With the Solana blockchain creating a huge buzz in the market, Solana-based meme coin BONK takes advantage of this opportunity. As BONK price skyrocketed overnight, the uptrend in action is setting up a breakout rally ready to scale the all-time high.
Moreover, the meme coin sector is showing promise of a strong comeback this week as exhausted buyers gain more confidence. Moreover, BONK, one of the best meme coins, might surpass the $0.000050 mark soon.
Double Dip This Meme Fuels Coin’s Rally
With the ongoing bull run taking a brief break on the daily chart, BONK price is setting up a strong pattern for a rebound. Additionally, with the latest jump starting from the overnight increase, meme coin It is preparing an extension of the uptrend.
BONK price action is showing a double bottom pattern forming with a neckline at $0.000037 on the daily chart. Additionally, the meme coin is up a rapid 20% from last night, reflecting a boom in underlying demand.
Koinfinans.com As we reported, BONK price is currently trading at $0.000034 with an intraday gain of 7.96%. With the recent reversal, the meme coin is poised for a double-bottom breakout rally to surpass the overhead resistance at $0.000046.
Can BONK Price Surpass $0.000050?
Buyers are preparing for the next rise with BONK price action indicating a strong demand presence at critical levels. Additionally, a break of the bullish formation targets a bounce past $0.000050.
Based on trend-based Fibonacci levels, a neckline break could result in a rally to the $0.000046 mark. Thus, the chances of the price jumping to $0.000050 also increase significantly.
