BONK Partners With Flipster to Launch Community-Driven Campaigns, Token Surges 7%

Flipster, a platform in the crypto derivatives market, has partnered with the meme coin community BONK to launch new community-driven campaigns.

Crypto derivatives platform Flipster has joined forces with the meme coin community BONK to launch new community-driven campaigns. As part of this partnership, a Launchpool event will be held, where participants can stake BONK tokens and trade to earn a share of a daily 6,000 USDT reward. Commencing on July 15 and concluding on July 20, 2024, the event will feature a multiplier system based on trading volume.

In addition to trading incentives, Flipster and BONK will collaborate on a meme contest, capitalizing on the vibrant meme culture within the crypto community. The contest boasts a total prize pool of 5,000 Flipster Bonus, to be distributed among 25 participants, with each winner earning 200 bonus points.

To participate, users must follow both BONK and Flipster on X, like and quote the official contest post with a custom meme, and include the hashtag #BONKOnFlipster in their post. Winners will be selected based on the popularity of their memes, as determined by reposts and comments. Ten participants will be randomly chosen to receive prizes.

Over the last 24 hours, BONK's market cap increased by 7%, reaching $2 billion. At press time, BONK/USD trades at $0.00002811, up 6.11% in the same period. The meme coin has faced a bearish trend following its peak at $0.00004474 on May 27, but recent bullish momentum might indicate a potential trend reversal.

If the momentum continues, analysts predict that BONK/USDT could aim for the $0.00003654 level. The Relative Strength Index (RSI) for BONK rose to 67.74, while the Chaikin Money Flow (CMF) surged, indicating increased capital inflow. However, according to Santiment data, the Weighted Sentiment around BONK is -0.49, with a negative reading indicating predominantly bearish social media discussions that could pose challenges in sustaining the current bullish trend.

Crypto analyst Alex Clay points out that BONK/USDT is accumulating inside an ascending triangle, indicating potential for further upside. Clay has price targets of $0.00007430, $0.00011270, and $0.00015150 for BONK, highlighting the coin's potential for significant growth if current trends continue.

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