In the past day, the memecoin Bonk has shown significant growth, surpassing Trump in market capitalization. This event has garnered the attention of traders and the community.
Bonk’s Trading Volume Skyrockets
Bonk’s trading volume has jumped from $122 million to $1.4 billion within a few days. This indicates that traders are actively investing in Bonk amid the rising popularity of memecoins. Bonk recently broke a long-term downtrend line established since November and continues to test resistance around $0.00002400. If it breaks through, Bonk could swiftly surge towards $0.000040.
Community Strength Fuels Bonk’s Surge
Bonk’s community is actively driving its growth, managing over 54% of the memecoin’s market activity through the bonk.fun platform. Users are engaging in art campaigns, NFT drops, and meme contests, keeping new investors interested. Community members are also proposing institutional products, such as a 2x leveraged ETF from Tuttle Capital.
Technicals Support Bonk’s Upward Momentum
Bonk’s technical signals align with its positive momentum. The memecoin has been rising for six consecutive days, breaking out of its downward price channel. The Relative Strength Index indicates that Bonk is in overbought territory, confirming the current bullish trend. The tight trading range between $0.000022848 and $0.000023033 also signals strong consolidation before the next upward movement.
Bonk’s rise in the memecoin battle demonstrates its strong market position. With an engaged community, high volumes, and positive technical indicators, Bonk continues to attract the attention of traders and observers, while Trump attempts to reclaim its lost ground.
