Bonk Don Jay 22% Because Institutional Backing and Ecosystem Growth
Solana-based memecoin Bonk (BONK) surge 22.1% for 24 hours reach $0.00003508, e reverse earlier drops and show 81.1% weekly gain. Di token don jump over 113% dis month, break key resistance at $0.000023 and dey near last November peak wey be $0.000054. Derivatives open interest raise 25% reach $62.9 million, while trading volume climb 32% to $776 million, show say bullish bets don start again. On-chain holders near 1 trillion BONK tokens, fees for letsBONK.fun spike from $2.2 million for June go $13.2 million for early July. Bonk ecosystem dey expand: im Bonkbot Telegram tool don generate $194.6 million fees, and integrations with launchpads like LetsBonk and Bonkfun dey cover DeFi, NFTs and GameFi, bring $54.8 million annual fees across 400+ dApps. Governance via Bonk DAO allow recent $3.4 million token burn. Institutional interest dey increase after Grayscale add BONK to im watchlist and DeFi Development Corp. team up for Solana validator node. Technically, BONK/USDT show parabolic 4-hour advance from $0.00001450–$0.00001800 base on rising volume; key Fibonacci supports dey $0.00002929, $0.00002590 and $0.00002041. If e break above $0.00003600 steady, more gains fit come, but if e fail, e fit go test $0.00003100 again. Traders suppose watch volume, RSI and MACD for confirmation.
Bullish
Di tori good gid for BONK for short term an long term. For short term, di 22.1% price jump, plus di open interest for derivatives an di trading volume dey show sey people dey buy well well. Technical setups like di parabolic 4-hour advance plus key Fibonacci support levels dey talk sey e fit go higher if BONK/USDT fit hold above $0.00003600. On-chain metrics like nearly 1 trillion BONK holders plus di high platform fees show sey di network dey active and traders dey involved. For long term, di growing ecosystem for DeFi, NFTs and GameFi, plus active governance by Bonk DAO and recent token burns dey make di value strong. Plus, institutional recognition like Grayscale add am for watchlist and partnership with Solana validator fit bring more money and stabilize market. Traders suppose still dey watch volume, RSI and MACD to confirm, but di overall outlook na positive.