The Bonk price has surged recently which seems like it is fueled by increased excitement around its Solana-based ecosystem and heightened market activity. In just five days, the meme-token skyrocketed over 70% gains from $0.000013 to a peak of $0.000022, showing bullish strength.
More precisely, the impressive rise can be attributed to the growing popularity of LetsBonk. More recently, Dune analytics revealed that LetsBonk deployed significantly higher meme coins today, surpassing Pump.fun’s.
Similarly, the anticipation of an ETF filing and a planned one trillion token burn in December has also exploded investor confidence. As a result, the Bonk price is witnessing an explosion, with the market cap hitting $1.76 billion, which has even flipped the TrumpCoin market cap of $1.70 billion.
Currently, Bonk price can be seen exchanging hands at $0.00002240, comfortably breached above the 200-day dynamic EMA band while its upper boundary of the Bollinger Bands has also expanded upwards.
This bullish trend is further supported by majority of its technical indicators on BONK’s daily chart that reflect short-term strength. Like, the Chaikin Money Flow (CMF) is displaying a strong capital at 0.25. Both MACD and Awesome Oscillator histograms are trending upward.
Moreover, the RSI has peaked 73 to an overbought condition. Despite this, the upward trend suggests that buyers may remain active in the short term. but, a cooldown period towards 60 via a consolidation in BONK crypto price could also occur before another significant rise.
Bullish Scenario
If the support at $0.000022 holds and trading volumes return, Bonk could make a new push towards the relative highs around $0.000029, potentially yielding gains of 35%.
Bearish Scenario
Conversely, a clear breakdown below $0.0000190 would signal a return to previous trading ranges, increasing the risk of downward pressure towards the May lows and possibly down to the volume cluster at $0.0000158.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Crypto Sensei said that the last three months of the year have often been positive…
BNB has staged a sharp recovery after a volatile week that saw most major cryptocurrencies…
XRP price is currently down and is trading below $2.50. However, XRP faces two main…
The cryptocurrency market has been in turmoil, and XRP has not been spared. After days…
The cryptocurrency market suffered a massive wipeout, erasing nearly $800 billion in value within 24…
As crypto markets gear up for the next bull run, investors are split between nostalgia…
