Solana

Bitcoin

Bonk

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<p dir="ltr">Bonk (<a href="https://u.today/solanas-bonk-bonk-13000-spike-heres-what-to-pay-attention-to-analyst" rel="noopener noreferrer nofollow">BONK</a>), the pioneering dog-themed meme coin built on the Solana blockchain, has experienced an impressive 10% surge in the past 24 hours, according to CoinMarketCap’s&nbsp;<a href="https://coinmarketcap.com/currencies/bonk1/" rel="noopener noreferrer nofollow">data</a>. This surge appears to be closely correlated with the recovery of Solana (SOL) from recent market setbacks.</p>
<h2 id="solana-s-resilience-and-recovery">Solana’s resilience and recovery</h2>
<p dir="ltr">Solana, known for its high-speed and low-cost transactions, faced a challenging period, witnessing a notable 26% drop in its native token, SOL, since Jan. 11. This decline, from a peak of $107, fueled by a brief surge in Bitcoin after the U.S. Securities and Exchange Commission approved spot Bitcoin ETFs, bottomed out at $79.34 on Jan. 23.&nbsp;</p>
<p dir="ltr">However, as of the time of writing, SOL is showing signs of a comeback, trading at $90.94 and marking a 4.5% increase in the past day. As SOL&nbsp;<a href="https://u.today/ethereum-eth-loses-all-of-its-gains-bitcoin-btc-not-ready-to-give-up-40000-solana-sol-comeback" rel="noopener noreferrer nofollow">regained momentum</a>, its positive impact rippled through the broader crypto ecosystem, benefiting assets like BONK.&nbsp;</p>
<p dir="ltr">According to the latest data, BONK is now trading at $0.00001157, reflecting a 10% increase in the last 24 hours, with a market capitalization of $733 million. The meme coin has seen fluctuations since reaching its December all-time high of $0.0000341, with recent bearish trends giving way to a potential resurgence.</p>
<h2 id="bonk-s-technical-analysis-and-future-trajectory">BONK's technical analysis and future trajectory</h2>
<p dir="ltr">BONK's price action has caught the attention of traders, especially with its recent rejection from the support at $0.000010, a level that also holds psychological importance.&nbsp;</p> <img data-entity-type="file" data-entity-uuid="fdf117d2-3e81-4b91-bf37-3a6581f18685" src="https://u.today/sites/default/files/inline-images/BONKUSDT_2024-01-26_15-09-37.png"><a href="https://www.tradingview.com/x/7614AcEI/" rel="noopener noreferrer nofollow">BONK Price Chart Via TradingView</a>
<p dir="ltr">If BONK can sustain its upward trajectory, the next challenge for bullish momentum lies at the 50-day Exponential Moving Average (EMA) at $0.0000122. The EMA often acts as dynamic support or resistance, presenting a hurdle for BONK bulls.</p>
<p dir="ltr">A promising sign for the meme coin is the substantial uptick in spot trading volumes, reaching $130 million in the past day. This surge in trading activity suggests renewed interest from meme coin investors. In a positive move for the dog-themed token, BONK has&nbsp;<a href="https://u.today/solanas-bonk-integrates-epic-wallet-functionality-to-dethrone-shiba-inu" rel="noopener noreferrer nofollow">added</a> the "PooperScooper" tool to its wallet, allowing users to better organize their holdings.</p>
<p dir="ltr">This feature is proof that beyond erratic price trends, BONK also has enough to offer.</p>

BONK Jumps 10% as Solana (SOL) Recovers Lost Ground

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