BONK Jumps Over 15% as Memecoin Momentum Boosts Broader Crypto Market
Recent market movements show BONK surging as optimism grows in the altcoin sector, with strong gains leading to a potential breakout.
What You Need to Know:
- BONK gained over 15% in 24 hours, breaching key resistance zones on strong volume.
- The meme coin is participating in a broader rally among altcoins as market sentiment shifts toward riskier assets.
- The total trading volume reached 134 billion tokens, with support rising to $0.00003295.
BONK saw an impressive surge of 18.2% over the last day, settling at $0.00003343, its highest price in several months.
This uptrend comes as market enthusiasm revives, particularly within the altcoin space, leading to an increase in overall market capitalization driven by rising open interest and favorable technical indicators.
From July 15 at 11:00 UTC until July 16 at 10:00 UTC, BONK appreciated 15.08%, moving from $0.00002824 to $0.00003253 with a peak at $0.00003309. The Solana-based memecoin recorded a series of higher highs and lows, breaking through resistance levels at $0.000030000 and $0.000032000 as traders shifted towards high-volatility assets.
This rally coincided with BONK’s inclusion on Grayscale’s institutional surveillance list, marking a significant milestone that enhances the memecoin’s legitimacy among wider market players.
Technically, despite fluctuations, BONK’s momentum remained robust. In the last hour of trading, it retraced to $0.00003225 before rebounding sharply, achieving a value increase to $0.000033034.
With a recovering sentiment in the altcoin market and BONK demonstrating both trading volume and price leadership, the token seems prepared to challenge the $0.000035000 resistance, which could pave the way for further price increases if the current upward trend continues.
Technical Analysis Highlights
- BONK gained 15.08% in 24 hours, moving from $0.00002824 to $0.00003253.
- Full trading range spanned 18.93%, with a top of $0.00003309.
- Resistance levels at $0.000030000 and $0.000032000 were decisively surpassed.
- Current resistance sits at $0.000033000, while the next target is $0.000035000.
- Strong support at $0.000028500 and recently at $0.000032950.
- Volume surged to over 134B tokens during the final hour of trading and breakout, with BONK rebounding 2.4% from its intraday low of $0.00003225.
- Present price stands at $0.00003343, leading in daily gains among Solana ecosystem tokens.
