Bonk meme coin has just broken through a key level, marking a shift in momentum that traders have been waiting for. This shift has sparked new optimism about the token’s potential to double in value. After weeks of continuous pressure, Bonk’s price behavior suddenly hints at a probable strong rally, attracting the interest of both investors and analysts alike.
Bonk’s breakout from the descending trendline implies a strong bullish change. With the price surpassing key resistance near $0.000020, the token is positioned for a potential 2x gain. If momentum holds, Bonk price might reach $0.000042 in the next few days, doubling its present value.
BONK Price Performance
Bonk’s price surged to roughly $0.000021 today, up over 63% in the last 7 days. Trading volume has also surpassed $490 million, indicating increased market activity. The token’s market cap is currently at $1.57 billion, suggesting increased investor confidence.
Meanwhile, $BONK has already broken out and is consolidating above key levels. The circulating supply stands at roughly 78.8 trillion tokens. Trading activity remained solid across major platforms, sustaining current price stability. After holding stable near $0.000012 a few days ago, Bonk is currently challenging major resistance around $0.000024.
Technical Outlook
Bonk’s latest breakout is reinforced by strong trading volume and positive indicators. The Relative Strength Index (RSI) currently sits above 69, which is slightly below overbought levels. This signals solid buying activity without exhaustion.
Meanwhile, the 50-day moving average at $0.0000121 supports the current uptrend, with the price safely above this level. Bollinger bands indicate consistent volatility, with the upper band, near $0.000024, acting as immediate resistance.
The coin has flipped resistance zones into support, confirming its bullish outlook. However, overhead resistance at $0.000025 may prompt a short-term pullback before further increases. If Bonk remains above this level, the next target is near its November 2024 high of $0.000059.
While Bonk’s price is expected to double, some traders anticipate even greater gains. CryptoElites on X predicts a 50% surge, which should see Bonk to $0.00068. Though this forecast may seem bold, such moves are plausible in a market where coins can surge 100% in a week. This reflects growing trust and the volatile nature of meme coins, such as Bonk.
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