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The coin, which has gained over 14% in the last 24 hours, now sets its sights on the next target at $0.00096—fueled by rising investor optimism and a shifting meme coin landscape within the Solana ecosystem.
BONK Reclaims Momentum as Capital Rotates from Fartcoin
BONK’s latest breakout comes on the heels of a significant capital shift within the Solana meme coin market. Investors appear to be rotating funds from newer meme tokens like Fartcoin—once a market leader—to legacy plays like BONK. This repositioning has helped BONK reclaim its position as the second-largest Solana meme coin, boasting a market cap of $1.27 billion.
BONK completed a classic gap fill to the daily EMA100, a pattern often seen across timeframes and noted earlier in the group. Source: G O N Z O via X
The rotation has been driven in part by Fartcoin’s recent cooling off after a meteoric 180% gain in just three weeks. As traders booked profits, BONK emerged as the next favored asset. “There’s growing confidence in older, more established Solana meme coins,” noted one analyst. “BONK is benefiting from both historical loyalty and fresh market momentum.”
Technical Indicators Flash Bullish Signals
On the technical front, BONK’s chart is showing signs of a strengthening uptrend. The meme coin is in an upward parallel channel of trade, with the Relative Strength Index (RSI) still near 68, indicating sustained buying demand. The bounce over the 50-RSI level last week further cemented the positive narrative.
BONKUSDT remains in its ascending channel, with a key breakout or rejection near the sell-off zone likely to determine its next major price move. Source: weslad on TradingView
The Average Directional Index (ADX), which measures the trend strength is rising as well. These indicators in general suggest that BONK could continue to rise, possibly breaking through to the $0.00096 resistance level if momentum continues.
However, traders are urged to watch for support at $0.000012. A break below this level would invalidate the bullish pattern and signal a potential reversal. Technical sentiment is positive at this juncture.
Meme Coin Mania Boosts Bonk’s Appeal
The broader backdrop also favors BONK. A meme coin rally is underway on the Solana network, with several tokens experiencing double- and even triple-digit gains over the past week. According to CoinGecko, the combined market cap of Solana meme coins currently sits around $9.73 billion.
Tokens like TRUMP and PENGU have seen weekly gains of over 70%, further fueling the speculative frenzy in this niche. BONK, despite being a veteran in the space, is now enjoying renewed attention thanks to this “meme season” resurgence.
Long-Term Potential Rooted in Community and Distribution
Launched as Solana’s first major meme coin, BONK carries a unique edge in terms of community strength. Half of its total supply was initially airdropped to Solana users, NFT holders, and developers, making it one of the most widely distributed meme coins in the crypto ecosystem.
Bonk (BONK) was trading at around $0.000015, up 4.65% in the last 24 hours at press time. Source: Brave New Coin
While BONK experienced a rough patch in the past year, hitting its lowest price levels, it has shown remarkable resilience. Its strong holder base and periodic token burns continue to support its value proposition. “BONK may not have the brand power of Dogecoin, but its community loyalty makes it a strong contender,” said one early investor.
Final Thoughts
With BONK now testing resistance at $0.000015 and bullish indicators aligning, the road to $0.00096 appears plausible—provided current momentum continues. As retail interest returns and Solana meme coins stay in the spotlight, BONK could be poised for further gains.
Still, volatility remains high in the meme coin sector, and traders should proceed with caution. Whether BONK can push past its next resistance and deliver a breakout will depend on broader sentiment and continued technical strength. For now, the bulls appear firmly in control.
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