According to CoinGecko, the meme coin market is witnessing a notable boom, raising the sector's market value to $60.3 billion, an increase of 4.2% in the last 24 hours.
Due to increased trading and speculation, the market value rose by 25% to reach $56 billion just days ago.
Trading volumes exceeded $10.7 billion in the past 24 hours today, indicating no slowdown.
The value of BONK has risen by 35.5% this week, elevating its market value to $1.25 billion and ranking it 78th globally in cryptocurrency rankings.
BONK was traded at a value of $232 million in the past 24 hours after breaking the downward wedge pattern on the daily chart, a bullish continuation pattern.
As a technical expert noted on X, BONK's breakout from the upper wedge and its approach to the 100-day moving average indicates sustained bullish momentum.
Optimistic traders are targeting levels of $0.00001950, $0.0000250, and $0.0000370 if price activity continues.
BONK's rise exceeds technical expectations. Its ecosystem and holder base reach 919,000 wallets.
Community strength and ecosystem growth
The vibrant BONK community and its growing ecosystem of decentralized tools and applications that return value to the token contribute to its success.
BONKbot and BonkEarn use fee funds to buy and burn BONK, reducing supply and increasing value.
BONKSol and BONKRewards reward long-term token holders who stake or volunteer their tokens.
Through strategic marketing agreements such as BVB, Baseball United, Karate Combat, and Crypto Fight Week, BONK has gained widespread attention.
BONKRadio and BONKForPaws have incorporated humanitarian and social elements into their branding.
This community development supports decentralized entities like Bonk DAO and Phase Labs through Align and BonkAdvisory.
In collaboration with Colosseum, these decentralized entities are paving the way for future BONK products.
LiveBonk, Dragontailllucky, Moonwalkfitness, and Bonkmirror also provide users and income for BONK.