BONK price surges, surpassing FLOKI, showing amazing potential!
Last week, BeInCrypto's technical and on-chain analysis predicted that Bonk (BONK) could hit a high of $0.000025. However, this is just the beginning, and the meme coin's rise has exceeded expectations and has continued to rise.
Amid this wave of rising prices, a more eye-catching phenomenon has quietly occurred. After in-depth analysis, we found a surprising turn of events
As the meme coin in the Solana ecosystem has risen strongly, its volatility has also increased, and it has successfully surpassed FLOKI's market value. According to Coingecko data, on July 1, Bonk's market value was approximately US$1.49 billion, while Floki (FLOKI), also a meme coin, had a market value of US$1.62 billion. Today, the tables have turned, with BONK’s market cap climbing to $1.73 billion, while FLOKI’s is slightly behind at $1.7 billion
BONK’s market cap growth is closely tied to its price performance, after all, market cap is the product of price and circulating supply. As of press time, BONK’s price has risen 10.50% in the past 24 hours, far exceeding FLOKI’s 3.58% increase. Along with the surge in price, data from Santiment shows that BONK’s volatility has also risen sharply. Specifically, the on-chain analytics platform puts its one-day volatility at 0.042
Volatility reflects how quickly prices can move in the short term. If accompanied by buying pressure, high volatility can drive a token’s value to skyrocketing levels. However, if selling pressure prevails when volatility is high, prices can also crash in an instant. For BONK, as long as buyers continue to pour in, its price is expected to continue to rise
If this is the case, it would mark the end of BONK’s upward trend, turning from a bull market to a bear market. However, the current situation is just the opposite, meaning the trend is turning from bear to bull. Therefore, if buyers can maintain this momentum, the price of BONK is expected to hit a new high of $0.000031
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