BONK : The New Memecoin Star
This remarkable surge in BONK price has likely been fueled by a recent shift in overall market sentiment. We’re also seeing a breakthrough above the bearish trendline and, most importantly, the explosive growth of the Bonk.fun platform. Over the past week, it generated $7.93 million in just seven days, with daily fees reaching $1.27 million on July 11.
Currently, BONK is trading at around $0.00002508, with an increase of over 13% in 24 hours and a 160% jump in trading volume. This momentum surge has even outperformed major cryptocurrencies like Bitcoin and Dogecoin. This dynamic has brought BONK back to a familiar resistance level at $0.00002626. This is a key threshold that has previously triggered trend reversals.
Indicators Confirm Rally Strength
At the time of writing, BONK is trading above the 200-day exponential moving average, signaling a bullish trend. Its Relative Strength Index (RSI) sits at 70, in overbought territory, which could lead to a short-term correction if buying momentum weakens.
Despite this obvious overbought condition, long-term investors and holders appear to be still accumulating the memecoin. Exchanges have recorded an outflow of more than $1.88 million in this asset. This indicates strong buying pressure from long-term investors, a bullish sign for holders of this crypto.
Can It Shatter Its April ATH ?
BONK’s 70% bullish momentum echoes the surge in fees and token buybacks from Bonk.fun. Can long-term investor conviction and exchange outflows push this Solana meme token beyond its April ceiling ?
You can also accumulate BONK with competitive fees on Bitmart exchange right now :
- Sign up on BitMart : Create an account on the official BitMart website with an email address and secure password. Complete identity verification (KYC) to unlock all features.
- Deposit funds : Log in, access the “Deposit” section and select a currency (USDT, BTC or fiat, if available). Transfer your funds from a wallet or bank account.
- Buy BONK : Go to the “Markets” or “Exchange” section, search for the BONK/USDT pair. Enter the desired amount, choose a market or limit order, then confirm the purchase.
