Solana-Based Bonk Outshines DOGE and SHIB! How High Can It Go?
The memecoin market experienced a strong bullish reversal as Bitcoin price managed to keep its value above the $100,000 mark today. While top memecoins such as DOGE price and SHIB price have seen steady price growth, the Bonk memecoin has recorded double-digit growth.
Considering the current market sentiment, will the price of this Solana-based cryptocurrency surpass Dogecoin in the upcoming altcoin season? CoinPedia’s expert panel reveals possible short-term market sentiment, price analysis, and possible price targets for the Bonk (BONK) memecoin.
Bonk Memecoin Retests Its Important Resistance Level!
Bonk price increased by 11.83% in 24 hours, with a trading volume of $602.84 million, a change of +171.82%. Furthermore, the memecoin has surged around 16% on a weekly basis and has managed to regain the $0.000030 mark, highlighting the increase in positive influence.
Additionally, this altcoin has surged around 7% over the past 30 days, with a year-to-date (YTD) return of 5.66%. The BONK meme coin ranks 51st in the global cryptocurrency market with a market capitalization of US$2.467 billion.
Bunker Technology Sentiment
The Moving Average Convergence Divergence (MACD) is showing a continued rise on the green histogram, with its average recording a bullish convergence on the daily time frame. This points to a positive outlook for the third largest meme coin on the market.
On the other hand, the SMA indicator continues to support the Bonk price chart on the one-dimensional time frame. This suggests that the meme coin may continue to increase in value in the coming week.
Will BONK price reach $0.000050 this month?
If the bullish sentiment persists, Bonk coin price will regain the $0.00003390 resistance level. Sustaining the price at this level could set the stage for it to head towards the upper resistance at $0.00004050 this month.
Conversely, a bearish reversal may pull the price towards the $0.000030 support. Furthermore, if the bearish sentiment intensifies at this time, its price may drop towards the lows of $0.0000270.
Wondering about the long-term price outlook for this meme coin? Read CoinPedia’s bond price forecast Until 2030, possible mysteries are revealed!
FAQ
For the Bonk memecoin to reach the $1 mark, its market cap must increase to $92.7 trillion. Therefore, it is highly unlikely that this memecoin project will achieve this price target.
As adoption increases and bullish sentiment rises, the price could reach a maximum trading value of $0.000063 this year.
As of this writing, one BONK token is worth $0.00003219.
