This Meme Coin To Lead The Solana Bull Run In Q4 2024?

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As Bitcoin reaches a new all-time high during early Asian trading hours, the crypto market is experiencing a surge in momentum — particularly within the memecoin sector. One token standing out amid this rally is Bonk (BONK), which has broken through a critical resistance level and joined the ranks of the top gainers.

With growing speculation around whether this bullish momentum will continue into Q4 2024 or if a market pullback looms ahead, investors are turning their attention to Solana-based assets. In this article, we’ll explore current market sentiment, conduct a technical analysis of Bonk, and assess its potential price trajectory in the coming weeks.

👉 Discover how this trending memecoin could shape the next phase of the Solana bull run.

Bonk Meme Coin Breaks Key Resistance Level

Fuelled by strong bullish pressure across the cryptocurrency landscape, Bonk has surged 18.79% in the past 24 hours, with a trading volume exceeding $385 million. Over the last seven days, it has added nearly 4% to its value, signaling renewed investor interest.

Despite showing a neutral trend over the past month, Bonk’s year-to-date (YTD) performance tells a more compelling story — a +67.85% return that reflects sustained long-term optimism. Currently, it holds a market capitalization of $1.674 billion, securing the 52nd position among all cryptocurrencies.

This resilience suggests that BONK isn’t just riding short-term hype but may be building foundational strength ahead of a broader market move — especially on the Solana ecosystem, where activity continues to grow.

Technical Analysis: Is Bonk Poised for Further Gains?

Let’s break down the key indicators shaping Bonk’s current price action.

Simple Moving Average (SMA) Shows Bullish Convergence

On the daily chart, the Simple Moving Average (SMA) is approaching a bullish crossover. This pattern typically signals increasing buying pressure and often precedes upward price movements. When shorter-term averages cross above longer-term ones, it reflects growing confidence among traders — a positive sign for BONK holders.

RSI Enters Overbought Territory

The Relative Strength Index (RSI) has spiked sharply into the overbought range, currently sitting above 70. While overbought conditions can sometimes precede corrections, they also indicate strong momentum and sustained demand.

In trending markets — especially during bull runs — assets often remain overbought for extended periods. This suggests that even if profit-taking occurs, underlying bullish sentiment could keep pushing prices higher.

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Can Bonk Reach $0.000033?

The big question on investors’ minds: Can Bonk突破 $0.000033?

If bullish momentum continues — supported by broader market strength and increased adoption on Solana — BONK is likely to retest its immediate resistance at $0.0000270**. A successful breakout above this level could open the path toward the next major target: **$0.000033.

Reaching this price point would represent significant upside from current levels and reinforce BONK’s role as a leading memecoin on Solana.

Downside Risk: Support Levels to Watch

Of course, no asset moves in one direction indefinitely. Should market sentiment shift or profit-taking accelerate, Bonk may face downward pressure.

Key support levels to monitor include:

A drop below $0.0000150 could signal deeper correction risks, especially if broader crypto markets cool off. However, given its solid YTD performance and growing ecosystem integration, many analysts believe such a decline is unlikely unless triggered by macro-level shocks.

Why Bonk Stands Out in the Memecoin Space

Unlike many short-lived meme projects, Bonk has built real utility within the Solana ecosystem. Originally launched as a community-driven token with fair distribution principles, it has since evolved into a brand with:

These developments have helped anchor BONK beyond pure speculation, giving it staying power in a crowded memecoin market.

Moreover, Solana’s resurgence in Q3 2024 — marked by rising transaction volumes, new DeFi launches, and improved network stability — provides fertile ground for native tokens like Bonk to thrive.

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Frequently Asked Questions (FAQs)

Is Bonk a good buy right now?
Yes, based on current technical indicators and market sentiment, Bonk appears attractively priced for long-term investors. Trading at a 53.68% discount from its all-time high, it offers substantial upside potential if the Solana ecosystem continues to expand.

How old is the Bonk coin?
Bonk was launched on December 25, 2022, making it one of the earliest memecoins on the Solana blockchain. Its fair launch and community-first approach helped it gain rapid adoption.

Will Bonk rise in price in Q4 2024?
While no prediction is guaranteed, multiple factors suggest upward movement: strong trading volume, positive SMA convergence, and increasing use cases within Solana dApps. If Bitcoin maintains its bullish trend, altcoins like BONK could see amplified gains.

What makes Bonk different from other memecoins?
Bonk stands out due to its early integration with Solana’s core protocols, including NFT platforms and decentralized exchanges. It also introduced innovative distribution models like "airdrops to NFT holders," fostering organic community growth.

What are the key price targets for Bonk?
Short-term: $0.0000270 (retest)
Mid-term: $0.000033 (breakout target)
Long-term: Depends on ecosystem growth and overall crypto market conditions.

Could Bonk lose value?
Yes — like all cryptocurrencies, BONK is subject to volatility. A broader market correction, loss of investor interest, or negative sentiment around memecoins could lead to price declines. Always conduct your own research before investing.

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Final Thoughts: A Memecoin With Momentum

As we head into Q4 2024, Bonk remains one of the most watched tokens on Solana. Its combination of strong technicals, solid fundamentals, and vibrant community support positions it well for potential growth — especially if the broader bull run gains steam.

While caution is always advised in volatile markets, BONK’s performance so far indicates it's more than just a flash-in-the-pan meme project. For those eyeing exposure to high-potential altcoins with real ecosystem traction, Bonk deserves serious consideration.

Whether it will lead the next leg of the Solana bull run remains to be seen — but all signs point to it being a key player in the months ahead.