Bonk Price Surges 11% to Hit New ATH, Can It Sustain the Momentum?

The Bonk price surged over 11% in the last 24 hours to trade at $0.00005654 as of 11:22 p.m. EST as traders rush to buy the Solana meme coin.

The price of Bonk (BONK) surged over 11% in the last 24 hours to trade at $0.00005654 as of 11:22 p.m. EST as traders rush to buy the Solana meme coin.

With the recent jump in the BONK price, the crypto also established a new all-time high (ATH) at $0.00005768 in the last 24 hours. Its price has since pulled back more than 2% to trade at its current level.

Bonk Price Challenging A Major Resistance

4-hour chart for BONK/USD (Source: GeckoTerminal)

The Bonk price has been in a positive sequence over the last few days, and has printed a series of higher highs and higher lows on its 4-hour chart during this period. This has resulted in the formation of an ascending price channel. If this trend continues, the meme coin might soon flip the $0.00005648 resistance into support and possibly rise to as high as $0.00006833.

On the other hand, a rejection from the $0.00005648 barrier in the next 12 hours could bring an end to the crypto’s rally. In this alternative scenario, traders will likely start to take profit. With this potential sell pressure entering the BONK’s charts, the crypto could stand the risk of testing the $0.00004607 support and possibly even drop to the next technical crutch at $0.00003798.

Bulls Might Push the Bonk Price Higher In The Next 24 Hours

From a technical perspective, indicators on BONK’s 4-hour chart suggest the meme coin’s price might keep climbing in the next 24 hours. In addition to the Relative Strength Index (RSI) showing buyers currently have the upper hand over sellers, the Moving Average Convergence Divergence (MACD) is also on the verge of triggering a major bullish flag.

RSI readings have oscillated between the high 50s and high 60s. The latest value above 50 shows that bulls have a tight grip on the Bonk price, while the positive slope of the RSI line suggests buyers could decide to push BONK up higher through the course of the next trading day if they choose to capitalize on their advantage.

In recent hours, the MACD line has also started to rise towards the MACD Signal line to chip away at the margin between the two lines. A cross between these two momentum indicators could be interpreted as a sign that the Bonk price has entered a short-term bullish phase, which might be followed by an increase in the Bonk price.

While BONK traders celebrate a new ATH and try to keep the crypto’s momentum going, the presale for meme coin rival Crypto All-Stars (STARS) is charging towards the $5 million mark.

A Single Platform Offering Unprecedented Staking Rewards For Meme Coins

Crypto All-Stars (STARS) is a meme coin project with a major competitive advantage due to its unmatched utility. Instead of focusing only on its native STARS token, Crypto All-Stars offers staking options for a multitude of meme coins.

Included in the list of tokens that can be staked through the project’s MemeVault platform are DOGE, SHIB, PEPECOIN, FLOKI, BRETT, MOG, LADYS, TOSHI, COQ, BONK, and TURBO. More big name meme coins will be added to the platform in coming months.

By simply staking any of these tokens on the MemeVault, investors will start to earn crypto rewards paid out in STARS. STARS can also be put to work for passive rewards, with a 392% staking APY being offered to anyone who buys and stakes the project’s token now.

Staking STARS might be the best way to capitalize on the project’s speculative growth potential, with many experts and analysts predicting a surge in the meme coin’s price after its launch.

Among those who are bullish on STARS is prominent analyst and crypto YouTuber ClayBro, who told his over 130K subscribers that STARS has the potential for massive gains.

Investors FOMO Buy STARS During Its Ongoing Presale

Crypto All-Stars has raised more than $4.5 million throughout its ICO so far, signaling strong investor confidence in the project’s future. With the high staking rewards on offer and its speculative potential, it’s easy to see why investors and even whales are rushing to buy STARS at this early stage.

To get in on this ground level of the project, investors can utilize the simple buy widget embedded on the Crypto All-Stars website.

STARS is currently selling for $0.0015869 and