Cryptocurrency market sentiment heats up, Bitcoin leads the trend, will the memecoin season come?
Recently, the cryptocurrency market sentiment has shown a clear upward trend led by Bitcoin (BTC), and the entire market has also been rejuvenated. In this wave of enthusiasm, memecoin has emerged as a dark horse and has become the focus of attention, which seems to indicate that a new memecoin season is coming.
In the past 24 hours, among the top 100 cryptocurrencies by market value, Bonk led the way with a 3.8% increase, followed by DOGE, which also increased by 3.2%. In addition, XRP was also not to be outdone, rising by 3.2%, while dogwifhat and popcat also successfully ranked among the top five in terms of increase.
Memecoin not only leads in terms of increase, but has even surpassed Sei, a layer 1 blockchain project by market value, in some aspects. This development undoubtedly further highlights Bonk's growing potential in the long run.
From the technical chart, Bonk's price trend is currently showing strong bullish momentum. The price is trading within a large symmetrical triangle and is approaching the resistance level of this pattern. This symmetrical triangle, which has formed since the beginning of the year, seems to indicate that traders and investors have accumulated a lot of Bonk, and a breakout of this resistance level seems to be imminent.
Previously, Bonk had formed a triple bottom in the $0.000016 area, a pattern that is often technically seen as a reversal signal. Now, this triple bottom has been confirmed by a breakout above the neckline, but a breakout above the upper resistance level is still crucial for the bullish scenario to really play out.
If the breakout does happen, traders may have the opportunity to see a potential return of more than 70% from the breakout area all the way to the all-time high of Bonk.
At the same time, the futures market has also shown a growing interest in Bonk. Checking the open interest of Bonk futures across all exchanges shows that people's interest in this token continues to rise as the token's price trend continues to strengthen.
We have been committed to presetting the bull market situation, rolling positions, or holding spot for a long time to reduce risks and maximize the benefits of the bull market through position management.And explore the ten-fold and hundred-fold coins. If you want to keep up with the main business of the operation, find me
