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The Bonk price surged 9% in the last 24 hours to trade at $0.000024426 as of 7:30 a.m. EST on a 12% surge in daily trading volume to $692 million.
BONK has seen a sharp recent revival, surging over 52% in the last month. This comes amid renewed enthusiasm for meme coins, with the sector surging 7% in the last 24 hours to reach an $82 billion market capitalization, according to CoinGecko data.
Bonk Price Eyes 120% Extended Gains After 9% Jump In A Day
The daily chart for BONK/USD shows some interesting technicals. The BONK price just broke above the 200-day Simple Moving Average (SMA) at $0.00002393, which is a bullish signal.
The 50-day SMA at $0.00001675 is also trending up, showing short-term momentum. BONK is currently sitting at $0.00002442, right below the 0 Fibonacci extension level after breaking out of what looks like a double bottom pattern early on in May.
If it holds above the 200-day SMA, investors could see the Bonk price gunning for the next resistance at $0.000029815 (the 127% Fib level). This would be another 12.9% pump from the current price.
The Relative Strength Index (RSI) at 65, just below the overbought territory, so the market still has space for an uptrend.
The Moving Average Convergence Divergence (MACD) indicator also shows bullish momentum, with the blue MACD line crossing above the orange signal line.
BONK/USD Chart Analysis (Tradingview)
Looking ahead, if the price of BONK clears $0.0000298, the next target is 0.0000535, which will be a 120% surge from current levels. However, if the euphoria around meme coins fade, support at $0.00001675 (50-day SMA) could come into play.
Meanwhile, investors are flocking to the presale for a new Solana project called Solaxy (SOLX), which has just announced that its blockbuster presale will end in a little less than 24 days.
Popular YouTube channel 99Bitcoins, with over 723K subscribers, says the crypto has the potential to soar 10X post-launch.
Solaxy Presale Closes On $40 Million – Best Crypto To Buy Now?
The Solaxy presale is storming ahead after raising a staggering $1.2 million in the last 48 hours, taking its total to $39.7 million.
The project is already one of the biggest-ever Solana presales, and it’s building the world’s first Solana Layer 2 blockchain.
While the Solana blockchain has built a strong reputation for its high-speed transactions and low fees, it has also encountered persistent challenges, including network congestion and occasional downtime.
Solaxy (SOLX) is designed to fix these issues and also to enhance Solana’s performance and scalability.
🚨 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
This layer-2 solution eases network traffic by handling transactions off the main blockchain, creating a faster processing system for Solana. By doing this, Solaxy reduces the strain on Solana’s mainnet.
Transactions are handled on Solaxy’s layer 2, and bundled together before being sent back for final verification.
Solaxy’s recent technical milestones further fuel optimism. The team launched a testnet blockchain explorer and optimised rollup handling for enhanced efficiency.
A public bridge for cross-chain testing with Ethereum and Base is set to debut soon, promising seamless asset transfers and access to Ethereum’s liquidity while preserving Solana’s speed.
Buy And Stake SOLX For A 101% APY
Investors are also being drawn by Solaxy’s staking program, which offers a huge 101% annual percentage yield (APY). Over 11.3 billion SOLX tokens have already been staked.
The SOLX token is currently priced at $0.001734, and investors can join the presale using ETH, BNB, USDT, or cards.
The project has now placed a timer on its website, indicating investors have less than 24 days left to join one of the most successful presales of the year.
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