The cryptocurrency market is showing signs of renewed energy, and memecoins like Bonk (BONK) are riding the wave. Following Bitcoin’s recent surge to $66,479, BONK has posted impressive gains, fueling excitement among traders and meme-coin enthusiasts.
BONK Gains Momentum With A 33% Monthly Surge
As of this writing, BONK is trading at $0.00002287, marking a 4.61% increase over the past 24 hours. On the weekly and monthly charts, the memecoin has performed even better, climbing 33.2% over the past month.
BONK’s bullish momentum appears solid, supported by positive market sentiment. According to AMBCrypto, its Market Prophit Sentiment Score stands at 0.0721, and it boasts a Buzz Score of 1.0553, reflecting growing market interest.
A major factor driving BONK’s current rally is its ability to flip the 200-day Exponential Moving Average (EMA)—a key indicator of bullish momentum. This flip signals that buyers are gaining control, reinforced by an 82.58% increase in trading volume to $251.76 million.
Meanwhile, BONK’s market cap has grown by 8.49%, now standing at $1.69 billion. These indicators suggest strong buying pressure, with bulls eyeing higher levels in the near future.
Support, Resistance Levels, and What’s Next
The memecoin has found strong support at $0.00002086, making a dip below this level unlikely for now. As long as BONK stays above this support, further gains seem plausible. If momentum persists, the next resistance level at $0.00002500 could be tested. A successful breakout here would likely push BONK to $0.00003003.
However, traders should watch for fluctuations. BONK’s spot netflow over the past week has remained negative at -$914.06K, indicating more coins are being withdrawn from exchanges than deposited. This withdrawal trend may signal that some investors are booking profits after recent gains.
Also Read: BonkBot Shifts To Non-Custodial Model – 2.16% BONK Drop Amid Security Overhaul
Can BONK Maintain Its Uptrend?
With a rising market cap, strong trading volume, and favorable sentiment, BONK seems poised for further upside. If Bitcoin’s bullish trend continues, memecoins like BONK could benefit from additional momentum, pushing the token to new highs.
Keep an eye on the $0.00002500 resistance level—a breakout could set the stage for BONK to surge past $0.00003003 and solidify its position in the meme-coin spotlight.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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