BONK Inu (BONK) leads crypto market momentum in early July 3rd trading, surging over 21% to become the top gainer among the 100 largest cryptocurrencies by market capitalization.
Currently, BONK is trading at $0.00001689, having climbed from a session low of $0.00001568 to reach an intraday peak of $0.00001750, marking its highest level in 28 days.
Source: TradingViewThe rally coincided with renewed optimism in risk assets following Bitcoin’s recovery above the $110,000 threshold, which has triggered a broad-based bounce across established cryptocurrencies.
KOLs and Whales Confirm BONK Setup to Lead Crypto Market With 100%+ Potential
BONK experienced particularly strong momentum with trading volume jumping 366% to exceed $583 million in the past 24 hours.
This surge has propelled BONK’s market capitalization above $1.3 billion, solidifying its position as the second-largest Solana-based memecoin, trailing only President Trump’s official memecoin (TRUMP), which has a market capitalization of $1.79 billion.
Source: CoinMarketCapThe momentum appears sustainable as numerous crypto analysts continue to express bullish sentiment on the memecoin, citing significant upside potential remaining.
Veteran crypto trader Alicecrypto, who has been active in the market since 2012, provided an updated analysis confirming BONK’s price movement aligns with her expectations and forecasted an additional 100%+ gain from current levels.
Similarly, Bluntz Capital, a memecoin trader with over 322,000 followers, shared comparable optimism.
While questioning whether BONK can reclaim its November 2024 all-time high of $0.00005916 in this cycle, they expect a 100-130% increase from present levels to be likely.
Several other traders share similar positive projections.
Additionally, whales, project founders, and key opinion leaders remain bullish on BONK’s chart, frequently asking “Wen BONK”, crypto slang questioning when a major price surge might occur.
On-chain analytics reveal that a newly created wallet recently accumulated $180,000 worth of BONK, displaying typical FOMO behavior commonly observed during market uptrends.
Furthermore, Solana’s Founder and CEO, Anatoly Yakovenko, was spotted engaging with BONK-related content.
Solana-based LetsBONK.fun Crushes Pump.fun With 126% Volume Explosion
Adding another catalyst, the BONK foundation’s token launchpad, LetsBONK.fun, has been gaining notable momentum.
LetsBONK.fun recently surpassed the OG launchpad Pump.fun in daily volume, with Pump.fun experiencing a 6.7% decline while BONK recorded an impressive 126% increase.
This development benefits BONK holders as 50% of LetsBONK.fun’s revenue is allocated to buying and burning BONK tokens, creating positive price pressure.
Pump.fun’s market dominance has decreased from over 90% to 70.4%, while LetsBONK.fun’s share has grown to 13.4% of the memecoin market.
The prominent BONK advocate known as “BONK GUY” continues encouraging the community to remain focused on the memecoin, maintaining his belief that BONK represents the most accessible path to a $10 billion+ memecoin opportunity in this bull cycle.
Technical Breakout Targets $0.00003372: 100% Upside Confirmed
The BONK/USDT daily chart displays a bullish breakout from a descending channel pattern, indicating a reversal from the previous downtrend.
Following the momentum recovery, the price has climbed above key exponential moving averages (EMA 20, 50, 100, and 200), which are now clustered below the current price at $0.00001667, suggesting a bullish crossover and strengthening support.
Source: TradingViewBONK is eyeing the $0.00003372 level, representing approximately 100% upside from current prices.
This target corresponds to a previous high and serves as the next significant resistance level. Increased volume validates the breakout’s authenticity.
Should the price clear the initial resistance zone near $0.00002000, an additional 72% rally is projected, potentially driving BONK toward the $0.00005500 region.
Source: TradingViewThe momentum remains decidedly bullish, and sustained buying pressure is expected to support continued upward movement.
However, failure to maintain levels above the EMA cluster could prompt a retest of the breakout zone before the advance resumes.
The post BONK Leads Crypto Market with 21% Gain, As Whales Pour In $180K – Is a 100% Rally Next? appeared first on Cryptonews.
