Key Takeaways:
- BONK surged over 10% and is now hovering near the $0.000018 support zone.
- Trading volume rose by over 30%, suggesting increasing interest from traders.
- A planned 1 trillion token burn could act as a bullish catalyst if triggered soon.
Solana-based meme coin BONK is making headlines once again after posting a sharp 10% surge in the past 24 hours. The price briefly touched $0.00001876 before experiencing a slight pullback, but the momentum has many traders and analysts paying close attention.
BONK Breaks Downtrend as Trading Volume Jumps 30%
The recent surge in BONK’s price coincides with a significant uptick in trading volume. According to CoinMarketCap data, BONK’s 24-hour volume climbed over 30%, signaling renewed market interest. The coin appears to have broken out of a prolonged downtrend, a move that often precedes sustained upward momentum in the crypto space.
Traders are now watching the $0.000018 level closely. If BONK maintains support above this threshold, analysts suggest a short-term rally toward $0.00002 could be in play.
BONK Burn Trigger Could Ignite Further Gains
Beyond price action and hype, BONK also has a potential catalyst looming. The project’s development team previously committed to burning 1 trillion BONK tokens once the holder count reaches one million. Although that milestone hasn’t been hit yet, it’s reportedly getting close.
A massive token burn would reduce circulating supply, a move that historically has bullish implications for price—especially in the meme coin sector, where supply manipulation often fuels parabolic moves.
A Wake-Up Call for Solana?
BONK’s resurgence could also serve as a bullish signal for the broader Solana ecosystem. As one of the most visible meme tokens on Solana, BONK’s rising price and volume may help reignite interest in other Solana-based assets, particularly after a period of relative dormancy in the altcoin market.
Also Read: BONK Price Jumps 100% in Spot Inflows as Tuttle Capital Files for 2x Leveraged ETF
Some traders even suggest that BONK’s movement is a “wake-up call” for Solana itself, possibly marking the beginning of a renewed bullish cycle for the ecosystem.
With bullish technical signs, increasing volume, and a highly anticipated token burn approaching, BONK is once again drawing attention. Whether it can push through resistance and hit $0.00002 remains to be seen, but for now, it has reignited meme coin excitement on Solana.
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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