The memecoin market is currently experiencing a strong bullish reversal, with Bitcoin price holding steady above the $100k mark. Top meme coins like DOGE and SHIB are seeing stable growth, but one memecoin that is standing out is Bonk. This Solana-based crypto has recorded double-digit growth, sparking speculation about its potential to outrun Dogecoin during the upcoming altcoin season.
Bonk memecoin has retested its important resistance level, jumping 11.83% in the last 24 hours with a trading volume of $602.84 million. This represents a significant change of +171.82%. The memecoin has also seen a weekly surge of around 16%, reclaiming the $0.000030 mark. With a market capitalization of $2.467 billion, Bonk has secured the 51st position in the global crypto market list.
Technical analysis of Bonk memecoin shows promising signs. The Moving Average Convergence Divergence (MACD) is displaying a constant rise in the green histogram, indicating a bullish convergence in the daily time frame. Additionally, the Simple Moving Average (SMA) indicator is supporting the Bonk price chart in the 1D time frame, suggesting that the memecoin could continue gaining value in the coming week.
Looking ahead, if the bullish sentiment continues, Bonk coin price could reclaim its resistance level of $0.00003390 and potentially head towards its upper resistance level of $0.00004050 this month. On the other hand, a bearish reversal could pull the price towards its support level of $0.000030 and even lower to $0.0000270 if the bearish sentiment intensifies.
For those wondering about the long-term prospects of Bonk memecoin, CoinPedia’s Bonk Price Prediction offers insights into possible price movements until 2030.
In terms of frequently asked questions, it is highly unlikely for Bonk coin to reach $1, as it would require a market cap of $92.7 trillion. The price prediction for Bonk in 2025 suggests a maximum trading value of $0.000063. Currently, one BONK token is worth $0.00003219.
Overall, the future looks bright for Bonk memecoin as it continues to show positive growth and potential for further gains in the volatile memecoin market.