In the last 24 hours, the price of BONK has achieved a significant increase of 8%, successfully reversing last week's downward trend and demonstrating its strong market resilience. Since the overall correction of the cryptocurrency market, BONK has performed significantly better than other mainstream crypto assets and has become the focus of investors' attention.
Although the overall market environment has warmed up, the internal differentiation of the meme coin sector is still obvious. PEPE and SHIB rose with the market rhythm, while DOGE, WIF, FLOKI and BRETT faced selling pressure and performed poorly. It is worth noting that BONK's rise on Monday was particularly strong, with an increase of nearly 8%, mainly due to the gradual recovery of the meme coin market from the impact of negative events such as Mt.Gox compensation and the German government's sale of BTC. At the same time, long funds actively entered the market to buy at the bottom, which also pushed the price of PEPE up by 6%, making BONK and PEPE stand out in the meme coin field.
Looking back at the dramatic volatility in the crypto market last week, BONK showed extraordinary resilience, with a strong rise on Monday bringing its weekly gain to 0.6%, making it the only meme coin with a market value of more than $1 billion to maintain an upward trend. Since the crypto market began to pull back in mid-June, BONK has performed particularly well in the meme coin field, with a decline of only 3% in three weeks, far lower than the average of other major meme coins.
BONK is not only trying to challenge the position of Solana's emoji coin leader dogwifhat (WIF), but its growth has exceeded 200% since April, showing strong growth potential. Behind this, BONK implemented a buyback plan through the Bonkbot event in London and established partnerships with heavyweight platforms such as Heliopay and Binance, which provided strong support for its success in the turbulent market.
Looking ahead, as the pessimism in the market gradually dissipates, BONK is expected to quickly break through the key resistance level of $0.000034. This resistance level has long restricted BONK's rise after the historical high in March, but it has not been effectively broken in the past two months. However, after the failed rebound attempt on May 20, BONK has fallen back for a while, but the current market dynamics provide it with the possibility of hitting this resistance level again.
At the same time, PEPE coin also achieved a 5% increase in 24 hours, breaking the recent negative trend. Since the sharp fluctuations in its exchange net flow on July 7, PEPE's bulls have begun to actively intervene, and the bottom-fishing buying behavior has increased significantly. In addition, SHIB also showed a slow upward trend, with a 24-hour increase of 2%, further adding to the positive atmosphere of the meme coin market.
In contrast, other well-known meme currencies such as DOGE, WIF, FLOKI and BRETT are still facing great selling pressure and need more positive factors in the market to push them out of the downturn. Overall, the strong performance of BONK and PEPE not only led the recovery of the meme currency market, but also provided investors with new focus and investment opportunities.
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