As the meme coin frenzy continues, Solana-based Bonk ($BONK ) surged over 100% in the past week, capitalizing on the recent trend of exchange-fueled price spikes.

It stands as one of the top-performing tokens in the market, currently outpaced only by MANTRA, which has witnessed a parabolic rise, and PNUT, which delivered a staggering 15x return in the same timeframe.

The rapid pace of developments in the cryptocurrency market highlights the dynamism of this space, with PNUT trading at $2 just days ago. The focus, however, is on Bonk, which has experienced a significant surge overnight.

This performance can be attributed to the continued strength of meme coins and a notable pump in Solana, Bonkā€™s native blockchain. Historically, Bonkā€™s rallies often align with Solanaā€™s, much like how Pepe often correlates with Ethereumā€™s bullish phases

Bonk (#BONK ) price analysis

Bonk recently broke through its previous all-time highs, establishing a robust support level between $0.000048 and $0.000045. This development signals significant bullish sentiment, as price discovery often leads to uncharted gains.

A 45% increase in trading volume over the past 24 hours further solidifies the marketā€™s confidence in Bonk. Although the rapid acceleration in volume has slightly tapered since the initial Solana rally, the consistent growth suggests that the tokenā€™s momentum remains intact.

Bonk currently finds solid support at the psychological level of $0.00005, with additional backing near the former all-time high at $0.000047. These support zones provide a safety net during potential pullbacks, ensuring the rally maintains its structural integrity.

On the resistance side, the next key target is $0.00006, a level reinforced by its psychological significance and technical indicators like the 1.618 Fibonacci extension. This alignment makes $0.00006 a crucial milestone in Bonkā€™s upward trajectory.

If the market sustains the momentum and overcomes resistance at $0.00006, Bonk could target higher levels, such as $0.00007 and $0.000075. However, these outcomes depend on how strongly the token reacts at its current resistance point and its ability to maintain support during inevitable corrections.

While the short-term outlook remains overwhelmingly bullish, the rapid pace of gains suggests that volatility is likely, with sharp pullbacks being a natural part of the process.

Bonk surges after Binance.US listing, eyes $1 price

Bonkā€™s price jumped 12% after its listing on Binance.US. The exchange opened BONK deposits on the Solana network, sparking excitement and boosting trading activity.

Binance.US, known for low fees and attractive rewards, brought more attention to BONK with this listing. It marked a key milestone for the meme coin, making it more accessible and appealing to U.S. traders.

BONKā€™s price continues to climb, reaching $0.000053ā€”a 30.48% increase in the past 24 hours. This surge highlights growing interest and short-term volatility in the BONK market.

Over the past day, BONKā€™s price ranged between $0.00003875 and $0.00005377, even hitting a new all-time high of $0.00005453 earlier today.

The price rally aligns with a broader trend among meme coins, as Dogecoin also posted significant gains. Bitcoinā€™s recent all-time high of $92,000 has further energized the market, possibly pushing BONK toward $1 or another record high.

Strong market support, driven by the Binance.US listing, suggests BONK may keep gaining. Technical indicators show a bullish trend, likely drawing more traders and driving the price higher.

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