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The Bonk price plummeted 12% in the last 24 hours to trade at $0.00002223 as of 3.30 a.m. EST on trading volume that dropped 27% to $463.1 million.
Bonk Price Prediction
The last several days have seen BONK struggle against a major resistance at $0.000026, only for its price to end up rejected and pushed down to $0.00002050 yesterday afternoon. Since then, the project saw a minor recovery to $0.000023 but was once again rejected which brought it to its current price at $0.000022.
Now, technical indicators suggest that the price will likely continue to decrease for a while longer, possibly going back to $0.000020. BONK’s Bollinger bands have seen a significant narrowing in the last day, but the price has dropped from the middle point between the two bands to the lower one, and is now pushing it down.
This is a strong bearish signal and it suggests that buying is not yet recommended, so anyone who might be thinking about buying the dip might want to wait a bit longer for BONK to find its bottom.
Another bearish signal came from the project’s Relative Strength Index (RSI) value. The RSI value shows whether the traders are buying or selling, and therefore it lets others determine whether the market is bullish or bearish. In the past 18 hours or so, the RSI was in the neutral zone, but closer to the overbought zone, as traders were buying the token at a low price.
However, the new bearish wave caused the traders to start selling the meme coin, and the RSI spiraled down to the value of 36.15, heading straight for the border between the neutral and oversold zones.
While there is still room for BONK to drop further, this is actually a positive signal for the near future, as traders typically start buying once the RSI reaches the value of 30. In other words, BONK is likely to bounce back up, just not yet, and traders need to be patient and wait for the right moment to start buying the dip.
Promising Alternative To Bonk
Investors looking for new projects with the potential to replicate Bonk’s meteoric rise might consider Memebet Token (MEMEBET), which is the first web and Telegram gaming platform to allow wagering with meme coins.
The project offers access to thousands of games, but unlike other platforms of this type, it lets users play the games and use their meme coins within them. This is a unique new approach and it grants the entire meme coin sector a new utility, not to mention that it promises rewards, airdrops, and other benefits for the players as well.
Memebet Token is also expected to see excellent performance post-launch, with experts such as the crypto YouTuber ClayBro, with 130k subscribers, speculating that it has 130x potential.
For the moment, the project remains in its presale, selling the MEMEBET token for only $0.0256.
Those interested to join investors who have pumped over $358k into the project should do so before a price hike in less than 4 days. You can buy it with ETH, USDT, BNB, MATIC, or credit/debit cards.
Visit MEMEBET Token on the official website.
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