BONK Surged Over 15%: Will It Cross Its ATH Mark Of $0.00004640

Bonk ($BONK), the Solana-based meme coin, experienced a significant surge amid the market resurgence. It noted an impressive spike of over 40% this week.

It has rebounded from its 200-day EMA mark and directed a golden crossover on the daily chart. Fueled by the significant demand surge in most memecoins, $BONK price was among the front runners. It soared more than 50% in the last two weeks.

It formed an ascending triangle formation and traded above the key moving averages. Despite the recent bearish moves in the crypto market last month, $BONK decisively held the gains and remained in the positive region.

With the change in the dynamics, the bulls continued accumulating the coin. Bulls were eyeing to retest its all-time high ($ATH) mark of $0.00004640.

At press time, the $BONK was trading at $0.00003140 with an intraday surge of 15.26%, reflecting neutrality on the charts. It has a monthly return ratio of 47.30% and 59.30% yearly, reflecting a long-term uptrend.

The pair of $BONK/$BTC was at 0.000000000471 $BTC, and the market cap was $1.30 Billion. Analysts were neutral and suggested that the $BONK price may soon reach its $ATH mark.

$BONK Revealed Spike in Buying Pressure

The $BONK has recently regained momentum and delivered follow-on gains, surging over 40% this week. Fueled by the demand surge, the buying pressure was intact and remained high.

Its trading volume soared over 92% to $483.90 Million in the last 24 hours, signifying the consistent buyer accumulation.

The Relative Strength Index (RSI) curve soared to the overbought zone, near 65 signifies a bullish overview. The rising RSI curve showed that the buying pressure was intact and the memecoin would continue to gain traction. Additionally, it would spread the rally ahead.

@Coinguru, in his X post, said that the technicals of $BONK conveyed a bullish stance. It is set to revisit its $ATH mark shortly.

Notably, it climbed above the significant EMAs and was set to drive the bullish wave ahead. Once it crosses its cluster of $0.00003700, a rally toward $0.00004000, followed by $0.000043000, can be seen ahead.

Weighted Sentiment and Social Dominance Data Stayed Flat

Amidst the significant price rise, the social dominance data stayed flat and signified a slight increase of over 2% in the last 24 hours. It revealed neutral online discussions among the investors on social media platforms.

Similarly, the weighted sentiment data stayed in the negative territory around -0.503, signifying neutral sentiment among the investors.

Futures Data Displayed Long Buildup Activity

Fueled by the volume-based buying, the investors made a fresh long buildup in the overnight session. Also, the open interest value soared by over 57.265% to $13.04 Million.

$BONK">

OI Data Chart | Source: Coinglass

When writing, the immediate support levels for the $BONK price were $0.00003000 and $0.00002700. In contrast, the key upside hurdles were around $0.00003800 and $0.00004000.