BONK returns with a bang
Bonk, the meme token that occupies Solana, has rebounded significantly from the $0.0000213 support area, showing renewed interest in the market. This is the second of two similar recoveries that Bonk has experienced in the past three weeks. According to price data, Bonk has gained 12.5% in the past four trading days.
Bonk recently traded at the 50% Fibonacci level of $0.0000213. This reversal amounted to a healthy correction, which facilitated a successful rebound afterwards. Nonetheless, Bonk has yet to break above the $0.0000300 price ceiling due to weak price action.
Bonk rose 7% from $0.0000228 on May 11 to $0.0000244 on May 17. Considering the positive sentiment surrounding Bonk, experts believe that it could achieve a hundredfold increase by the end of the bull run. Meanwhile, Bonk’s target price level is $0.0000260, which is a 6.5% increase from the current price.
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TON’s growth exceeds Bitcoin’s by 160%
TON has gained significant attention in 2024 as it continues to outperform top altcoins of the same weight class in terms of price and ecosystem development. According to a report on May 16, it has risen by 160% relative to Bitcoin (BTC). However, this rise is calculated over a year.
TON’s outstanding performance is attributed to its resilience and growth prospects. Interestingly, indicators such as RSI and MACD hint at a bullish trend for TON in the coming days.
Meanwhile, TON’s market cap fell by 2.5% from $6.77 to $6.60. It is expected that TON’s decline will soon stop and a hundredfold rebound will occur before the end of this bull run. Currently, TON is expected to rise by 3% to $6.80.
(Personal opinion, not a recommendation)
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