BONK Crypto Blasts Back: Why is Crypto Going Up? Is BONK Best Memecoin to Bid in 2026?

[Ben Graham]

BONK crypto’s sharp rebound is turning the early-2026 crypto bounce into a fresh test of “meme season” risk appetite.

Bitcoin and major altcoins climbed over the last day. That move pulled higher-beta corners of the market along with it, including Solana-based memecoins such as BONK crypto.

On Wednesday, Jan. 7, crypto prices drew support from new-year positioning and fresh institutional headlines. 

According to Reuters, those included another round of US ETF filings tied to Bitcoin and Solana.

In spot trading, Bitcoin traded near $93,445. Ether changed hands around $3,287, while Solana hovered close to $140.83.

In this backdrop, BONK traded near $0.000012, with about $503 million in 24-hour volume and a market value of roughly $1.04 billion.

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Could New ETFs Bring Fresh Inflows to Bitcoin and BONK?

Morgan Stanley has taken another step into digital assets. 

Reuters reported that the bank filed with the US Securities and Exchange Commission to list exchange-traded funds tied to Bitcoin and solana. 

It marks a steady push by major financial firms to turn crypto into a more familiar investment product.

In trading this week, Bitcoin tried to move back toward the mid-$90,000 range. Solana hovered near the $150 level, a zone many charts have focused on. 

MarketPulse noted that both assets are testing areas that traders treat as important for short-term direction.

As Bitcoin held above $90,000, smaller tokens saw heavier action. CoinGecko data showed strong swings in memecoins such as BONK as traders took on more risk. 

The market now waits to see whether Bitcoin can build a stronger base and whether institutional products like the proposed ETFs will draw in the next wave of inflows.

Morningstar ETF analyst Bryan Armour told Reuters that a big bank joining the crypto ETF space “adds legitimacy” and could bring more traditional players into the market.

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BONK Price Prediction: Has BONK Crypto Escaped Its Bearish Structure?

A crypto analyst is also tracking a sharp breakout in BONK after months of steady decline. 

The chart shows the token turning higher with a strong bullish candle at the start of 2026, lifting BONK/TetherUS to around 0.00001374.

Before this move, BONK crypto spent weeks inside a narrow consolidation zone near 0.00000750–0.00000820. 

That range came after a falling channel that pulled the token lower through November and December. 

$BONK – @bonk_inu update.

1445 is my first main target for $BONK. pic.twitter.com/xl5Wd5yWWj

— DonnieBTC (@DonnieBitcoin) January 6, 2026

The breakout pushed through a descending trendline and moved above an earlier resistance band highlighted in red. 

Momentum has now shifted upward. The analyst noted a chance of a brief pullback before another push.

The first upside target is near 0.00001450. A second, wider target sits close to 0.00001700. 

“BONK crypto has finally escaped its bearish structure and is setting up for continuation if support holds on dips,” the analyst said.

The structure points to a trend reversal with buyers returning to the market.

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Key Takeaways

Bitcoin and major altcoins climbed over the last day.

BONK crypto’s sharp rebound is turning the early-2026 crypto bounce into a fresh test of “meme season” risk appetite.

The post BONK Crypto Blasts Back: Why is Crypto Going Up? Is BONK Best Memecoin to Bid in 2026? appeared first on 99Bitcoins.