Bonk Price Prediction as BONK Makes a 30% Comeback – Can It Lead the Meme Coin Rally?
BONK has dropped to $0.00001269 today, with the Bonk price suffering a 9% loss as the crypto market falls by 1% in the past 24 hours.
Despite its fall, BONK has actually recovered by 30% since succumbing to a one-month low of $0.00000973 on January 8, with the coin still up by a very impressive 900% in the past year.
And given its status as the most hyped and viral meme token of the moment, it could easily see renewed gains in the coming days and weeks, particularly as the wider market becomes more bullish.
Given its 9% loss, BONK’s chart is showing plenty of weakness right now, with more losses probable in the near term.
For one, its RSI (purple) has just fallen below the 50 level, indicating that its market is now leaning more towards selling off than buying up.
At the same time, its 30-day average (yellow) has flattened out, implying that it may begin dropping towards the 200-day average (blue) and bringing the coin’s price with it.
The key thing to watch out for now is BONK’s support level (green), which will encounter a test as the token’s price sinks towards $0.0000120.
If it drops decisively below this level, it could trigger further selling, hurting the Bonk price even further.
On the other hand, if the coin’s support level holds up, it could begin consolidating on the fact that it has recovered since its recent December 8 low.
And while its trading volume is now relatively low, at $100 million, this is still comfortably higher than the low levels (e.g. $20 – $30 million) it saw as recently as November.
This smart trader who made ~$6.9M on $BONK spent 386 $SOL($40K) to buy 3.29B $BONK again today!
He accumulated 371.4B $BONK in 9 months at a cost of only 6,998 $SOL($276K) and sold half of the $BONK during the $BONK surge
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