than most days.
Twenty-four hours later
What BONK did over the 22 hours after the story broke. The market moves for its own reasons; this is what happened, not what the story caused.
Was that an ordinary day?
The same Binance spot measurements for BONK, averaged over the days leading up to the story.
Over the preceding week, the average buy ratio was 50.0%, making today's 24-hour ratio of 51.8% an increase of 1.8 percentage points. Spot volume was 1.04 times the weekly average, indicating slightly elevated activity. There were four days of net buying out of seven in the prior week. The price changed by -6.8% over eight days, with a total volume delta of -$39,634. This suggests that while today shows stronger buying sentiment than the weekly average, the coin remains in a broader downtrend compared to the previous week's performance.