Bonk Price Prediction as BONK Falls 33% From Peak – Time to Sell?
The Bonk price has dived by 11% in the past 24 hours, with the coin’s drop to $0.00001918 also representing a 33% decline from its record high of $0.00003416.
BONK set this ATH on Friday, meaning that it potentially retains some of the wider momentum that carried it to this peak, even if it seems that traders are taking profits at the moment.
However, its status as a meme token means that a return to growth is never as assured as it is with an alt that possesses strong fundamentals, so BONK could languish for a while yet before whales pick it up again.
It’s possible that BONK could suffer a sustained loss before it begins growing again, given that its indicators are firmly in overbought territory.
Its RSI (purple) is falling steeply, having risen close to 90 in the past couple of weeks, a level which ordinarily indicates overbuying.
As for its 30-day average (yellow), it has been rising strongly for the past couple of weeks now, yet is now high enough in relation to the 200-day average (blue) that it may begin to flatten out and drop in the next few days.
BONK’s near future all depends on whether its support level (green) can prevent a sharp fall back to the levels it recorded at the end of November.
If it can prevent a drop below, say, $0.000010, then it should recover more quickly, although a drop below this level may indicate that traders have already abandoned the token.
Solana Saga Sold For 10x the Price on eBay Amid BONK Craze.
Solana Saga, a phone linked to the cryptocurrency BONK, is in high demand. Despite initial struggles in sales, it sold out globally as people discovered it came with 30 million BONK tokens.
Now, due to the popularity…
— Anthony Esch (@AnthonyEsch) December 18, 2023
A big part of the reason for BONK’s
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