Bonk Surges 26% Gains In 7 Days: Why Is It Outperforming Dogecoin, Shiba Inu?

Bonk (CRYPTO: BONK) has seen a 26% surge over the past week, prompting traders to anticipate a breakout.

If key resistance levels are cleared, many believe a strong bullish run could follow.

What Happened: Crypto trader CW notes that Bonk has broken out of a falling wedge pattern, a strong technical signal for an uptrend. With only two remaining sell walls, a clean breakout could confirm the start of a major rally.

Prominent trader Mayne sees Bonk as a leading indicator for meme coins, already up 70% after sweeping January 2024 lows.

While resistance remains, reclaiming it would confirm a bullish structure. However, if the market turns lower again, the next major support is significantly lower.