Bonk Price Prediction as BONK Bounces 36% From Recent Bottom – New Highs Incoming?
The Bonk price has dipped by 0.5% today, dropping to $0.00001311 amid a slight 1.5% gain for the crypto market in the past 24 hours.
Today’s slide represents a minor take-profit correction for BONK, which has actually gained by 10% in a week and by 29% in the past fortnight.
The popular Solana-based meme token has also risen by 1,350% in the last 12 months, making it one of the best-performing cryptocurrencies in the top 200.
And with the coin having bounced by 36% since falling below $0.000010 earlier this month, more gains could be incoming.
BONK has recovered encouragingly over the past week, coming back from roughly two weeks of relative decline.
Its RSI (purple) recently reached 60, and while it did dip back to 50 over the weekend, it has sneaked up again in the past day.
This indicates rising momentum and buying pressure, something also suggested by BONK’s 30-day moving average (yellow), which has resumed rising above the 200-day average (blue).
One other positive indicators is the coin’s 24-hour trading volume, which has climbed from $25 million at the start of the month to $50 million, as of writing.
This is still low compared to more major tokens, yet it shows that some interest is returning to BONK, which saw volume reach $250 million again in the middle of February.
In other words, there are reasons to be positive that BONK can continue enjoy gains in the short- and medium-term, even if it doesn’t quite have the momentum it had in November and December.
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