Bonk Price Prediction as Millionaire Trader TheCryptoDog Says BONK is About to Rally – Time to Buy?
The Bonk price has risen by almost 1% today, reaching $0.00003187 as the wider crypto market drops by 0.5% in the past 24 hours.
BONK is now up by 31% in a week and by 54% in a month, with the Solana-based meme token also up by a whopping 7,900% in a year.
And these gains come at a time when prominent trader TheCryptoDog has suggested that attention is turning to BONK, presaging a possible rally in the near future.
Bonk is showing some signs of a minor correction after the surging of the past couple of days, with its indicators reflecting a dip in momentum.
In particular, its RSI (purple) has declined from 85 on Sunday/Monday almost 50 today, with the coin having plenty of room to slip further before becoming decidedly oversold.
Having said that, its other indicators don’t seem too bad, with its 30-day average (orange) still rising steadily beyond the 200-day average (blue), even if it isn’t rising quite as steeply today.
What’s particularly positive is that BONK’s volume remains high at just over $800 million, up from $180 million only a few days ago.
Also bullish are BONK’s resistance (red) and support (green) levels, which are both rising in parallel, suggesting that the coin will trade within a consistently rising band.
Much of the coin’s increased volume has come from renewed interest from whales, as recent data indicates.
A whale is selling 1.7M $WIF($4.4M) at a loss to buy $tremp and $BONK after the $WIF price dropped.
Which caused the price of $tremp and $BONK to increase.
The whale spent 25,682 $SOL($5M) to buy 1.7M $WIF at $2.94 on Mar 17.
After the $WIF price dropped, he started selling… pic.twitter.com/Ad8mdvLc50
— Lookonchain (@lookonchain) May 19, 2024
Such interest could continue for a while yet, with the wider market
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