Join Our Telegram channel to stay up to date on breaking news coverage
The Bonk price soared 12% in the last 24 hours to trade at $0.00002049 as of 4:55 a.m. EST on a 31.1% surge in daily trading volume to $408 million.
This rally, likely fueled by renewed interest in meme coins and Solana’s ecosystem amid the relief rally sweeping across the crypto market, has analysts buzzing about BONK’s short- and long-term potential.
Following the surge in the BONK price, it became the 53rd largest crypto with a market capitalization of $1.63 billion.
But where is it headed next?
Bonk Price Surges 12% Amid Bullish Momentum
The BONK price surged 65% in the past week and is now approaching a key resistance level around $0.00002157, which coincides with the 50-day Simple Moving Average (SMA).
The BONK/USDT chart reveals a bullish breakout from a double bottom pattern, a formation often signaling a bullish trend reversal. The price has touched the 50-day SMA, confirming short-term bullish momentum.
Meanwhile, the Relative Strength Index (RSI) sits at 62.07, indicating neutral-to-bullish conditions, though nearing overbought territory. Key support holds at the neckline near $0.00001397, while a lower support holds at $0.00000967. A sustained break above this resistance could target $0.00003717, a 74% increase from here.
Analysts remain optimistic that a break above $0.00003717 may result in the Bonk price soaring to $000005291, a 150% increase from the current BONK price.
BONK/USDT Chart Analysis (Tradingview)
The moving average convergence/divergence (MACD) indicator is also showing bullish momentum as both the signal and MACD lines are surging upward. Current volume trends from Coingecko suggest the uptrend is strong, and chances are high that bulls may pull through the overhead resistance.
But if the bears come out to play, support around $0.00001396 might get tested again, a 34% drop from the current price. Either way, BONK’s got that big meme energy, and the community remains optimistic.
As Bonk surges, YouTube channel 99Bitcoins, with more than 725k subscribers, says the Solana Layer-2 presale Solaxy (SOLX) may surge 100x after launch.
Solaxy Presale Soars Past $32M
With over $32 million raised in its presale, Solaxy is capturing the attention of investors and analysts alike, positioning itself as a potential game-changer in the Solana ecosystem.
Solaxy focuses on Solana’s pain points, which include network slowdowns and failed transactions during peak usage. The presale will do that by handling transactions off-the main chain and bundling them for final verification on the mainnet.
This style mirrors Ethereum Layer-2 (L2) solutions like Arbitrum, enhancing transaction speeds and slashing fees while boosting Solana’s core efficiency.
🚨 Solaxy is now live in Upcoming Tokens! 🚨@SOLAXYTOKEN gives holders an opportunity to join the first-ever Solana Layer 2 blockchain.
Solaxy is set to enhance blockchain innovation through limiting congestion, reducing failed transactions, and improving scalability on SOL.… pic.twitter.com/satNF6zFNF
— Best Wallet (@BestWalletHQ) December 17, 2024
Beyond scalability, Solaxy introduces cross-chain functionality, bridging Solana with Ethereum. This combine the latter’s liquidity and DeFi ecosystem with Solana’s high-speed infrastructure.
This interoperability makes Solaxy a compelling platform for developers building decentralized applications (dApps) and launching tokens without straining Solana’s Layer-1 capabilities.
The project sweetens the deal with a staking program yielding an impressive 125% annual percentage yield (APY) for early adopters seeking passive income.
Priced at $0.001708, purchases can be made with BNB, ETH, USDT, or bank cards, with Best Wallet recommended for a seamless experience.
Interested investors should be before a price hike in a little more than 1 day.
Visit Solaxy website to learn more.
Related Articles
- SEC Approves Three ProShares XRP ETFs, Sending Ripple Token Soaring 8%
- Ethereum Price Prediction: Grayscale Pushes SEC On Ethereum ETF Staking
- Nike Sued For Closing Its NFT Platform RTFKT
Best Wallet - Diversify Your Crypto Portfolio
- Easy to Use, Feature-Driven Crypto Wallet
- Get Early Access to Upcoming Token ICOs
- Multi-Chain, Multi-Wallet, Non-Custodial
- Now On App Store, Google Play
- Stake To Earn Native Token $BEST
- 250,000+ Monthly Active Users
Join Our Telegram channel to stay up to date on breaking news coverage
