The article spotlights the meme coin BONK, which has gained attention due to its recent 20% price surge and potential to change the digital currency landscape. If it surpasses $0.000041 in October, it will set a historic milestone, signaling the "start of the dog season" as noted by analysts.
Recent price movements of BONK show a potential trend reversal, gaining traction from both retail and institutional markets. The price increased by 8.59%, and over the past week, traded from $0.000001917 to nearly $0.000002395. Technical indicators show a rising wedge and a bullish crossover, suggesting continued upward momentum.
Key resistance levels include the 38.2% Fibonacci retracement at $0.000002265 and a further resistance level at the 50% Fibonacci retracement at $0.0000025. Analysts predict that breaking these levels could lead to a rise in price to $0.0000035, $0.0000048, or $0.0000070.
Despite the positive outlook, BONK faces potential setbacks such as a 1.07% intraday drop and signs of price rejection, which could suggest short-term volatility. The market will closely watch BONK in October to see if it continues to climb or encounters challenges.
