Bonk Price Prediction as Trading Volume Shoots Past $50 Million – BONK Making a Return?
BONK has gained by a modest 0.5% in the past 24 hours, with the Bonk price reaching $0.00001171 as the crypto market falls fractionally today.
BONK has now dropped by 10% in a week and by 5% in a fortnight, although the popular meme coin is still up by 3% and by a whopping 1,400% in the past year.
Despite recent missteps, Bonk’s trading volume has crept beyond $50 million today, after a dip over the weekend.
Yet the coin will need to gain more momentum if it wants to stage a proper comeback, with this volume still way below levels it recorded back in January and December.
Notably, BONK has fallen by 2% in the past hour, putting its chart and indicators in a weakened – and unpromising – position.
Its relative strength index (purple) has slid from around 48 to 45 this morning, and looks like it could sink lower, given how much it has been struggling for form recently.
Likewise, the coin’s 30-day moving average (yellow) is declining very slightly after looking like it might be regathering some impetus last week.
Together, these wobbles today would point towards further incoming drops in the near term, with BONK’s current price currently looking like it may test its support level (green).
If it dives below 0.0000110 it could lose even more strength, with traders cutting losses and driving it down further.
BONKUSDT
Buy BONK when the price dips to $0.00001 pic.twitter.com/V46ZVi195N
— DANIEL CHIDERA UKPABI (@ChideraUkpabi) February 22, 2024
What’s particularly disturbing about BONK is that, if you look at its charts, its rallies (and volume spikes) since mid-December have grown progressively slighter.
This is a bad sign because it suggests that the market is becoming increasingly less interested in BONK, which has found it challenging to
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