Is BONK Crypto About to Bonk the $0.000025 Ceiling? 🚀💰

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  • The weekly chart was as bearish as a bear in a bear suit, but flipping $0.000026 to support could change this faster than you can say “BONK“!
  • With the high demand for BONK, a move beyond the May high is as likely as a clown at a Mel Brooks movie premiere this month.

Bonk [BONK] has seen increased demand and strong bullish sentiment in recent days, making it the new kid on the crypto block who’s got everyone talking… and buying! 🛍️

Coinalyze data revealed that the memecoin saw a 4% price hike over the past 24 hours, but an 8% increase in Open Interest. The speculative activity was another market of bullish strength, proving that when it comes to BONK, the only thing more speculative than the coin is a Mel Brooks script reading! 📜

The price movement of Bitcoin [BTC] was likely to affect the altcoin market, including the memecoin sector. A drop below the $107.3k level could flip the short-term market expectations bearishly, but let’s be real, who doesn’t love a good bear market when you can short it like a pro? 🐻

If the king coin continues to trend sideways or higher, there is a good chance BONK might be able to challenge and surpass the local highs. It’s like watching a comedy where the underdog always wins, but in this case, the underdog is a memecoin! 🎭

BONK crypto charges toward May highs

The move beyond $0.000018 on the 5th of July was the first true sign of recovery, like finding a silver lining in a cloud of bearishness. 🌤️

In a recent report, AMBCrypto highlighted the bullish short-term expectations for BONK. This has come to pass, evidenced by the strong rally beyond the $0.00002 round-number resistance. It’s like BONK is on a mission to prove that even a memecoin can have a serious rally! 🚀

The OBV soared past the highs from May, and the trading volume bars showed remarkable daily trading volumes over the past few days. It’s like the trading floor turned into a comedy club, and BONK was the star comedian! 🎤

This surge in demand could push BONK crypto prices toward the $0.000025 level, the price high from May. The Fibonacci levels showed that the 23.6% extension level at $0.0000298 was a viable price target for the bulls. But hey, who needs Fibonacci when you’ve got faith in the memecoin revolution? 🌟

However, traders and investors must remember that the weekly chart was bearish, until the $0.000026 region could be flipped to support. It’s like trying to turn a frown upside down, but in the crypto world! 😄

The liquidation heatmap confirmed the expectations from the price chart. The $0.0000256-$0.0000262 region was a sizeable magnetic zone. It’s like a magnet for traders, but instead of attracting paper clips, it’s attracting liquidations! 🧲

The concentration of liquidation levels here meant that a bearish reversal was a possibility. But let’s not get too bearish, shall we? After all, the demand and momentum behind the bulls were strong, and the liquidity cluster overhead might only cause a minor pullback before another attempt to move higher. It’s like a rollercoaster, but with more excitement and less nausea! 🎢

Therefore, BONK traders already in long positions could look to take profits around $0.000026 and wait for price action to develop before making their next move. It’s like playing a game of chess, but with crypto as the pieces and the market as the board. 🏦

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2025-07-08 04:11