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Bonk (BONK) has gone up by nearly 60% in the past 7 days as Solana meme coins have been experiencing a strong wave of positive momentum.
Canary Capital’s progress to get a Pudgy Penguins (PENGU) exchange-traded fund (ETF) listed has given investors hope that either this firm or some other could apply to list a similar vehicle for BONK.
Trading volumes for the latter show that bullish interest in this token has been increasing as trading volumes have moved from $122 million at the beginning of the month to $1.4 billion as of yesterday.
$BONK just broke a major trendline that held the price down for 9 months.
No more lower highs.
It’s time for a new phase of expansion.
Price discovery could be wild from here 🔥 pic.twitter.com/4io7XMJ0af— Crypto Target (@cryptotarget11) July 6, 2025
Traders on X have been highlighting a long-dated trend line breakout as a sign that BONK is ready to reverse the downtrend that started in November last year.
This breakout coincides with a retest of a key area of resistance at $0.00002400. If the price continues to rise above this level, it would support a bullish outlook for the token that could push it to at least $0.000040.
Moreover, a campaign to burn 1 trillion BONK tokens once the number of holders reaches 1 million is nearing its target and will effectively reduce the circulating supply by approximately 1% once it is achieved.
Other Solana meme coins have also experienced strong upticks recently, apart from BONK and PENGU. SPX6900 (SPX) has booked gains of 18.6% in the past 30 days, while Fartcoin (FARTCOIN) has also produced a 15% return during this same period.
BONK Breaks Out of Descending Price Channel as Positive Momentum Accelerates
Looking at the latest price action, the price has broken a descending price channel with strong volumes. BONK has been rising for 6 consecutive days since that breakout occurred.
Meanwhile, the 9-day exponential moving average (EMA) has crossed above the 21-day EMA. This is a buy signal that confirms a change in the price trend and rising positive momentum.
These two short-term EMAs are also heading to cross above the 200-day EMA. If that happens, that would trigger an even stronger buy signal as it would confirm a change in the direction of the long-term trend, from bearish to bullish.
The Relative Strength Index (RSI) shows that bullish momentum is picking up its pace as the oscillator has entered overbought territory. This means that the uptrend has gained significant strength and also favors a bullish outlook.
With the significant liquidity that lies above the $0.00002500 level, the odds favor a move above this indicator, especially after it has been tagged multiple times, meaning that sell orders at this level may have been depleted.
Meanwhile, the most promising crypto presales in BONK’s category nowadays have shifted from animal or meme-themed tokens to parodies of the financial system like SPX6900 (SPX).
A new presale called Token6900 (T6900) embodies a generation’s attempt to disrupt the status quo by taking a stand on a financial system that has mostly failed them. This meme coin has no practical use or roadmap because guess what… You are the utility.
Token6900 (T6900) Is Pure “Vibe Liquidity” with a Touch of 2000s Nostalgia
Meme coins have grown to become a formal segment of the crypto space with growing ecosystems and robust roadmaps.
Token6900 (T6900) is the antithesis to that. This token is what meme coins should ultimately be. A worthless piece of code that is only valuable if enough ‘degens’ believe it is.
With T6900, you don’t have to worry about sniping tokens, tracking earnings reports, or looking for good entries and exits. Just hit the buy button and forget about it. If enough people believe it can hit the moon, it will – as simple as that.
Nothing guarantees its success. It has nothing good to offer and its market value is hard-capped at $5 million with a maximum supply of 930,993,0001 tokens.
The price starts at $0.006400 and the highest it will go is $0.007125. It’s pure exit liquidity with a touch of 2000s nostalgia.
To buy $T6900 and break out of the loop, head to the Token6900 website and connect your wallet. You can either swap it for USDT or ETH, or use fiat money to buy it.
