BONK surges 8%, eyes December high: check forecast
Main Idea
BONK's price surged 8% recently, driven by LetsBonk becoming Solana's leading meme token launchpad, and it may target the $0.000049 resistance level.
Key Points
1. BONK is up 8% in the last 24 hours and 15% over the past week, outperforming the broader crypto market.
2. LetsBonk now accounts for 64% of Solana meme token launches, surpassing Pump.fun in market share and trading volume.
3. BONK's bullish trend is supported by technical indicators like RSI and MACD, suggesting potential further gains.
4. If the bullish trend continues, BONK could rally towards the $0.000049 resistance level and possibly its all-time high of $0.00005916.
5. A broader market correction could lead BONK to retest support levels, potentially dropping below $0.0000020.
Description
Memecoins have been leading the charge over the past few days, with Dogecoin, Shiba Inu, and Floki all recording decent gains. Pudgy Penguin (PENGU) is heading to a new all-time high while BONK is up 15% in the last seven days. They have outperformed the broader market, with Bitcoin trading around $118k while Ether struggles to overcome the $4k barrier. Memecoins have also outperformed other narratives in the market, including DeFi, RWAs, payment tokens, and exchange tokens. LetsBonk now account...
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