Bonk Price Prediction as BONK Skyrockets 30% in 24 Hours – Can it Overtake Shiba?
The Bonk price has surged by 30% in the past 24 hours, rocketing to $0.00001327 as the wider market prepares for the SEC to approve spot Bitcoin ETFs tomorrow.
BONK is now down by 10% in the past week and by 27% in the past fortnight, yet today’s ascent also means it has gained by 29.5% in the last 30 days.
This medium-term momentum is likely to continue into the coming days and weeks, particularly if the SEC does indeed approve one or more Bitcoin ETFs tomorrow.
And with crypto potentially entering a new bull market, BONK could benefit disproportionately, even seeing higher percentage gains than Shiba Inu.
BONK’s chart shows that, after a noticeable dip, the meme token has begun rallying and gathering momentum again.
Indeed, its RSI (purple) has risen from 40 a couple of days ago to 50 today, and it continues to point upwards, suggesting that more gains are coming.
It’s also encouraging that the coin’s 30-day average (yellow) has also resumed climbing, after flattening out over several days.
Its 24-hour trading volume has also seen a sudden increase, moving from around $90 million yesterday to $350 million as of writing.
And such volumes are likely to increase in the next few hours and days, with data showing that whales have been accumulating BONK over over the past day or so.
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 for 50,139 $SOL($5.2M).https://t.co/pOFRD2ndI8 pic.twitter.com/lkgGm13G0e
— Lookonchain (@lookonchain) January 9, 2024
As such, BONK could move further very soon, especially if the SEC does indeed approve one or more Bitcoin ETFs.
But some
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