- BONK’s social volume increased and started trending on social media.
- FLOKI’s metrics also looked bullish.
As the market conditions changed, meme coins used the opportunity to push their values up.
Mem coins such as FLOKI experienced significant gains with over 10% growth. However, BONK stole the limelight with an astonishing surge of approximately 40% in value.
BONK surprises investors
Following Bitcoin‘s [BTC] fourth halving, the cryptocurrency market experienced a surge with prices rising. Notably, BONK stood out among other cryptocurrencies, recording a significant increase of approximately 40% within the previous 24 hours.
Based on information from CoinMarketCap, currently the meme coin is priced at approximately $0.00002145 and has a market value exceeding $1.4 billion.
The positive development was that BONK saw a significant increase in trading activity, with its volume more than doubling, paving the way for an upward market trend. Additionally, this meme coin gained popularity and generated buzz within the crypto community due to a noticeable rise in Social Volume.
According to AMBCrypto’s examination of Santiment’s findings, the mood surrounding the meme coin became more positive, suggesting a decrease in negative sentiment towards it over the past few days.
Based on our analysis of BONK’s daily chart, it seemed that the bull market could persist with even more gains. Remarkably, the Chaikin Money Flow (CMF) indicator showed a significant surge.
The Money Flow Index (MFI) for BONK surpassed the neutral threshold, indicating stronger buying activity. Additionally, the price of BONK rose above its 20-day Simple Moving Average (SMA), suggesting that the uptrend may continue.
After examining Hyblock Capital’s information, AMBCrypto identified potential milestones for BONK in the near future. We discovered that the meme coin was on an even course, aiming for around $0.0000232.
If we reach that point, the sale of assets (liquidation) will rise, potentially leading to a minor adjustment in BONK’s price. Conversely, surmounting this level could cause BONK to hit $0.000025.
FLOKI is also following the trend
In the past 24 hours, BONK experienced a significant gain of approximately 40%, causing FLOKI to follow suit and rise by more than 20%. At present, FLOKI is priced at $0.0001744 with a market capitalization exceeding $1.6 billion.
The meme coin’s metrics also looked pretty optimistic.
Realistic or not, here’s BONK market cap in BTC’s terms
The price of FLOKI rose, which caused an increase in its Open Interest. At the same time, its Funding Rate remained quite low. Normally, prices move in opposite directions to the Funding Rate; this discrepancy suggested that FLOKI’s upward trend may persist further.
Using simple terms, the MACD line in FLOKI’s chart signaled an impending bullish trend, while its Chaikin Money Flow (CMF) moved upward, suggesting a potential price rise for the meme coin in the near future.
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2024-04-21 17:11