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Despite recent market turbulence, meme coins on the Solana network defy the trend, showing resilience and significant gains. Bonk (BONK) stands out with a remarkable 130% surge in 12 days, while PEPE lags with 109.8% gains.
This surge reflects investor sentiment shifting towards higher-risk assets, especially as the Bitcoin craze fades and the market becomes more favorable for meme coins. Bonk’s performance surpasses meme coins like Dogwifhat (WIF) and Shiba Inu (SHIB), indicating growing investor confidence in the meme coin sector.
So what next for BONK, Let’s dive in.
is the BONK Price in a buying zone?
Despite its rapid surge, technical analysis indicates that BONK still has room for further growth, particularly if leading cryptocurrencies like Bitcoin and Ethereum regain momentum. The Bollinger band analysis suggests that BONK is approaching a crucial resistance level at $0.0000028, and a breakthrough could propel its price to new highs above $0.000030.
However, there are potential downfalls. BONK could face a reversal if BTC and ETH continue to struggle, leading to a pullback towards key support levels. Investors should closely monitor these levels, particularly at $0.0000216 and the $0.0000152 to $0.0000186 range, as they could present buying opportunities in case of a dip.
Despite these risks, BONK’s strong social dominance and robust trading volume indicate sustained interest from investors. This suggests that BONK may continue to attract attention, especially if market conditions improve.
While BONK has shown significant upside potential in recent weeks, investors should remain cautious and stay informed about market dynamics. By staying vigilant and managing risks effectively, investors can capitalize on potential opportunities while navigating the cryptocurrency market’s volatility.
What to expect from BONK Price?
Memecoins are playing smart and most Solana-based coins are getting investor attention all due to the low risk and quick profit. Interestingly, BONK’s price is showing potential for gains. But you need to look for an opportunity to buy if it dips to around $0.0000216 or between $0.0000152 and $0.0000186. If it breaks above $0.0000245, it could keep going up, possibly reaching $0.0000299, then even higher to $0.0000342 and $0.0000373.
Investors who are still interested in BONK need to be careful if it doesn’t attract buyers around $0.0000152 to $0.0000186, as this could indicate a weak market. Keep an eye on these levels to make smart investment choices.