BONK Price Rises 5% Following the New BONKfun Bagwork Bounties, Bulls Eye $0.0000071

Highlights:

• Bonk price has surged by 5% to trade at $0.0000061 mark today.
• The recent rise comes following Bonk.Fun’s bounty program offering $7000 daily.
• The technical view shows a potential upside, as the memecoin eyes $0.0000071 resistance in the short term.

BONK price is already up 5.89% to trade at $0.0000062 mark today. Notably, the daily trading volume has increased by 53% to $68 million, indicating heightened market activity. To encourage new tokens to be introduced in Balanced Mode, BONK.fun has implemented a bounty program of $7,000 in per day. Notably, the BONK technical picture indicates a promising recovery, as the 50-day SMA acts as support, with bulls targeting the $0.0000071 mark. 

Bonk.fun Introduces BONKfun Bagwork Bounties

In an X post on Tuesday, BONK.fun provided a new incentive program, namely, BONKfun Bagwork Bounties. The program is set to provide seven new Solana-based memecoin communities with seven days of bounty of seven thousand dollars($7000) per day.

BONK.fun serves as a rescuer of the bagworking culture to the memecoin communities. This is a vigorous marketing campaign to support the spot prices and retail demands. This new project will screen the meme coins with a market capitalization of more than 100,000, using the indicators of leadership, the quality of content, and their development and activity on the chain.

Introducing BONKfun Bagwork Bounties

We heard feedback that the incentive to bagwork memecoins has dropped off recently, and we’re committed to experimenting with ways to bring that spirit back to the trenches. We’re giving away $7,000 each over the next 7 days to 7 new, strong… pic.twitter.com/ysw13b2j9p

— BONK.fun (@bonkfun) March 24, 2026

During this period, the evaluation will focus on effort from the CTO lead, content quality, community growth, and on-chain metrics. These factors are intended to help identify the most promising and genuinely active token projects within the ecosystem.

In addition, organizers will closely monitor for any signs of gaming, manipulation, or artificial engagement. Any token found violating these standards will be disqualified from consideration. The winners of the evaluation process are expected to be announced on or shortly after April 1st, marking the conclusion of this review period.

BONK Price Eyes Further Upside Towards $0.0000071

BONK’s daily chart price action has caught the investors’ attention with strong support and resistance shown at key moving averages. The meme coin is now trading at $0.0000062, just above the 50-day Simple Moving Average (SMA) at $0.0000061. However, the immediate resistance zone around $0.000011, aligning with the 200-day SMA, is cushioning the bulls against any upside.

Currently, the BONK price is consolidating within a descending triangle pattern. If the meme coin can surge past the $0.0000071 level, the price may target the next resistance near $0.0000089-$0.000011. Support is strong at $0.0000061 (50-day SMA). A drop below this could trigger more selling down to $0.0000051, recent lows, last recorded on 6 February. However, the buyers are defending these levels tightly.​​

Technical indicators also point to more upside, as the RSI stands at 52.82. This shows solid momentum but not an overbought market. If the meme coin closes above $0.0000071 in the coming days, it could quickly advance to $0.0000089-$0.000011 resistance zones. A rejection at resistance($0.000011) might see the meme coin fall toward support, but as long as it stays above $0.0000061, the overall trend looks positive.​​