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BONK Token Sparks Optimism in Memecoin Space with 15% Rally

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BONK Token Sparks Optimism in Memecoin Space with 15% Rally

  • Amidst a market reversal, the BONK token leads a 15% jump in the last 24 hours.
  • The global crypto market rebounded slightly after a slump, fueled by a 3.50% rise in Bitcoin’s price.

The global cryptocurrency market has significantly reversed, particularly in the meme coin realm. Following a huge decline in Bitcoin, it experienced a notable upswing, marking a 6.25% jump from its recent slump at $56,000. This momentum persisted, leading to a 3.50% intraday surge to $59,412.

What’s especially interesting is how this recovery impacting meme coins, fueling a widespread comeback. Among the notable players in this resurgence are DOGE, PEPE, and SHIB, which have found solid ground to pivot. However, the BONK turns into a trendier coin, truly steals the spotlight, and emerges as a frontrunner in the recent bull run.

BONK Tops the Gainers List 

Recently, the BONK token caught under the grip of selling pressure. After weeks of enduring lower lows, the token recently found support around $0.00002314 and swiftly bounced back. This pivotal momentum was highlighted by the breach of the  100-day EMA mark, resulting in an impressive 92% rally since the start of the year.

BONK Price Chart (Source: TradingView)

According to the daily price chart, the BONK token seems to sustaining its bullish reversal momentum, hinting at a potential bull run soon. Technical analysis reveals a bullish flag pattern breakout in the 4-hour chart, further bolstering confidence in the upward trajectory.

Moreover, the recent golden crossover in the 24-hour chart adds weight to the possibility of an uptrend gaining momentum. Following an intraday gain of 16.14%, the BONK token price reflects strong buyer accumulation.

At the time of writing, the Bonk token (BONK) is trading at $0.00002591, showcasing resilience amidst market fluctuations. While its monthly return ratio sits at -3.20%, the token boasts a solid 27.90% yearly return, signaling the potential for further growth in the coming months.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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