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The Bonk price soared by 12% over the last 24 hours to trade at $0.0000278 as of 6:00 a.m. EST.
The surge came as TraderKoz on X called May 18 ”$BONK liberation day,” with the end of ”vesting contracts that were unlocking every weekend.”
“Millions of dollars in weekly sell pressure are gone,” TraderKoz added.
Yesterday was $BONK liberation day (the end of vesting contracts that were unlocking every weekend) and the chart is already curling up.
One of the biggest gainers on the day and a big weekend for the doggo. Millions of dollars in weekly sell pressure are gone.
Higher! pic.twitter.com/H2jt7FAvbG
— TraderKoz (@TraderKoz) May 18, 2024
Big Dick Bull (BDB) on X says he had preferred WIF because “$6 million in Bonk tokens were unlocking EVERY weekend. This weekend is the last unlock of these and that ridiculous sell pressure will be gone forever.”
BDB is now more bullish on BONK because ”I simply think BONK is the better bet.”
Bonk Price Outlook: Will the Meme Coin Keep Pumping?
Analysing Bonk price charts, we see the cryptocurrency encountering a significant resistance level at $0.00002773. This resistance zone, highlighted in red, has been tested multiple times but has yet to be decisively broken.
The Bonk price exceeds this critical level, indicating potential hesitation or consolidation. Should bulls push past the resistance, we could see a pump to previous highs. Conversely, a failed attempt could lead to further declines.
On the other hand, the Woodies CCI (Commodity Channel Index) presents an overbought condition with readings around 133.76. This suggests that the recent price surge might face a short-term pullback as traders start to take profits. However, the CCI also shows a possible uptrend continuation if resistance is breached.
The ADX (Average Directional Index) stands at 37.56, supporting the bullish momentum and indicating a strong trend. A high ADX value above 25 usually signifies that the current trend, in this case upward, is gaining strength. This aligns with the recent Bonk price action, where BONK has seen a significant rise, approaching the resistance level with notable momentum.
4-hour BONK/USDT Chart | Source: TradingView
A Promising Alternative
As the Bonk price pumps, new Solana meme coin Sealana ($SEAL) has raised almost $1.8 million in its presale.
According to YouTuber and crypto analyst Jacob Bury, it has the potential to explode 10x after launch.
Sealana is a character modeled after Gamer Guy from South Park. He is a metaphor for the sloth that exists inside every one of us, a cyber warrior who eats chips while daydreaming about being wealthy.
Sealana And Solana
Meme coin projects are increasingly turning to Solana as their preferred blockchain. The ecosystem behind the SOL meme coin is formidable, with almost $4 billion in locked-in value and more than 1.15 million daily users.
A recent surge of well-known meme coins, such as DogWifHat ($WIF), Bonk ($BONK), Book of Meme ($BOME), and Popcat ($POPCAT), has shown the platform’s potential.
SEAL now aims to become the next big SOL meme coin sensation. Based on the trajectory of its presale, it seems like its dream could come true.
#Sealana, making #Memecoins great again! 🇺🇸
Manifesto
1⃣ No Frogs 🐸
2⃣ Less Hats 🧢
3⃣ Many Whales 🐳
4⃣ Zero Rugs 📉
5⃣ More $SEAL 🦭 pic.twitter.com/FEImgpWxWz— Sealana (@Sealana_Token) May 7, 2024
The SEAL presale doesn’t have a hard cap, stages, or even a white paper, which means it could end at any time. So, if you are interested, buy soon to avoid missing out..
To buy SEAL tokens, head over the official website here. Tokens will be airdropped to buyers a the end of the presale.
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