Bonk (BONK) is the second-largest meme coin in the Solana network with a market capitalization of $1.8 billion.
In the past 30 days, its price has jumped by 75% as most meme coins have rallied amid a radical shift in market sentiment.
The Fear and Greed Index recovered from a record low of 15 (Extreme Fear) to 73 at the time of writing, indicating that investors have now adopted a greedy attitude.
President Donald Trump’s willingness to negotiate with China and other countries on a more attainable arrangement and a 90-day pause on its aggressive tariffs gave investors enough reason to buy cryptocurrencies frantically.
However, the underlying reason that may be fueling this rally is an expectation that the Federal Reserve will be forced to cut interest rates down the road to prevent an economic downturn caused by Trump’s hostile trade policies.
A more supportive macro backdrop could provide the necessary demand for tokens like BONK to reach higher highs in the next few months.
The reason why BONK could be the next crypto to explode is that liquidity has mostly turned to exotic assets rather than the long-standing tokens of the Solana ecosystem.
For example, Pudgy Penguins (PENGU) has surged 226% in the past month. This may have been the result of a strong short squeeze as PENGU was also one of the worst-performing tokens of the top 10 and it still is on a year-to-date basis.
Now, as the rally matures, most of the liquidity and demand will go to the most well-established tokens like BONK.
BONK Could Explode If It Breaks the $0.000026 Resistance
Looking at the daily price chart, BONK has hit a critical resistance at around $0.00002600. This has been an area of strong selling pressure.
Hence, it could also be an area of significant liquidity if bulls manage to push the price to $0.00002800 as they will likely wipe out a significant volume of short orders and cause another short squeeze that favors BONK’s performance in the near term.
The market was heavily one-sided as we entered the beginning of April. Now, sellers may have started to take some profits off the table as the trend reversed. All of this supports a bullish short-term outlook for BONK.
Momentum indicators are strong but and the 21-day and 200-day exponential moving averages (EMAs) seem poised to post a bullish ‘golden cross.’ Coupled with the strong liquidity that this price zone could be harboring, BONK could be gearing up to explode to higher highs in the next few weeks.
As Solana meme coins continue to make waves across the market, the best crypto presales like Solaxy (SOLX) will likely outperform well-established tokens as they are offered at heavily discounted prices to early buyers.
Solaxy (SOLX) Solves Solana’s Congestion Issue by Introducing a Powerful L2
Solaxy (SOLX) is a layer-two scaling protocol for the Solana blockchain that reduces the efficiency issues that have plagued the mainnet during peak usage periods.
By bundling transactions offline in a side chain, Solaxy alleviates the mainnet’s burden and strengthens Solana’s reputation as the home for meme coins and, eventually, the most innovative decentralized finance (DeFi) protocols.
As this new L2 is progressively adopted by wallets and exchanges, the demand for $SOLX, the solution’s utility token, will rise rapidly. Hence, those who buy this token at its discounted presale price of $0.001724 will be favorably positioned to reap the highest returns once the token is listed on exchanges.
Apart from this attractive upside potential, $SOLX also offers staking rewards of 113% to investors who are willing to lock in their tokens to secure the L2.
To buy $SOLX, simply head to the Solaxy website and connect your wallet. You can either swap SOL or USDT for this token or use a bank card to make your investment.
