In the last 24 hours, the BONK coin has seen a surge north of 52%. The token is themed around Shiba Inu and Solana, and its recent momentum signals a potential breakout coming.
The rise in the price of BONK comes after the crypto has fallen in demand. The gain brought BONK to a resistance zone of $0.0000149. This price action raises the question: was the lack of a bullish surge enough to wipe away the past 24 hours of gains, or is this the start of a major breakout for the next big crypto?
Also Read: Dogecoin Whales Purchase $127 Million Worth of DOGE
BONK Coin Surge: Will It Continue to Breakout?
The BONK price surge came after the project introduced single-sided staking, as well as Coinbase listing the crypto coin. A breakout past the $0.0000149 level and a retest would offer a buying opportunity targeting the 61.8% Fibonacci extension level at $0.0000219 for BONK.
Dogecoin (DOGE) and Shiba Inu (SHIB) are the most popular memecoins and dog-themed cryptocurrencies. BONK is the latest memecoin to take the cryptocurrency space by storm. Moreover, the token’s parent chain, Solana (SOL), is among the best-performing cryptocurrencies in 2023.
Also Read: Solana-Based Memecoin BONK Hits All-time High, Rallies 648%
One of the latest meme coins to take the crypto market by storm was PEPE earlier this year. The coin saw exponential price activity in a span of a few days, and BONK may be prepared to do the same.
With the market gearing up for a potential bull run in 2024, we might witness big things for the new dog-coin. Is a new meme-coin king coming in 2024?