Bonk (BONK) is experiencing quite a price surge today, March 18, 2026, after months of struggle. According to CoinGecko’s BONK data, the Solana-based memecoin has rallied 6.2% in the last 24 hours, nearly 17% in the last week, 15.2% in the 14-day charts, and 5.6% over the previous month. In fact, BONK is currently outperforming top crypto assets, such as Bitcoin (BTC), Ethereum (ETH), XRP, etc. Let’s discuss if BONK can continue its upward momentum, or will its price rally come crashing down.

Can BONK Sustain Its Price Rally?

BONK’s rally comes amid a larger crypto market resurgence. The crypto sector saw an upswing after potential US-Iran de-escalation rumors. Moreover, the US removing certain sanctions on Russian oil may have also boosted investor sentiment.

However, the primary reason for BONK’s incredible rebound is likely due to the SEC’s recent verdict to classify Solana (SOL) as a digital commodity. Moreover, SOL-based digital collectibles, such as memecoins, would fall under non-securities. The move may have led to a massive boost in investor confidence for BONK.

Also Read: Solana Breezes To $93: Can SOL Hit $100 This Week?

However, the crypto market is still not back at full potential. Investors may have put funds into BONK and other Solana-based memecoins based on the SEC announcement, but they may book profits, given the larger bearish market environment. Tensions in the Middle East are also far from over. Another escalation could lead to an other market crash. Memecoins, such as BONK, could face the brunt of the crash, if we head in such a direction.

CoinCodex analysts are also not sold on BONK’s latest price rally. The platform anticipates the memecoin to face a correction towards the end of this month, falling to $0.000004619 on March 27, 2026. Dipping to $0.000004619 from current price levels will entail a correction of about 33.10%