Solana's Layer-2 Presale Project, BONK, surges by 3% as enthusiastic investors snap up the parabolic presale, appreciating its staggering 121% Staking Annual Percentage Yield.
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Currently, the price of Bonk (BONK) has rocketed 3% in the past 24 hours, trading at $0.00001712 as of 12:00 a.m. EST, marking a sharp decline in trading volume to $136 million, down by 6%.
Bullish Breakout Hints for BONK After Months of Pressure and Consolidation
The technical landscape of BONK/USDT shows promising signs of a potential bullish breakout following a prolonged period of bearish trends and consolidation.
In the past, Bonk experienced a drastic downward correction starting in early January 2025, leading to the formation of a well-defined bearish channel with prices plummeting by over 90% from previous highs. Recently, the downtrend began to lose steam as Bonk entered a lengthy consolidation phase, with the price action flattening out and forming a base around the $0.00000130-$0.00000140 zone.
Key Developments for BONK
A significant development took place towards the end of April, as Bonk experienced a bullish reversal, supported by a shift in market structure and a break above short-term resistance. This move was accompanied by a fair value gap fill and a candle liquidity grab, which often paves the way for stronger moves in the opposite direction.
Potential 75% Surge for BONK
Currently, Bonk is trading at $0.00001712, showing signs of accumulation. According to technical analysis, Bonk could be gearing up for a breakout towards the $0.00003000 level, representing a potential 75% gain from the current price if the bullish momentum continues. A move above recent local highs could strengthen buying interest, confirming the breakout, and the RSI continues to trend upward, suggesting more upside potential. However, a failure to maintain the $0.00001600 support could lead to a pullback and a test of the previous consolidation range.
Though market-wide sentiment plays a crucial role in whether this trend will carry on, the current technical indicators suggest that bulls are regaining control.
Solaxy: The New Kid on the Block
With crypto traders eyeing a possible Bonk surge, attention has now shifted to a new Solana-based project called Solaxy (SOLX), which has already raised over $33.1 million during its presale. As Solana was initially built as a faster and more cost-effective alternative to Ethereum, its swelling popularity has led to increased network congestion, causing users to report delayed or failed transactions, raising concerns about scalability and potential future outages.
In response, Solaxy is positioning itself as a next-gen solution to Solana's traffic issues by integrating off-chain transaction processing, similar to Ethereum's layer-2 model, aiming to ease pressure on the main network. By bundling and verifying transactions off-chain before submitting them to Solana's mainnet, Solaxy aims to significantly enhance overall efficiency.
Solaxy continues to garner high investor interest due to its unique, cross-chain utility, bridging the deep liquidity and DeFi ecosystem of Ethereum with Solana's high-speed, low-cost performance.
Get Ready for Returns with Solaxy
Crypto YouTube channel 99Bitcoins, with 725k subscribers, has labeled Solaxy as one of the most promising new tokens on the market, predicting it could potentially reach 100x gains upon launch. Additionally, Solaxy offers a staking program with a 121% APY to incentivize early adoption and draw in yield-seeking crypto investors.
Solaxy is currently available in its presale phase, with purchases accepted through BNB, ETH, USDT, or even bank card on the official Solaxy website. The project has also integrated with Best Wallet, enabling users to manage SOLX tokens seamlessly within the app. However, time is limited, with around 9 hours left before the next price increase.
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Extra Info:
Bonk Price Analytics:- Bonk (BONK) recently defended the 0.618 Fibonacci level at $0.00001378[1], rebounding to ~$0.00001620. To confirm a bullish resumption, a breakout above $0.00001880–$0.00001950 is required, targeting $0.00002175 (April high) and $0.000024–0.000026 (Fibonacci extensions)[4][5]. Sustained close above $0.00002175 could unlock a 75% gain from the current levels of $0.000016–0.000020 to the $0.000027–0.000028 range, although this is not explicitly stated in the article.
Further Analysis:- Bollinger Bands on 4H charts suggest a volatility squeeze, with a breakout above the upper band ($0.00001734 basis) likely triggering directional momentum[2].- MACD displays green histogram bars and upward-curving signal lines, confirming bullish divergence[2][4].- Wave analysis suggests completion of a corrective wave (iv) and early wave (v) progression, targeting $0.000022–0.000026[4].
Risks:- Failure to hold $0.00001380 support[2] could invalidate the setup, leading to consolidation between $0.00001380–0.00001800. Present analysis favors a bullish bias contingent on maintaining above Fibonacci midpoints[1][5].
- In the current market, the yield for staking Solaxy (SOLX) could reach 121%, making it an attractive investment option for yield-seeking crypto investors who are following the advice of popular YouTube channel 99Bitcoins.
- On TradingView, Bonk (BONK) is trading at $0.00001712, with signs of accumulation, suggesting a potential bullish breakout towards $0.00003000 – a 75% increase – if the bullish momentum continues.
- As Solana's network congestion issues persist, the emergence of Solaxy, a Solana-based project intended to enhance overall efficiency through off-chain transaction processing, highlights the potential technology advancements shaping the future of cryptocurrency lifestyle and adoption.
