Bonk has surged by 11.75% over the past week. A shift in market sentiment sees Bonk trading volume surge by 108.39%
A shift in market sentiment sees BONK’s trading volume surge by 108.39%., similarly, was not left behind.
These gains on price charts have further been supported by increased demand. Over the past 24 hours, BONK’s trading volume surged by 108.39% to $161.3 million.Prior to these gains, BONK had been on a downward trajectory declining by 10.76% on monthly charts. Therefore, the current gains show signs of life, reviving optimism for the memecoin’s future prospects.According to AMBCrypto’s analysis, BONK has broken out from a descending trendline. Over the past week, the memecoin has experienced a strong upswing, suggesting a sustained uptrend.
A decline in liquidation for longs implied that investors were willing to pay a funding fee during market downturns to hold their positions. This showed investor confidence in BONK’s future potential.Finally, the memecoin’s OI-Weighted Funding Rate has been positive over the last two days suggesting a shift in market sentiment.
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