As meme coins gained traction, BONK price increased 3.2% to $0.00002326 with a 115% increase in 24-hour trading volume.
On the 8-hour chart, technical breakout was provided, the resistance was at $0.00002434, and the support held at $0.00002187.
Relative strength of the meme coins BONK has grown by 2.7%, on a wider interest in the crypto market.
BONK, a leading meme-based crypto, experienced a robust breakout in lower time frames this week. The trading volume rose by 115% in the past 24 hours, reflecting heightened activity within meme tokens. BONK was trading at $0.00002326 by the time of writing, a 3.2% gain in the same period.
The latest technical chart shows that BONK broke out of a significant trendline while forming an ascending triangle pattern. This as other meme tokens, including PENGU and PNUT, gained momentum earlier this week. BONK is currently facing a strong resistance at $0.00002434, with nearby support at $0.00002187.
BONK Breaks Out with 115% Volume Surge and Gains Against BTC
Market participants noticed a sharp rise in BONK's 24-hour trading volume, which rose by over 115%. This rise was accompanied by a technical breakout from a tightening price range. In addition, the 8-hour chart reflected an ascending structure, which reflected continuing buying interest throughout the attempt to break out. BONK's 24-hour price range remained between $0.00002187 and $0.00002434, which were absolute short-term reference points for market participants.
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Of interest, BONK's BTC pairing also saw a 2.7% gain, priced at approximately 0.091970 BTC. The increase shows meme coins are performing well relative to general crypto markets. Post-breakup price action still reached the top resistance at $0.00002394, establishing a pivotal point before making the next likely move.
Short-Term Price Targets and Key Risk Levels
Technical indicators highlighted key zones for both support and resistance. Immediate resistance remained at $0.00002434, while support was anchored at $0.00002187. Traders also observed potential downside risk extending toward $0.00002084 and $0.00001736, respectively.
The upside price projection, shown on the breakout chart, indicated a possible target above $0.00003000. This target remains conditional on price sustaining above the breakout zone. Analysts tracked how volume trends and price consolidation interact at the current level. So far, increased demand has supported the upward movement, though confirmation will require further price action.
Broader Meme Sector Sees Renewed Interest
BONK’s breakout aligned with a broader increase in meme token activity this week. Previous movers like PENGU and PNUT attracted significant attention earlier, setting the stage for BONK’s surge. As meme coin volumes expanded, traders shifted focus toward tokens breaking from recent consolidation patterns.
In addition, BONK’s breakout coincided with improving sentiment across lower-cap meme tokens. As such, short-term charts reflect heightened market participation in this segment. BONK’s price action remains closely watched for confirmation of a sustained upward trend.
