Bonk Surges 20% in Seven Days Amid Rising Popularity of Solana’s New Meme Coin SEAL, Approaching $2M

Bonk (BONK), a meme coin, has surged 20% over the past week, now trading at approximately $0.0000257. 

Its rise coincides with Sealana (SEAL), a new Solana-based meme coin, nearing the $2 million mark in its presale phase. Despite a 13% pullback last Sunday, Bonk’s overall weekly gain remains solid. Technical analysis suggests bullish momentum, with BONK surpassing its 50-day EMA and forming a potential bull flag pattern. However, trading volumes for BONK have dipped slightly, indicating a potential slowdown in buying interest. 

Nonetheless, the meme coin market is witnessing a resurgence, led by heavyweights like Dogecoin and Shiba Inu, alongside newer tokens like Sealana, attracting endorsements from notable crypto influencers like ClayBro.

Clever Robot News Desk 22^nd May 2024