Bonk Price Prediction as BONK Surges 50% in 24 Hours – $1 BONK Incoming?
Meme coin BONK has surged 50% in the last 24 hours and nearly 75% in the last week to hit a new two-and-a-half-month high of $0.00002116, according to data from CoinGecko.
Although the token is now back within the range it was on December 22 last year, it’s still nearly 40% short of its all-time high of $0.00003416, set on December 15, 2023.
In general, meme coins today are loosely following the price movements of crypto’s two market leaders, Bitcoin (BTC) and Ethereum (ETH).
Bitcoin added 20% overnight to trade at $62,528.47 as its bulls chase the coin’s former all time high of about $69k, last set in November 2021. Ethereum added about 15% and currently changes hands at $3,471.20.
Dog-related meme coins are some of the biggest climbers today, though.
Leading dog meme coin Dogecoin (DOGE) rose 50% to $0.1281, while its closest contender, Shiba Inu, rose 41% to $0.00001362.
BONK may be the third largest meme coin by market capitalization, but two lower market cap meme coins posted loftier rallies: Dogwifhat (WIF) blew up 137% to $0.8074, while PEPE mushroomed 147.0% to $0.052897.
A quick look at BONK’s chart suggests this current rally may lose steam pretty quickly. On 5-day analysis, cup-and-handle patterns have stopped appearing in BONK’s candles, which suggests the bull cycle might be winding down.
However, zooming out to three months, the candles suggest BONK may have just reentered a comfortable support level.
There is still further potential upside to its price through Bitcoin’s halving narrative.
In mid-April, Bitcoin’s new supply will be cut down by half in a quadrennial event known as the “halving” which analysts have said historically leads to supply squeezes where the price goes higher.
When Bitcoin is rallying, you can
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