Why Is BONK’s Price Up by 50% Weekly?

TL;DR

• The popular meme coin skyrocketed in the past few days, gaining over 50% and shooting up to a monthly peak of over $0.000022 at one point.
• Although there are no clear announcements from the team that could have fueled this big surge, the crowd remains positive, and analysts believe more gains are on the horizon.

It was just a few weeks ago when BONK’s price struggled at $0.000012, and hope was fading rapidly. However, the tides turned in a spectacular manner in the next weeks, especially in the last few days, and BONK is now fighting with TRUMP for the spot of the fourth-largest meme coin by market cap.

There are no major announcements from the team that could be the actual reason behind this impressive price surge lately. However, the one that stands out the most (but is unlikely to be related to the price pump) is aimed at owners of the Gen1 Solana Mobile device. As it reads, the team urged users to claim tokens as all unclaimed ones will be returned to the DAO for “future incentives.”

https://twitter.com/bonk_inu/status/1940153749571531234?ref_src=twsrc%5Etfw” data-wpel-link=”external” target=”_blank

Some crypto analysts on X were quick to pick up the grand price move and predicted that “it’s only a matter of time” before BONK breaks a descending trendline and heads for a new all-time high.

Despite its recent price surge, though, the meme coin is more than 60% away from its ATH, which was tapped on November 20 at $0.00005825.

Although this sounds like a big task for BONK, other X users outlined several reasons that could propel such a massive price surge, including the growing token burns and the utilization of meme coin platform – bonk_fun.

https://twitter.com/jimmyhumania_/status/1941708646162878940?ref_src=twsrc%5Etfw” data-wpel-link=”external” target=”_blank