In the midst of a market reversal, the BONK token has emerged as the frontrunner, leading a 15% surge in the last 24 hours.
After a slump in the global crypto market, Bitcoin’s price saw a 3.50% rise, sparking a slight rebound. However, it is the meme coin realm that has experienced a significant reversal. Following a steep decline, Bitcoin has witnessed a notable upswing, with a 6.25% jump from its recent slump at $56,000. This momentum has continued, resulting in a 3.50% intraday surge to $59,412.
What’s particularly intriguing is the impact of this recovery on meme coins, as they make a widespread comeback. Notable players in this resurgence include DOGE, PEPE, and SHIB, which have found stable ground for a turnaround. However, it is the BONK token that has truly stolen the spotlight, emerging as a trendier coin and leading the recent bull run.
The BONK token has recently topped the gainers list, overcoming selling pressure. After enduring weeks of lower lows, the token found support around $0.00002314 and quickly bounced back. This pivotal moment was highlighted by the breach of the 100-day EMA mark, resulting in an impressive 92% rally since the beginning of the year.
Analyzing the daily price chart, it appears that the BONK token is sustaining its bullish reversal momentum, indicating a potential bull run in the near future. Technical analysis reveals a breakout of a bullish flag pattern in the 4-hour chart, further boosting confidence in the upward trajectory.
Furthermore, the recent golden crossover in the 24-hour chart adds weight to the possibility of an uptrend gaining momentum. With a 16.14% intraday gain, the BONK token price reflects strong buyer accumulation.
Currently, the Bonk token (BONK) is trading at $0.00002591, demonstrating resilience amidst market fluctuations. While its monthly return ratio stands at -3.20%, the token boasts a solid 27.90% yearly return, suggesting potential for further growth in the coming months.