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Bonk Price has increased by 73% since April 22, reaching a maximum of five months of $ 0.00002167.
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Bonk’s open interest increased 290% to $ 43.2 million.
Bonk (Bonk), the second largest Solana memecoin for market capitalization, is on the way to continuing the recovery that began on April 22. Bonk has risen approximately 73% since its minimum of April 22, around $ 0.00001247, which raised its price to an intrayay maximum of $ 0.00002167 on April 28.
Co -Intelegraph Markets Pro and TrainingView data show a Bonk negotiation at $ 0.00001923, 3% more in 24 hours and 60% in the last seven days.
Bonk’s negotiation volume increased 98% in the last 24 hours to $ 478 million, and its market capitalization also jumped, with letters with touches of $ 1.7 billion on April 28, before returning to reducing the current level of $ 1.5 billion.
Let’s examine the factors that have fed the impulse of Bonk’s price during the last week.
Memecoins recover in all areas
Bonk’s demonstration in the last seven days reflects the movements of bullish price in the broader cryptographic market, including the Memecoin sector. Most memecoins have published two -digit profits during the last week. Doge and Shiba Inu (Shib), the main memecoras, have jumped 3% and 5% in the last seven days.
The Trump official (Trump), the memecoin associated with the president of the United States, Donald Trump, has registered 73% of weekly profits, while Brett (Brett) has joined 83% during the same period.
This wide propagation rally has brought the total market value of Memecoin to $ 55.51 billion, a jump of 17.5% in last week, ashes data per coinketcap.
More than $ 7,96 billion was recorded in Memecoin negotiation volume in the last seven days, which represents a weekly change of 85%. The resurgence is driven by investors once again who adopt risk assets such as Memecoins.
The increase in open interest supports Bonk’s rally
The increase in the price of Bonk in the last seven days occurs after a significant jump in its open interest (OI).
Bonk’s total OI in all exchanges increased 290% of $ 11 million on April 22 to $ 43.2 million on April 26. Altheghogh this metric has fallen to $ 28 million at the time of writing, it is still December 20244.
The increase in open interest reflects the growing participation of operators in Bonk futures, indicating an indefactive speculative activity.
Caramel data show a growing demand for long and liver positions in Bonk in recent days, as indicated by the financing rate of weighted futures in OI.
The increase in usual financing rates suggests that futures merchants are optimistic, waiting for future price incentives, which can indicate a continuation of the upward trend.
Bonk’s social domain remains high, high social activity suggestion. Santiment data shows the increase in social domain of Bonk from 0.091% to 0.572% between April 20 and April 26, driven by the buzz of the Bonk ecosystem.
This increase in the talk on social media platforms reflects the increase in retail and institutional interest, amplifying FOMO and promoting demand.
Bonk leaves a multimanth lower trend
On April 13, Bonk Price exploded from a descending parallel channel, lighting the force that saw him turn the exponential mobile averages (EMA) of 50 days and 100 days to support.
The bulls will probably continue the rebound to the significant resistance level at $ 0.00002410 (200 -day SMA) in the short term. A closed daily candlestick above this level, accompanied by a high volume, could see that Bonk rises to the range of January 19, about $ 0.000040. This would represent a 104% increase with respect to the current price.
The strong increase in the relative force index and its position in 71 in the overcompra region reinforces the domain of buyers in the market.
However, overload conditions could facilitate gain taking, causing a slight correction before Bonk continues its upward trend.
“The descending trend line of $ Bonk cleared,” said the popular World of Chart analyst on April 28 in X publication, “waiting 2 times in the next few days.”
Meanwhile, Crypto Joe saw Bonk breaking a bullish flag in the 30 -minute time frame aimed at $ 0.00002690.
This article does not contain advice or investment recommendations. Each investment and trade movement implies risk, and readers must carry out their own investigation by making a decision.
