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BONK Price Up By 20%; Will This Memecoin Hit ATH?




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BONK is trading above the key moving averages, showcasing bullishness.


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The meme coin is surged with a 20% return in a single week.














BONK is a perfect example of why the spot is king during a bull market with a 75% drawdown twice and now it’s nearly trading at a new ATH. If buyers continue to support the Bonk it could smash its all-time high in upcoming sessions.



BONK cryptocurrency price is showing a strong upward trend and has consistently displayed positive movements in recent trading sessions. Additionally, the token continues to maintain its gains above important moving averages and shows resilience in extending these gains.



Decoding the Technical Chart of Bonk Coin



BONK is trading in a solid uptrend. The price has advanced by 57% in just the last 30 days.









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In April 2024, the trading price of BONK broke out of a declining pattern, leading to a strong surge in the crypto’s price and a shift to a bullish trend. Analysts are optimistic and predict that BONK will reach higher levels in the upcoming sessions.



Moreover, the daily chart shows the price trading above the 50-day EMA, indicating strength. The MACD also gives a strong buy signal with both the MACD and the signal line moving in a bullish trajectory and forming a golden cross.



Additionally, BONK broke above the upper Bollinger Band, signaling increased momentum. The RSI is currently at 74.9, indicating strong momentum in the crypto’s trading price, having broken above the 14-day SMA and sustained above it.



At the time of writing, the BONK cryptocurrency (BONK) was being traded at $0.00003993, experiencing a 2.56% intraday decrease, which still indicates an optimistic outlook on the charts. It has delivered a 57% return over the past month and a remarkable 200% return over the past year, and its market capitalization stands at $2.69 Million.



BONK Crypto Price VS Volume Analysis



The price and volume chart reveals that the trading volume has surged in the last few weeks, accompanied by a corresponding increase in price.







Analysis of social dominance and social volume indicates a consistent increase over the past few months, which has had a positive impact on the price. Moreover, the momentum of the BONK price may be influenced by changes in social dominance and volume dominance.



The BONK Crypto price is expected to find support at $0.00002960 and $0.00002737, potentially triggering a rebound or stabilization. Conversely, the price may encounter resistance at $0.00004456 and $0.00004746, possibly resulting in a reversal or consolidation.



Summary



BONK is in the bullish zone trading above the key moving averages indicators including EMAs, MACD, and RSI showcasing bullishness in the crypto.
Andrew Smith Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages ​​and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.

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