thenewscrypto.com
- Amidst a market reversal, the $BONK token leads a 15% jump in the last 24 hours.
- The global crypto market rebounded slightly after a slump, fueled by a 3.50% rise in Bitcoin’s price.
The global cryptocurrency market has significantly reversed, particularly in the meme coin realm. Following a huge decline in Bitcoin, it experienced a notable upswing, marking a 6.25% jump from its recent slump at $56,000. This momentum persisted, leading to a 3.50% intraday surge to $59,412.
What’s especially interesting is how this recovery impacting meme coins, fueling a widespread comeback. Among the notable players in this resurgence are DOGE, PEPE, and SHIB, which have found solid ground to pivot. However, the $BONK turns into a trendier coin, truly steals the spotlight, and emerges as a frontrunner in the recent bull run.
$BONK Tops the Gainers List
Recently, the $BONK token caught under the grip of selling pressure. After weeks of enduring lower lows, the token recently found support around $0.00002314 and swiftly bounced back. This pivotal momentum was highlighted by the breach of the 100-day EMA mark, resulting in an impressive 92% rally since the start of the year.
According to the daily price chart, the $BONK token seems to sustaining its bullish reversal momentum, hinting at a potential bull run soon. Technical analysis reveals a bullish flag pattern breakout in the 4-hour chart, further bolstering confidence in the upward trajectory.
Moreover, the recent golden crossover in the 24-hour chart adds weight to the possibility of an uptrend gaining momentum. Following an intraday gain of 16.14%, the $BONK token price reflects strong buyer accumulation.
At the time of writing, the Bonk token ($BONK) is trading at $0.00002591, showcasing resilience amidst market fluctuations. While its monthly return ratio sits at -3.20%, the token boasts a solid 27.90% yearly return, signaling the potential for further growth in the coming months.