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The Bonk price surged 17% in the last 24 hours to trade at $0.00003818 as of 2.20 a.m. EST on trading volume that soared 19% to $2.59 billion.
Bonk saw solid performance in the last 24 hours, reaching its peak at $0.00004197 less than an hour ago. Its newest surge comes as only the latest one in the previous seven days. A series of surges caused Bonk to continuously move further and further up in a very recognizable pattern.
The meme coin would see a sharp and rapid surge meant to pierce any resistance it was trying to breach at the time, and by breaching it, it would turn it into a support. Once its surge loses its momentum, the price would fall back to the support, where it would gather strength to tackle the next challenge.
Using this method, BONK breached the resistances at $0.000025, $0.000030, $0.000035, and now it is trying to do the same at $0.000040. However, an hour ago, it made its third consecutive unsuccessful attempt to stay above the $0.000040 mark.
Bonk Price Prediction
Right now, the Bonk price is fluctuating, still not giving up on breaching the resistance at $0.000040, but often dropping to a support at $0.000038. This suggests that the overall trend is still bullish, but the token currently lacks the strength to overcome a major barrier.
Its Bollinger bands have seen a narrowing in the last 9 hours, which was followed by a slight widening and another narrowing. Right now, the bands are trying to put some distance between them again, and for all this time, the price was fluctuating between the upper band and the middle point between the two bands, sticking with the overall bullish sentiment.
The token’s Relative Strength Index (RSI) value behaved in a similar way, fluctuating between the overbought zone and the neutral area. Interestingly, traders never remained patient enough to wait for the RSI to hit the value at 70 — the start of the overbought zone. Instead, they would take profit once the RSI approached this value, but they also started buying again as soon as the RSI dropped to the price of 50.
This suggests that they might be weary of a larger sell-off if the RSI actually ventures into the overbought zone.
In the meantime, Bonk’s price performance may have also been influenced by Bitcoin’s price, which hit another ATH in the last 24 hours, this time finally climbing up beyond the $90k mark, and reaching the ATH at $93,434. At this point, BTC could achieve the value of $100k per coin before the year-long rally even begins.
If so, this would likely further encourage traders to buy more altcoins, meaning that BONK could see an even larger price surge in days and weeks to come. However, in the short term, the token has still to breach the $0.000040 barrier permanently, and it appears ready to make another attempt right now, at the time of writing.
Promising Alternative To Bonk
While Bonk may have reached its limit for the time being, the same cannot be said for a new meme coin called Flockerz (FLOCK), which is in presale and thus has all its potential upside ahead of it.
Analysts say it has massive potential thanks to its unique Vote-To-Earn (V2E) model.
Simply put, Flockerz created a way to incentivize its token holders to stick around and regularly participate in its governance process by giving them rewards whenever they vote and helping them make decisions that concern the entire project.
That way, it also helps ensure decentralization, as community members will keep coming back, rather than leaving all the decision-making in the hands of a small minority.
Plus, once you get your hands on some FLOCK tokens, you can stake them for massive staking rewards of 1,077% as of the time of writing. Then, as you earn more through voting, you can stake that too, and keep growing your FLOCK holdings in preparation for the big launch, which could send its price sky-high.
The prospect appealed to many investors already, which led the FLOCK ICO to raise over $1.75 million.
Crypto YouTuber ClayBro, who has over 131k subscribers, speculated that FLOCK could be a 20x crypto.
FLOCK tokens sell for $0.0060049. Buy before a price hike in less than 24 hours to lock in the best deal.
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