Bonk, a fun token on Solana's network, got a big boost when it got added to Bithumb, a major exchange in South Korea. The token, which was trading at $0.00002532, went up by 7% in just one day. Experts think this increase might keep going up.

New Report on Bonk's Rise

Bithumb decided to support different pairs like BONK starting from May 16. They said they did this because lots of users asked for it. People can deposit Bonk on the Solana network. Also, Bithumb will give free tokens to everyone who trades "BONK" on their platform. This news caused a lot of people to start trading, showing how much exchanges can affect token prices.

Bonk's Recent Performance

Bonk's price stayed between $0.00002 and $0.000028 for around four weeks. A line on the graph showed that it had support at $0.00002, which helped stop it from dropping too much. But when it tried to go above $0.000028, it met resistance from sellers.

Current Status of Bonk

BONK's addition to Bithumb happened while Bitcoin's price was going up to $70,000. This means investors are interested in buying not just Bitcoin but also other coins, even ones like Bonk that can change in price quickly. Even though Bonk's price went back down a bit, it could go up again soon. Some signs show that investors might start selling soon, though. If the RSI goes below 50, it could mean more people are selling than buying.

What's Next for Bonk

There's a pattern called a golden cross that just formed for BONK. This happens when a short-term average (like the 20-day EMA) goes above a long-term average (like the 50-day EMA) on the chart. This could make more people want to buy Bonk, which would make its price go up more.