The $BONK coin continued
Its massive increase, having risen by 11% over 24 hours until July 8, surpassing its trading volume of one billion dollars.
After dropping to $0.000021124, the BONK coin saw a notable recovery and closed at $0.000022868. According to the latest reading, the coin is trading at $0.0000228, slightly down from its highs, but remains within the upward range.
A consolidation zone formed between $0.000022848 and $0.000023033, with a breakout attempt at 10:25 GMT accompanied by a sharp increase in trading volume, confirming increasing upward pressure.
Momentum is also experiencing a significant rise on the social front. Posts on X highlight the historic shift of the $BONK coin to Trump, making it the fourth largest meme coin by market cap.
The platform bo,nk.fu,n, supported by the user community, currently controlling 54.7% of the market share, is credited with stimulating user activity and on-chain buybacks.
Users also pointed to the vibrant $BONK ecosystem through memes, anticipating that upcoming art campaigns and non-fungible token (NFT) projects will be new growth drivers.
Institutional and major narratives are also in sync. The BONK exchange-traded fund, rumored to have double leverage from Tu,ttle Cap,ital, has sparked speculation, while cautious signals from the Federal Reserve and extensions of global tariffs have expanded the risk appetite for cryptocurrencies.
With high trading volume, confirmed support, and a highly engaged community attracting attention through meme culture and decentralized finance, BONK seems well-positioned to continue rising in the near term.
Key Technical Analysis
Traded #BONK in a range of 11.49%, from $0.000021124 to $0.000023862, during the July 8 session.
The main support level was confirmed at $0.000021124, with a trading volume of $2.60 trillion during the reversal.
The price stabilized in the last hour between $0.000022848 and $0.000023033, forming a bullish consolidation range.
A surge in digital currency trades reaching 41.5 billion units at 10:25 GMT indicated renewed buying pressure and the possibility of a breakout.
The average trading volume reached 11.2 billion units per minute in the last hour, indicating sustained demand.
The BONK coin surpassed the TRUMP coin to become the fourth largest meme coin by market cap, supported by social momentum.
The dominance of the B,on,k.fun platform and the anticipated meme art initiatives support the long-term growth narrative.