Solana Meme Coin Frenzy: Bonk Defies Gravity as Volume Explodes 2X

Solana’s meme coin circus has a new headliner—Bonk just mooned past skeptics as daily trading volumes doubled overnight. Dogwifhat sweating yet?

Behind the pump: Retail traders are piling into high-risk plays again, because nothing screams ’financial responsibility’ like chasing Shiba Inu knockoffs during a macro downturn. The blockchain doesn’t lie—Solana’s rails are handling the meme surge without breaking (this time).

Cynical take: Wall Street still won’t touch these with a 10-foot pole, but hey—at least the degens are keeping transaction fees flowing. Just don’t check the charts after the next Fed meeting.

BONK Eyes $0.00002580 as Positive Momentum Accelerates

Looking at the daily chart, we can see that BONK has found strong support for the fourth time at the $0.0000900 level.

Meanwhile, the token pushed through the 21-day EMA in the past few days with strong volumes and seems to have fully reversed its downtrend already.

BONK has also distanced itself from its point of control (POC), which is the price area where the highest trading volumes have occurred.

This is bullish and implies that market participants are ready to push the price higher to see where they find resistance from sellers.

As the macro backdrop was significantly bearish, this rally may have been aided by a short squeeze as short-sellers were likely positioned for further drops.

From $0.00002070 to $0.00002500, volumes have been very low this year. This could open up the door for bulls to push the price to those heights, which translates into a 26.8% upside potential in the NEAR term.

The Relative Strength Index (RSI) is now nearing overbought levels, while the MACD’s histogram decelerated yesterday and may have opened up a window for late buyers to buy BONK at an affordable price if they expect that the rally will continue for the rest of the week.

The $0.2580 is the key resistance to watch ahea,d while BONK has also climbed to an area where there was a huge order block waiting. This could result in a short-term drop and could provide further buying opportunities.

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