Bonk (BONK) Is About to Catch a Bid With the Higher Value

Recently, leading meme coins like FLOKI, SHIB, and PEPE have been heated, while lots of grounds have been created around the same to be expected with BONK.

The price of Bonk (BONK) is surging, and it could be poised for an even bigger rally if it manages to stay above a crucial support level.

The meme coin is currently trading at $0.00003394, and it has seen a 24-hour trading volume of $432.03 million. This puts Bonk's market cap at $2.28 billion, making it one of the largest meme coins in the world.

In the last 24 hours, Bonk's price has gone up by 1.68%, and it is showing strength over the last couple of weeks. The meme coin has managed to recover from lower support, and all signs are pointing to it being on the verge of having a breakout, so long as it stays above the critical support area.

If Bonk manages to stay above this support, then we could see new all-time highs (ATHs) soon, as per crypto analyst CryptoJack.

In his recent analysis, CryptoJack shared an optimistic outlook on the price trajectory of Bonk. He noted that the coin is following the expected pattern he detailed last week.

The price of the coin was rejected by the resistance, and now it needs to bounce from the orange area of support to stay bullish.

In his words, “Price got rejected by the resistance we wanted and now needs to bounce from the orange area of support to stay bullish. If it does, we’ll be eyeing new ATHs (All Time Highs) for Bonk.”

The highest price ever recorded for Bonk was $0.00004547 on March 4, 2024. This puts the current price of the coin 24.90% lower than its peak price.

However, recent price movements indicate a possible reversal of this trend.approval for an Ethereum ETF will add to the general feeling of bullishness across the wider crypto market and is likely to exert upward pressure on a positive wave across the market, also benefitting Bonk.