Bonk Surges 5% In A Day, Outpacing Dogecoin, Shiba Inu: What's Driving The Rally?

Bonk BONK/USD is up 5% on Wednesday, with traders anticipating the rally to continue further.

What Happened: Crypto trader Cold Blooded Shiller pointed out that BONK has experienced a massive sweep of the lows, testing a historically significant level.

He emphasized that stability and confirmation are needed before confidence can build for a larger move.

Analyst Crypto Chase stated that he is still holding 1% of his BONK position, watching how it interacts with the monthly support level that previously triggered a strong rally.

This is its first retest in over a year, and he expects the meme coin to bounce towards more than $0.02 over time.

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Also Read: Why Are Dogecoin, Shiba Inu Down Over 15% In The Past Week?

Why It Matters: Bonk's price movement coincides with its recent acquisition of Exchange Art Marketplace, a major platform in the digital art sector.

This strategic move could expand BONK's real-world utility, strengthen its presence within Solana's creator economy and drive long-term value growth as use cases increase.

Prominent trader Unipcs highlighted Bonk's strength as one of the top-performing tokens in the top 100.

Another trader believes it has the potential to join Dogecoin and Pepe in the $100 billion club at the market cycle's peak.

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