Bonk Price Prediction as BONK Hits All Time High – $1 BONK Incoming?
The Bonk price has hit a new all-time high today of $0.00003563, with the meme token up by 32% in the past 24 hours as the market continues to rally.
BONK has actually slipped a little since reaching its ATH a couple of hours ago, yet at $0.00003229 it remains up by an impressive 177% in a week and by 209% in the past month.
And with the alt also gaining by 5,000% in a year, it’s clear that it currently has plenty of short- and long-term momentum.
It could even continue rising in the next few weeks, with the increasingly bullish market helping to push it to new heights.
BONK has some massive momentum right now, yet it’s also entirely arguable that it should correct downwards soon, at least according to its indicators.
Most notably, its relative strength index (purple) has almost hit 90 this morning, which is definitely (heavily) overbought territory.
At the same time, its current price has surged beyond its 30-day average (yellow), which in turn is also racing rapidly beyond its 200-day average (blue).
These are both signs of expansion, yet they can’t continue indefinitely, especially when the RSI is at 90.
Still, BONK’s trading volume has shot up to $1 billion today, indicating the kind of interest the meme token hasn’t seen since November and December, when it set its previous all-time high.
It’s clear that it has rallied because various whales began buying up the token again, as revealed by recent transfer data.
Today the price of $BONK has increased by more than 50%!
A SmartMoney accumulated 98B $BONK($1.54M) from #Binance again before the price increased.
He currently holds 319.44B $BONK($7M), with a profit of $2.9M.https://t.co/1oXGa1QlKp pic.twitter.com/TXYw2H07yz
— Lookonchain (@lookonchain) February 29, 2024
Some traders may
Read more on cryptonews.com
