The Solana ecosystem has continued to grow tremendously over the past few months as the likes of BONK Inu and Dogwithhat (WIF) have gained much attention from many traders and investors looking to buy into highly promising meme coins.
The price of Solana (SOL) has seen its price rally from a low of $23 to a high of $114, creating new highs with over 500% in price rally over the past three months as the crypto market looks increasingly bullish ahead of its altcoin season.
Other Reading – Technical Analysis of BONK: Where is the Memecoin’s Price Heading?
On-chain data on the Solana network suggest that the Solana ecosystem is on the verge of price, seeing so much volume from degen traders and investors looking to pounce on meme coins trading on the Solana network.
One such high-demand meme coin in the past few weeks has been the BONK coin and dogwithhat (WIF) after seeing its price rally by over 16,000%, making so many people thousands of dollars in just a few weeks.
The current price action of BONK Inu suggests that the price could be gearing up for a major rally. Jake (X influencer) suggests a mega pump for BONK could be on the horizon as the price holds key support.
A new memecoin in the hood, Dogwithhat (WIF), has gained much popularity like BONK as many investors and traders speculate a listing on top exchange like Kucoin or Binance as WIF has shown what it takes to build a strong community.
BONK Inu Price Analysis on the Daily Timeframe
After seeing the price of BONK Inu meme coin rally to an all-time high of $0.0000400 on its Binance listing, the price of Bonk Inu suffered a price drop from its all-time high to a region of $0.00001300 with its market cap dropping from $1.2 Billion to a region of $850M.
With the price of BONK finding good support around its key area of $0.00001300, the price of BONK shows some strength, rallying higher as data shows buy orders buying the price of BONK at a discounted rate.
With the price of BONK forming a double bottom in the four-hourly timeframe, we could see bulls pushing the price higher from this region as the price looks good for a major rally.
Other Reading – AI Trading Revolution in the World of Forex and Cryptocurrency
Bonk Inu meme coin remains one of the top meme coins for the crypto bull run as it possesses the community and price action to rally high by over 1000%, creating crypto millionaires like other meme coins such as DOGE and SHIB.
Key Support Region for BONK – $0.00001300
Key Resistance for BONK – $0.00001600
Price Action – bullish
