Bonk surges 21% in 24 hours: Is a rally to $0.00002 next?

• Bonk collected 21.22%and hit a 3 -week maximum of $ 0.0000174.
• The buyer’s volume overtook the seller’s volume by 167.31 billion tokens.

Bonk [BONK] He collected 21.22% by jumping from his recent DNA $ 0.000013 and at the time of printing increased to a local maximum of $ 0.0000175.

At the same time, MEMECOIN volume increased by 332% to $ 548 million, reflecting considerable demand.

Demand for bonk rises

After taking a step back on the market, the buyers returned and signaled the newly discovered demand. On July 3, Bonk recorded $ 1.61 trillion according to Coinalyze compared to $ 1.44 trillion on sale.

The same pattern was observed the previous day, with the purchase volume hit 1.21 trillion. As a result, Bonk recorded a positive purchase of purchase-sale of 167.31 billion chips, reflecting the aggressive demand on the spot.

Before the buyers entered, Bonk had four consecutive days of higher sales pressure, with investors selling more than they had accumulated.

Such a significant purchase activity reflects the newly discovered demand, while investors return to the drawing of fresh capital.

Derivatives are swinging into the pump

Ambcrypto’s view of derivative data showed that fresh capital was flowing into the market. According to Coinglass, Bonk’s open interest rate increased by 45.93% to $ 17.38 million, while the volume increased by 271.1% to $ 97.59 million.

The growing open interest together with the volume confirms increased participation in the futures market for new participants.

At the same time, MEMECoin’s long/short ratio increased to 1.057, indicating that investors are entering the market. The ratio above 1 means that most investors actively bet on prices to continue to grow.

What do the momentum indicators say?

Bonk experienced a significant increase when speculative buyers returned to the market. When the cryptocurrency market recovered, investors returned to take strategic positions, feared they would miss (Fomo).

As a result, MacD memecoin increased at -0,00000023 at the time of writing, signaled a strong upward.

At the same time, the Bonkův index of the relative strength (RSI) increased sharply to 60 years and lined into the bull territory. RSI at these levels suggests that buyers are currently in the position of dominance on the market.

If the current shopping momentum holds for permanent time, Bonk is likely to get $ 0.000018 and focus on a jump on $ 0.000020.

Conversely, if the buyer disappears and suffers from profits by the market, BONK will find support around $ 0.000015.