Bonk Price Prediction as BONK Bounces 7% – New Rally Starting?

cryptonews.com:

The Bonk price has risen by 7% today, lifting to $0.00001274 as the cryptocurrency market enjoys a 5% gain in the past 24 hours.

This move puts BONK at a 26% increase in a week and, despite losing 13.5% in a month, a 1,400% gain in the past year.

And what’s important about today’s bounce is that it shows how the market remains interested in BONK, which had seem to be on something of a long-term decline prior to the market’s recent rally.

This could mean that the Solana-based meme coin is about to begin a new rally in the coming days and weeks, particularly as the market becomes more bullish.

BONK’s indicators have improved since this week’s market-wide rally, although they don’t look entirely convincing.

The meme coin’s relative strength index (purple) had risen back up to 60 in the past couple of days, but it has actually dipped a little this morning, suggesting that it’s having trouble accumulating any more momentum.

Similarly, BONK’s 30-day average (yellow) is rising again in relation to its 200-day (blue), yet its ascent is very shallow, signalling that its current buying pressure isn’t particularly strong.

It’s also worth pointing out that, while its 24-hour trading volume has risen to about $120 million today, this is still a long way off from the levels it enjoyed in early January (c. $500 million) and in mid-December (c. $1.5 billion).

As such, it would be rash to conclude that BONK has definitely made a full comeback, with numerous less speculative cryptocurrencies (e.g. Ethereum, Solana, Render, Sei, Helium) posting bigger 24-hour gains today.

It’s also telling that, even with recent market-wide jumps, there haven’t been any big whale transfers involving BONK, suggesting that former levels of demand haven’t quite