BONK Surges 5% in V-Shaped Rebound—Are Bulls Primed for the Next Leg Up?

Memecoin defies gravity with a textbook recovery—just as traders start whispering 'bull trap.'

V-Shaped or Vaporware?

The 5% pump smells like a classic crypto dead-cat bounce. But with BONK's liquidity pools deepening, this dog might still have bite.

Wall Street analysts weep into their spreadsheets as a Shiba Inu-themed token outpaces their 'fundamentals-driven' picks—again.

Technical Analysis Highlights

• V-shaped recovery: From $0.000020 to $0.00002202, up 4.65%.
• Current pullback: Trading near $0.00002128, down 5.95% in some markets.
• Support zone: $0.000020 identified as a reliable accumulation level.
• Resistance levels: $0.00002389 (immediate), $0.000026 (major), and $0.00002840 (upper consolidation range).
• Breakout target: A move above $0.000026 could project to $0.000041 on double bottom confirmation.
• Indicators: 20-day EMA turning upward; RSI positive; golden cross near-confirmation between 50-day and 200-day EMAs.

 Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.