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BONK Price Analysis

BONK Shows Strength Amid Market Chaos, Eyes Potential Breakout to $0.000016

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  • BONK is up 11% over the past week, showing strength despite market volatility
  • Trading volume nears $100 million as interest in Solana meme coins like BONK and WIF grows
  • Price remains stable around $0.00001207 with accumulation from both whales and smaller holders
  • A breakout above $0.0000125 could open the door to $0.000016, backed by a bullish double bottom pattern

BONK, a meme coin built on the Solana blockchain, is making waves in the crypto space despite broader market volatility. The token has gained nearly 11% in the past week, showcasing its resilience and hinting at the potential for further upside. As the meme coin sector heats up, BONK, alongside other popular Solana-based tokens like WIF, has helped drive trading volumes for the ecosystem beyond $100 million.

Currently trading at $0.00001207, the meme coin saw a 3% gain in the last 24 hours, supported by a 24-hour trading volume of $99.64 million and a market cap of $947.82 million. This performance has kept investor attention firmly on the token as it navigates a key range between its recent lows and highs.

BONK 7D graph coinmarketcap 1
Source: CoinMarketcap

On-chain data shows inflows from both whales and smaller holders (shrimps) into centralized exchanges, yet the price has remained steady. This stability reflects the strength of current support zones and suggests that accumulation is ongoing despite market jitters.

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BONK Targets $0.000016 After Strong Rebound

From a technical standpoint, BONK is showing a double bottom pattern on the weekly chart, often seen as a bullish reversal signal. The token has successfully held its ground around the key $0.0000105 support level, bouncing off this zone twice and staying above it. This critical support must hold, as a break below could invalidate the bullish setup.

Resistance now lies at the descending weekly trendline near $0.0000125. If BONK manages a confirmed breakout above this line, it could spark a strong upward move, with the next major resistance target at $0.000016. A breakout above this level would likely attract more buying interest and confirm a broader trend reversal.

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BONK continues to defy the odds, supported by a solid technical base and growing interest within the Solana meme coin ecosystem. As long as key support levels hold and resistance zones are tested, BONK may be gearing up for an extended rally.

Related Reading | Ethereum Price Faces Downturn, Testing Key $1,550-$1,600 Support

BONK Breaks Out: Memecoin Surges 25%, Eyes Further Upside Move

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  • BONK surges 25% weekly, driven by Bitcoin’s rally and renewed market optimism.
  • A breakout above the descending trendline signals a potential sustained uptrend.
  • Key resistance at $0.0000158–$0.0000225 must be cleared for further gains.
  • Market depth shows only two major sell walls before the next bullish move.

BONK is riding the bullish wave, mirroring the broader crypto market’s resurgence. Over the past week, the popular Solana-based memecoin has surged 25%, fueled by Bitcoin’s rally, which has reignited optimism across the altcoin and memecoin sectors. With Bitcoin reclaiming key levels, traders are increasingly shifting focus toward high-potential assets like BONK, driving its price upward.

At the time of writing, the memecoin is trading at $0.00001410, boasting a 24-hour trading volume of $240.34 million and a market cap of $1.10 billion. In the last 24 hours alone, BONK has gained 13%, reinforcing its strong bullish momentum and hinting at further upside potential.

BONK 1D graph coinmarketcap
BONK Breaks Out: Memecoin Surges 25%, Eyes Further Upside Move 7

BONK Technical Breakout Signals More Upside

From a technical standpoint, the meme coin has broken above its descending trendline, a key indicator of a potential sustained uptrend. However, the next major test lies ahead, as resistance is observed between $0.0000158 and $0.0000225. A decisive breakout above this zone would confirm a local bottom for wave-(iv) and open the door for further gains.

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Market depth analysis reveals that only two major sell walls stand in the way of BONK’s next leg up. Once these barriers are breached, the path becomes clear for a strong bullish run, with little resistance in sight.

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BONK’s breakout from consolidation suggests further upside, with key resistance at $0.0000158. Indicators like the Relative Strength Index (RSI) and MACD support continued bullish momentum.

With market sentiment shifting in favor of bulls, the meme coin is well-positioned for further gains. However, breaking through resistance will be crucial in confirming the next leg of this rally.

The broader market conditions remain a key factor in BONK’s trajectory. As Bitcoin continues to gain strength, altcoins and meme coins are benefiting from renewed investor confidence. If BTC maintains its uptrend, the meme coin could see further upside in the coming weeks.

Related Reading |  Chainlink’s Bullish Outlook: Strong Bounce Could Lead to $40.70

BONK Set to Hit New All-Time High: Analyst Sets Sights on $0.00009930

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Bonk (BONK), the Solana-based meme coin, is making waves in the cryptocurrency sphere as it continues its upward trajectory. Analysts and investors are taking notice of BONK’s recent impressive performance, with its value skyrocketing by nearly 30% in the past week alone. Over the last month, the meme coin has seen an astonishing 62% increase in its value, signaling strong momentum for the token.

The broader crypto market is also witnessing a resurgence, with Solana nearing a significant resistance level. This development has sparked optimism among market participants, particularly for BONK and other meme coins built on the Solana blockchain. While other Solana-based meme coins like WIF and BOME have struggled to keep pace, BONK stands out as a frontrunner, leading the charge in the ongoing crypto rally.

Despite experiencing a minor 1.13% decrease in the last 24 hours, the price of the meme coin stands at $0.00003282. It has a robust 24-hour trading volume of $452.89 million and a market capitalization of $2.20 billion. With bullish sentiment surrounding BONK and its potential for further growth, many eyes are on this Solana-based meme coin as it continues to capture the imagination of the crypto community.

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BONK Set to Hit New All-Time High: Analyst Sets Sights on $0.00009930 10

BONK Predicted To Hit New ATH $0.00009930

Crypto analyst Alex Clay has identified significant potential for BONK based on technical analysis, indicating a completed Cup & Handle formation on the weekly timeframe after 161 days of accumulation. Clay anticipates a breakout, setting ambitious price targets for the meme coin.

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According to Clay’s analysis, the Cup’s Handle Target is set at $0.00006150, with an Ultimate Price Target of $0.00009930. Despite the current price of Bonk standing at $0.00003282, which is 27.93% lower than the all-time high of $0.00004547 recorded on March 4, 2024, Clay remains optimistic about the coin’s future performance.

However, can this meme coin keep up this impressive momentum and challenge previous ATHs that may even lead to a new ATH of $0.00009930? Although this is still uncertain given the ongoing craze about meme coins in crypto market but there are possibilities that we will see prices rising towards ATH.

Related Reading | Bitcoin Poised for Potential Breakout: Will $71,500 Mark the Turning Point? Analysts Weigh In