Bonk Price Prediction as Accumulation Continues at $0.000013 – Rally Incoming?
The Bonk price has dipped by a very slight 0.3% in the past 24 hours, moving to $0.00001399 as the wider crypto market holds its position today.
BONK has dropped by 6% in a week and is up by 3% in a fortnight, yet the meme token has also fallen by a more substantial 26% in the last 30 days.
On the other hand, it remains up by an impressive 955% in a year, making it one of the most high-performing tokens in the top 100 over this period.
And this momentum could continue over the coming weeks, particularly when whales continue to accumulate the coin.
As with most other coins right now, BONK’s indicators are currently in an indeterminate position, halfway between possible recovery and further losses.
Its relative strength index (purple) is particularly symptomatic of this, hovering at the 50 level, which indicates neither overbuying nor overselling and which could see either gains or losses.
A little more positively, BONK’s 30-day average (yellow) does continue to rise and remain well above its 200-day (blue), while its price is beyond both averages.
This suggests that the coin remains in an expansionary phase, and the more gains could be coming soon.
It’s also encouraging that the coin has bounced off its support level (green) in recent days, something which may imply that it has fallen as far as it’s likely to fall in the near term.
However, its trading volume does remain pretty low at $100 million, down from $500 million at the start of the month.
This would imply a loss of interest, yet it’s clear that some whales continue to accumulate the token.
The trader currently holds 189.67B $BONK($2.37M).
Address:https://t.co/a8AUcaL36F
— Lookonchain (@lookonchain) January 9, 2024
In fact, the whale documented above still appears to be
Read more on cryptonews.com
