The BONK cryptocurrency has recently broken out of a descending wedge pattern, a bullish signal that suggests a potential surge in price. The meme coin market has been thriving, and this breakout could allow BONK to approach its previous all-time high. Open Interest (OI) has also increased by 24%, indicating renewed interest from traders who are preparing for a potential rally. Despite previous bearish sentiment, the rise in OI shows that traders are optimistic about BONK's potential. Technical indicators and the overall market momentum are also leaning bullish for BONK. However, the coin must first break through key resistance levels to continue its upward trajectory. Failure to do so could lead to consolidation and sideways trading.



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