One of the significant uncertainties in the realm of cryptocurrencies, meme coins, have experienced notable growth since mid-2023. This surge in value has brought substantial profits to some investors while causing losses to others. A cryptocurrency analyst disclosed an impressive increase of over 12,000%, capturing considerable attention.

Analyst's Insights on BONK Coin

A reputable cryptocurrency specialist, CoinsKid, announced on June 10th that BONK coin had achieved a remarkable gain of more than 12,000% since its inception in 2023. Furthermore, the analyst highlighted two additional instances in 2023 where recommendations were made regarding BONK coin. An entry at the green line was suggested if a breakout occurred within the "rising wedge" chart pattern.

Bonk Coin Price Evaluation

Due to the actions of CoinsKid, the value of Bonk meme coin soared to $0.0000280174. Initially, the meme coin experienced a significant surge of 12,674.82%. However, it later faced a minor decline of 1.81%, settling at $0.00002751.

Moreover, the daily price decline for Bonk was 1.56%, leading to a weekly decrease of 20.23%. These trends indicate the analyst's readiness to explore new investment positions.

Conversely, BONK has managed to remain above the 100-day exponential moving average (EMA), with a projected price target set at $0.00004.

Presently, BONK's market capitalization has dwindled to $1.850 billion, marking a decrease of around 4.18%. Simultaneously, the 24-hour trading volume has surged to $277 million, signaling a 10% augmentation.

The rise in trading volume amid price reductions has sparked rumors of short selling. Having been part of the Solana buzz last year, this meme coin is now under speculation regarding its future prospects in a potential bull market.