Solana-based memecoin Bonk (BONK) has experienced a dramatic rebound, soaring nearly 73% since its April 22 low to touch a new all-time high of $0.00002167 on April 28. Now trading at $0.00001923, the token has enjoyed a strong 60% weekly gain that has rekindled interest among both retail and institutional investors. This surge follows broader gains across memecoins like Dogecoin and Shiba Inu, which have posted modest but notable increases of 3% and 5% respectively over the past week. 73% surge by Bonk itself highlights a renewed excitement for risk-on assets, with the total memecoin market cap now standing at $55.5 billion – up an impressive 17.5% in just seven days. This rally has been fueled by a confluence of factors: surging speculative interest and a booming social media presence. Open interest (OI) for BONK futures saw a remarkable jump, soaring 290% from April 22 to April 26, from $11 million to over $43 million. This spike in OI is supported by the rising funding rate, a metric indicating heightened bullish sentiment among futures traders who expect prices to climb higher. The Bonk price surge is further fueled by exploding trading volume that has surged 98% in just 24 hours, reaching a staggering $478 million. While market cap briefly touched $1.7 billion before retracing to $1.5 billion, this indicates healthy capital inflows and increased trader activity. Social media chatter has also played a significant role, with Bonk’s social dominance rising from 0.091% to 0.572% in just six days. This surge in online mentions and discussion has further fueled FOMO (fear of missing out) across the cryptocurrency community. The combination of price momentum, increased trader engagement, and a booming social media presence has pushed Bonk to new heights.