Bonk Price Prediction: Gravity Catches Up With BONK As It Slumps 17%, But This New Meme Coin's Presale Suggests It Might Explode Like Pepe

Bonk Price Prediction: Gravity Catches Up With BONK As It Slumps 17%, But This New Meme Coin’s Presale Suggests It Might Explode Like Pepe

ByLockridge Okoth

Updated: 10 December 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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Bonk price dropped 17% in the last 24 hours to trade for $0.00001127 as of 11:15 a.m. EST, but trading volume soared 40%.

Gravity finally caught up with BONK during the late hours of the US session, as indicated by the red candlestick on the daily chart. It comes in the aftermath of BONK being overbought, with a cohort of traders cashing in to book profits after the hundredfold climb.

$bonk #bonk made the first ever long pullback after it started surging in June and hit 7000% gains https://t.co/oXxDO3qJl9 pic.twitter.com/DplFtsF215

— Prof.Noan.Ai 𓃵 (@CryptoNoan) December 10, 2023

Nevertheless, the upside potential remains alive for BONK price, seeing as the Relative Strength Index (RSI) has deflected away from the southbound move. Furthermore, the histograms of the Awesome Oscillator (AO) are showing large volumes of green bars. This shows that the bulls maintain a strong presence in the BONK market.

A re-entry by the bulls could see Bonk price overcome the resistance due to the upper band of the Bollinger indicator at $0.000011845. Further north, the price could breach the $0.00001348 range high, filling the market range, again.

In a highly bullish case, Bonk price may extend a neck high to clear the intra-day high of the November 9 trading session at $0.00001490 to record a higher local top.

To confirm the continuation of the trend, Bonk price must record a candlestick close above the upper band of the Bollinger indicator. Such a move would signal the likelihood of the price edging higher.

Converse Case

On the other hand, if more sellers continue pulling the trigger, Bonk price could extend the fall, first testing the 70.5% Fibonacci level at $0.00000956 or lower to the most critical Fibonacci level at $0.00000841.

An extended move below the 50% Fibonacci level of $0.0000644 would invalidate the current bullish outlook. This would set the tone for Bonk price to spiral further, solidifying the downtrend below the 23% Fibonacci at $0.0000325. Such a move would constitute a 70% drop below current levels.

Meanwhile, MK, a meme coin just like BONK, is making headlines in the meme coin space. It continues to cruise through key milestones in the presale as its listing draws near.

Promising Alternative To Bonk

MK is the powering token for the Meme Kombat ecosystem, bringing forth a stake-to-earn project where you can stake, play, and get rewards. When you buy MK token, you get entry into an innovative new gaming platform designed for gaming enthusiasts.

GM and Happy Weekend! pic.twitter.com/Civ8q6kssy

— Meme Kombat (@Meme_Kombat) December 9, 2023

MK tokens are selling for $0.235 in the current stage of the presale. This price tag will last for the next four days before another price increase to $0.246. This is a chance to get ahead of almost 5% price increase. So far, presale sales have reached $2.776 million, out of a target of $3.5million.

Your $MK is worth more!

Yes. You read that correctly. You can buy $MK now for $0.235🤩 pic.twitter.com/DAKBpbMqUB

— Meme Kombat (@Meme_Kombat) December 7, 2023

MK token holders can also generate passive income by staking their holdings on the staking dashboard. The dashboard went live early in November and has since received massive support.

📣 Major Update 📣

The Meme Kombat Staking Dashboard is officially live and ready to be used by you!

Take a break from Kombat and visit the staking dashboard here: https://t.co/nNFEYESjPs pic.twitter.com/yswl0esb4G

— Meme Kombat (@Meme_Kombat) November 9, 2023

Currently, investors are getting Annual Percentage Yields (APY) as high as 305%, with 12.9 million MK tokens already staked, constituting up to 73% of the entire token supply.