- BONK has surged 4.61% over the past 24 hours.
- Buyers were dominating the market with a strong uptrend momentum at press time.
As a seasoned crypto investor with battle-scarred fingers from countless market swings, I must admit that the recent surge of BONK has caught my attention. With a 4.61% rise over the past 24 hours and a 33.20% jump over the last month, it’s hard not to be intrigued by this memecoin.
In the last day, memecoins have experienced substantial price increases, mirroring Bitcoin‘s [BTC] climb to a peak of $66,479.
As the cryptocurrency market shows some revitalization, meme coins like Bonk [BONK] aren’t missing out on the action either.
Currently, BONK is being exchanged at approximately 0.00002287 dollars. This represents a 4.61% rise in value from the previous day. Over the last week and month, the memecoin has shown significant growth, with a notable jump of 33.20% in the past month alone.
Will BONK continue to rise?
As reported by AMBCrypto’s examination, there was a favorable outlook towards BONK at the current moment. According to Market Prophit, its memecoin market sentiment stood at 0.0721, accompanied by a Buzz Score of 1.0553.
This suggested that the market sentiment was favorable.
The recent market trend provides additional evidence for this. Consequently, the meme coin experienced a substantial shift, managing to surpass its 200-day moving average.
This indicates a powerful upward trend, as buyers are dominating the market; this dominance is demonstrated by an increase in trading actions.
Furthermore, it’s worth noting that the trading volume for BONK has increased significantly by 82.58%, reaching a total of $251.76 million. Additionally, its market capitalization has grown by 8.49%, standing at a value of $1.69 billion.
Given the current market trends, it’s more probable that the memecoin will rebound from its 200 Exponential Moving Average (EMA) instead of falling below it. This means $0.00002086 is a solid foundation for Bonk, and as long as its price stays above this level, it’s likely to increase further.
To summarize, BONK’s Spot netflow has predominantly been flowing out of wallets and into exchanges during the last seven days. Currently, the netflow stands at approximately $-914,060, indicating a greater movement towards exchanges rather than deposits.
This means that investors were withdrawing their memecoin from exchanges.
Read Bonk’s [BONK] Price Prediction 2024–2025
Simply put, Bonk has been experiencing strong upward momentum and favorable sentiment of late.
Under the current market circumstances, the memecoin is expected to test its next resistance point at approximately 0.000025 USD. If it manages to breach this level, the coin could potentially reach 0.000030 USD.
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2024-10-16 05:43