Solana News Update: BONK Faces Turning Point as Bullish Signals Meet Strong Bearish Barriers While Solana Trading Volume Soars

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Bitget-RWA2025/10/30 14:46

By:Bitget-RWA

- Solana-based meme coin BONK stabilizes near $0.000014 support, with 71% surge in trading volume above seven-day average amid market rebound. - Technical indicators show conflicting signals: RSI near 40 suggests fading bearish momentum, while MACD bullish crossover sparks short-term optimism. - BONK's Solana infrastructure and $3B ecosystem revenue position it as a key meme coin, contrasting with FLOKI/PEPE's similar but less institutionalized trajectories. - Market remains divided on $0.0000143 breakout

The Solana-based

meme

coin

BONK

has been holding steady near important support zones, as traders monitor its technical signals and trading activity during a broader market recovery. Following a steep drop earlier this month, BONK has established support around $0.000014, with

on-chain data

indicating a 71% increase in trading volume compared to the weekly average. This heightened activity points to active repositioning as investors weigh both bearish and bullish cues in a turbulent market.

Solana News Update: BONK Faces Turning Point as Bullish Signals Meet Strong Bearish Barriers While Solana Trading Volume Soars image 0

Recent price movements over the last week show a mixed trend. BONK initially challenged resistance near $0.00001518 but pulled back, unable to maintain levels above $0.0000146–$0.0000150. Since then, it has consolidated above $0.0000138–$0.0000140, forming a short-term downward channel. Technical metrics present a divided outlook: the Relative Strength Index (RSI) sits close to 40, hinting at weakening bearish pressure, while the Moving Average Convergence Divergence (MACD) signaled a bullish crossover on Thursday. Traders are now watching for a close above $0.0000143 to validate a possible recovery, or a persistent drop below $0.0000139, which could push prices down to $0.0000137.

The recent spike in volume, which

peaked at 1.26 trillion tokens

, highlights the speculative aspect of the token. While some see this as a temporary rally, others urge caution. "BONK's current pattern shows defensive moves," one analyst commented, "with traders reducing positions after repeated failures to break above major resistance." This cautious sentiment is reflected in the token's 3.8% decline over the past 24 hours to $0.00001402, despite the surge in trading.

When compared to other meme coins such as

FLOKI

and

PEPE

, BONK demonstrates relative strength. According to a

Meme Coins Price Prediction

, both FLOKI and PEPE have shown similar stabilization, with FLOKI bouncing from its weekly support at $0.000063 and PEPE retesting the $0.0000065 mark. However, BONK’s foundation on Solana and recent interest from institutions—fueled by the blockchain’s rapid expansion—help establish it as a significant contender in the meme coin arena. Solana’s network, which

generated $3 billion in revenue

over the last year, continues to draw both developers and investors, strengthening BONK’s prospects for the long term.

Opinions remain split regarding BONK’s short-term direction. Bulls highlight the MACD crossover and the RSI’s upward movement as indicators of a potential move toward the 50-day EMA at $0.000018. Bears, on the other hand, caution that without consistent buying above $0.0000143, the token may revisit lower price levels.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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