Bonk is gaining strong momentum in the crypto market, drawing attention from both analysts and the Solana community. Recent partnerships and technical signals are adding to the growing interest around the meme-inspired token. With further adoption and market activity ahead, BONK’s next moves are being closely watched.
At the time of writing, BONK is trading at $0.00002283, and it has a 24-hour trading volume of $658.46 million with a market capitalization of $1.85 billion. The meme coin has gained 12.13% in the last 24 hours, thus attracting renewed attention in the market.
Crypto analyst Jay Matthews highlighted BONK’s ever-growing role in the Solana ecosystem, noting that it has now become Solana’s USD1 launchpad through a recent collaboration with @worldlibertyfi.
He further noted that nearly 60% of Phantom holders have not yet claimed their airdropped BONK, thereby leaving a sizeable amount of tokens dormant. This could spark greater activity once the holders recognize value in their airdropped tokens.
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Additionally, crypto analyst More Crypto Online shared his technical perspective. He explained that BONK has shown a positive reaction to Fibonacci support, which many analysts view as a bullish signal during price retracements.
However, he noted that the recent rally still only demonstrates a three-wave advance. His take was that a confirmation would be if the token creates yet another higher advance, which may be the point of initiation for wave C, a stronger bullish phase potentially taking the prices up yet higher.
With its growing partnerships, active community, and building momentum, the token continues to attract increasing attention as one of the most compelling tokens on the Solana network. Technical developments and new adoption plans could influence its near-term price movement, while the ongoing airdrop is expected to drive increased activity in the coming weeks.
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