Solana

Strong

Momentum

Bonk

<ul>
 <li>Meme coin BONK surged 15% on May 19, capitalizing on the market’s resurgence.</li>
 <li>At the time of writing, BONK traded at $0.0000261 with a market cap of $1.66 billion.</li>
</ul>
Last week, the cryptocurrency market experienced a significant resurgence, with the global market cap increasing by 8%, reaching $2.44 trillion. This rise represents an over $150 billion gain, bolstered by substantial increases in most leading cryptocurrencies. Bitcoin, in particular, made notable strides, surpassing the $67,600 mark overnight.
Following this overall market upturn, meme coins faced significant attention. Among them, <a href="https://thenewscrypto.com/bonk-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">Bonk (BONK)</a> initially showed bearish trends but capitalized on the market revival on May 19, recording a 15.3% daily gain and ending the day at $0.00002598.&nbsp;
This rally allowed BONK to break through the 50-day EMA, a resistance level challenging since May 10. Yesterday, the token hit a 15-day high of $0.00002828 before encountering resistance, which led to a 3.9% intraday decline today.
<div class="wp-block-image">
 <figure class="aligncenter size-full"><img decoding="async" width="791" height="362" src="https://thenewscrypto.com/wp-content/uploads/2024/05/image-95.png" alt="" class="wp-image-98635" srcset="https://thenewscrypto.com/wp-content/uploads/2024/05/image-95.png 791w, https://thenewscrypto.com/wp-content/uploads/2024/05/image-95-300x137.png 300w, https://thenewscrypto.com/wp-content/uploads/2024/05/image-95-768x351.png 768w" sizes="(max-width: 791px) 100vw, 791px">
 <figcaption class="wp-element-caption">Bonk (BONK) Price Chart (Source: <a href="https://coinmarketcap.com/currencies/bonk1/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a>)
 </figcaption>
 </figure>
</div>
Nonetheless, BONK maintained its position above the 50-day EMA, signaling continued bullish momentum. The subsequent days were favorable, with the coin achieving a 10% gain, sustaining the upward trend.&nbsp;
<h2 class="wp-block-heading" id="h-will-bonk-hit-new-highs">Will BONK Hit New Highs?</h2>
If BONK continues to <a href="https://thenewscrypto.com/bonk-token-sparks-optimism-in-memecoin-space-with-15-rally/" target="_blank" rel="noopener noreferrer nofollow">uptrend</a> and trades between $0.00002601 and $0.00002820, bulls aim to breach the $0.0000307 resistance level. If BONK climbs above these levels, it could drive BONK towards $0.000035. Conversely, a pullback to $0.00002306 could test the token’s resilience, potentially leading to a retest of the 50-day EMA if it falls below this support level.
Within the Solana ecosystem, BONK has been the largest meme coin, however, now Dogwifhat (WIF) has emerged as a major competitor, boasting a market cap exceeding $2.68 billion.
At the time of writing, BONK is trading at $0.0000261, with a market cap of $1.66 billion, highlighting its ongoing strong performance in the dynamic crypto market.
Highlighted news of the day
<a href="https://thenewscrypto.com/can-bitcoins-bullish-momentum-break-through-69k/" target="_blank" rel="noopener noreferrer nofollow">Can Bitcoin’s Bullish Momentum Break Through $69K?</a>

BONK Signals Strong Recovery, What You Need to Know?

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