Crypto Expert Predicts Parabolic Surge for BONK Price Amid Record Trading Volume

BONK has continued its impressive rally, reaching an all-time high of $0.000060, solidifying its position as one of the top-performing meme coins in the market. Trading at $0.0000543, BONK has surged by over 39,166% from its all-time low, bringing its market capitalization to a staggering $4.8 billion.

A crypto analyst has explained why BONK may have even more room to grow, suggesting the price could go parabolic as Fear of Missing Out (FOMO) spreads across the crypto space. According to The Bonk Guy, a popular crypto influencer with nearly 80,000 followers on X (formerly Twitter), several key metrics indicate that BONK is poised for further gains.

The analyst pointed to BONK’s strong trading volume in major markets. Data from CoinGecko reveals that the meme coin’s 24-hour trading volume has surpassed $3.58 billion, making it the third-most-popular meme coin after Dogecoin and Pepe. BONK’s trading volume on Coinbase, the largest crypto exchange in the U.S., has even exceeded that of Pepe, Shiba Inu, and Dogewithhat combined. The meme coin has also seen strong performance on Upbit, a leading exchange in South Korea, with higher trading volumes than Solana and Ether.

Futures open interest for BONK has reached an all-time high of $51 million, signaling growing demand for the token. These indicators suggest that BONK has gained a dedicated following, particularly in the United States and South Korea, and that FOMO could drive further price appreciation in the coming weeks.

In addition to its own rise, BONK’s success has also helped boost the broader Solana ecosystem. According to DeFi Llama, Solana’s decentralized exchange volume over the past week exceeded $43 billion, outpacing Ethereum, Base, BSC, and Arbitrum combined.

BONK Price Analysis

Technically, BONK’s price chart indicates a strong bullish trend. The token has successfully flipped the critical resistance level at $0.000047 (its previous all-time high) into support, indicating sustained upward momentum. Additionally, the coin has formed a golden cross pattern, with both the MACD and Relative Strength Index (RSI) trending upward, suggesting that the bullish trend is likely to continue.

The MVRVZ indicator, which measures market value relative to realized value, has reached 3, signaling a strong bullish sentiment among investors. In the short term, BONK’s next target could be $0.000075, according to the analysis.

However, the analyst also cautioned that there is a risk of mean reversion, which could see the coin retest the 50-day moving average at $0.000028 if the rally loses momentum.

Overall, with BONK’s growing popularity, increasing trading volume, and a favorable technical setup, many analysts believe the token could continue its upward trajectory, potentially reaching new heights in the near future.