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Why BONK Price is Up Today?
The Solana-based meme token, BONK, has been making headlines as its price surges past a key resistance level and eyes a potential breakout rally. In the span of 24 hours, the token has skyrocketed by over 13%, with its seven-day return reaching an impressive 29%.
As the crypto market continues to shift, it is essential for investors and traders alike to stay informed about market trends and analysis. Today, BONK’s price chart indicates a significant upward momentum, driven primarily by a falling wedge breakout.
The token has broken out of a falling wedge pattern on its daily chart, resulting in an explosive move above the $0.00002434 resistance level. The new resistance, now turned support, marks the beginning of a potential short-term rally.
Source: coinpedia.org
