BONK rallies 10% to outperform other major cryptos; check forecast

Key takeaways

  • BONK is the best performer among the top 50 cryptocurrencies by market cap.
  • The memecoin could rally above $0.000032 if market conditions persist.

BONK surges 10%, outperforms other memes

BONK, the native token of the Bonk memecoin, is the best performer among the top 50 cryptocurrencies by market cap. The token added 10% to its value in the last 24 hours and now trades at $0.00002326 per coin.

The token’s positive performance is primarily driven by the surge in activity on LetsBonk, a recently developed token launchpad. For months, Pump.fun dominated the Solana token launchpad space. However, the story has changed as Pump.fun lost market share to LetsBonk, which some people call Bonkfun. As of this writing, LetsBonk now holds 55% of the total launchpad market share.

BONK targets $0.00003265, with strong support at $0.00002062

The BONK/USD 4H chart is extremely bullish thanks to the token’s ongoing rally. The technical indicators suggest further upward movement. The pair is currently efficient, suggesting that BONK has swept liquidity to the downside in anticipation of an upward rally.

Following the 46% surge last week with a wedge pattern breakout, BONK’s bullish start this week targets the highest price in May. A daily close above the $0.00002218 could see BONK target the $0.00002581 level, the inception point of the falling wedge pattern.

In the event of an extended rally, BONK could test the $0.00003265 level for the first time since January 2025. 

BONK/USD 4H chart

The RSI of 81 suggests that BONK is currently in the overbought region, while the MACD lines are firmly in the positive zone, suggesting a buying pressure. A rising trend in the green histogram bars indicates increasing uptrend momentum.

However, if BONK fails to hold the support level above $0.00002218, it could retest the 50% Fibonacci level at $0.00001734 in the coming days.

The post BONK rallies 10% to outperform other major cryptos; check forecast appeared first on CoinJournal.

SUSHI price turns bullish as SushiSwap team teases major reveal

  • SushiSwap has hinted at a massive announcement coming this week.
  • The altcoin shows bullish signals at a crucial support barrier.
  • Traders now target the key resistance zone at $0.79- a 30% surge.

Meme coins dominated financial trends with impressive rallies on Monday as Elon Musk launched a pro-Bitcoin political party for Americans.

Meanwhile, the SushiSwap team supercharged SUSHI’s rebound with a cryptic post on X, hinting at a massive reveal in the next few days.

SushiSwap X post

SushiSwap is a DEX that runs on multiple blockchains as an AMM (automated market maker).

It enables users to swap assets and offer liquidity without traditional order books.

Despite the scarce details, the upcoming announcement stirred the crypto community.

While enthusiasts contemplated what the message was about, analysts and traders shifted to the SUSHI price chart.

The altcoin’s current price of $0.6058 places it within the dependable support zone at $0.57 – $0.60.

Buyers have aggressively joined here to catalyze significant uptrends.

A confirmation might send SUSHI’s price to the crucial resistance zone at $0.79.

That would mean an approximately 30% surge from the meme token’s current price.

What to anticipate from SushiSwap?

While the team didn’t disclose the exact nature of the upcoming announcement, SUSHI’s price reaction triggered various speculations.

Enthusiasts could be bracing for strategic collaborations, protocol upgrades, new product launches, or governance overhaul.

Some suspect the project might introduce a new utility functionality for the native token or more integrations with decentralized finance protocols.

Indeed, the DeFi sector has seen increased traction lately, with topics like RWA tokenization, L2 expansions, and staking gaining traction.

Veteran crypto projects like SushiSwap are likely bracing to leverage this growth.

As the team prepares this week’s key announcement, traders are looking to capitalize on the potential momentum.

Coinglass data confirms the enthusiasm. SushiSwap’s volume has rallied 40% to $36.94 million.

Also, the Open Interest is at $30 after a 6% jump. That signals renewed interest in the project.

How could these developments influence SUSHI’s price actions in the near term?

SUSHI price outlook: recovery impending?

The DEX’s governance token displayed bullishness following the announcement, signaling impending rebounds.

SUSHI hovers at a crucial region. It trades at $0.6058, with a technical setup supporting upside continuation.

The alt trades above the foothold at $057 – $0.60, a crucial region that previously attracted significant buying.

Sushi Price Chart

Source – CoinMarketCap

SUSHI bulls are now targeting the nearest resistance at $0.66.

A decisive close beyond this mark could fuel continued upswings.

Overcoming $0.6925 would open the gates to $0.7470, and a potential extension to $0.7925.

That would mean a 30% gain from SUSHI’s current market price.

However, failure to reclaim $0.66 might delay the possible rally.

A sudden selling pressure that plunges SUSHI beneath $0.57 could trigger significant dips or sideways price actions.

Further, broad market sentiments will be vital in shaping SushiSwap’s trajectory.

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