BONK’s price has surged by over 17%, currently trading at $0.00002219, with a 228% increase in trading volume in the last 24 hours. Donald Trump’s victory in the U.S. election has impacted the broader cryptocurrency market, driving Bitcoin up more than 10% to a record high of $75K. Major assets have reached new peaks, and meme coins have shown strong gains, with many posting double-digit increases.
The Solana-based meme coin, BONK, saw a 17% rise in the past 24 hours, hitting a low of $0.00001845 and a high of $0.00002287. As of now, BONK trades at $0.00002219 with a market cap of $1.66 billion and a daily trading volume of $391 million, per CoinMarketCap data.
BONK’s price trajectory over the past week shows a 4.70% increase, though it struggled to maintain momentum, dropping from $0.00002170 to $0.00001723.
Analysts suggest BONK is nearing the low of its wave 2. For a bullish trend, it must break past $0.0000262, with wave 3 potentially reaching $0.0000899 if upward momentum continues.
What’s Next for BONK Price?
BONK is currently in the overbought zone, with its daily RSI at 74.47. The four-hour chart shows a short-term 9-day moving average crossing above the long-term 21-day moving average, indicating a potential ongoing upward correction. If bullish momentum continues, BONK could test resistance at $0.00002372, potentially reaching higher targets.
If BONK fails to hold its upward momentum, it could slip back to its support level at $0.00002105, with a steady decline possible if downward pressure persists.
Additionally, the MACD indicator sits above the signal line, suggesting ongoing upward momentum and a potential bull run.
Meanwhile, the Chaikin Money Flow (CMF) stands at 0.18, reflecting increased money flow, as BONK’s trading volume has risen by over 228%.
