Bonk Price Prediction: Analysts Warn Of BONK Crash As Savvy Investors Scour Presales Like These For The Next Best Crypto To Buy Now

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Bonk price is down 11% in the last 24 hours to trade for $0.0000211 as of 1:25 a.m. EST time, with trading volume slumping 65%.

After recording up to 1,200% in gains during the past month, some traders are warning of a BONK crash. The first red flag was Bitcoin price showing weakness after BTC’s surge kickstarted meme coin fever in the first place.

📊MAJOR TRADING ANALYSIS STARTING FROM THE NEW YEAR
The lifetime subscription of #Elites🔰 'll remain at $8 until the end of the year
Join here:https://t.co/i5fScvH2eW #Bitcoin dropped below $42K
Meme coins/hyped tokens might drop as well in coming days $BONK $SATS $BOB $RATS… https://t.co/Xg8nwJwjge

— Honey (@Honeyxgpt) December 17, 2023

A trader who predicted the top of the 2021 Bitcoin bull market, Pentoshi, says BONK will plunge 50% within 4 to 6 weeks.

https://twitter.com/Pentosh1/status/1735692395402944796

Other experts anticipating a drop in the Bonk price include Michaël van de Poppe.

“The bull market is barely underway and BONK is doing a 200x,” he tweeted. “In the meantime, SATS, RATS, and similar tokens are following BONK in their footsteps. Mental, but good signs that the market sentiment has shifted. Does it mean you should buy these? I wouldn’t at this point.”

Nevertheless, social dominance and volume, which indicates the number of mentions of the token across crypto-related social media are soaring. According to Santiment, this could signal an imminent trend reversal.

The behavior analytics tool likened the buzz around BONK to what DOGE displayed in 2021. It added, “If longing, be cautious of too much crowd FOMO.”

🤕 The hottest #memecoin on the block, #BONK, saw its market cap grow +116% in the past day alone, largely due to its #Coinbase listing. $BONK has jumped from the #69 largest asset to #43 in just 12 hours. If longing, be cautious of too much crowd #FOMO. https://t.co/nXYqzm6biG pic.twitter.com/3rsleIvJMG

— Santiment (@santimentfeed) December 15, 2023

BONK Price Prognosis As Analysts Speculate A Correction In BONK

After a 40% rejection from the $0.0000350 peak of the market range, BONK price slipped past the 70% and 61.8% Fibonacci levels at $0.0000248 and $0.0000217 levels respectively.

It comes as the Relative Strength Index (RSI) momentum indicator is subdued, moving horizontally after crossing below the signal line (yellow band) to show momentum is waning.

The cross-over between the RSI and the signal line is a sell signal. The position of the RSI above the 75 level shows that BONK is already overbought, suggesting an impending correction.

With multiple sell signals in the 1-day chart for the BONK/USDT daily chart, the meme coin could extend the fall to test the 50% Fibonacci level at $0.0000176. If this level fails to hold as a support, the price could extend a leg down to the equal highs of the December 9 and 13 trading sessions now acting as support at $0.0000151.

In the dire case, the slump could extend below the next support at $0.0000118, or worse, test the 23% Fibonacci level at $0.0000082.

On the flip side, a reentry by the bulls could see the Bonk price stage a recovery, restoring above the 61.8% retracement or higher, flip the 70.5% Fibonacci levels back to support. In highly ambitious cases, the climb could extend for Bonk price to reclaim the range high at $0.0000350.

Meanwhile, savvy investors are already scouring for presales with hopes of finding the next crypto to buy. In this pursuit, two Bitcoin derivatives are in the spotlight, BTCETF and BTCMTX. They both feature in Jacob Crypto Bury’s top 5 cryptos to buy in December with potential for 10X growth.

BONK Alternatives Worth Considering

BTCETF

It is the powering crypto for the Bitcoin ETF Token ecosystem, the only project that rewards token holders when spot BTC exchange-traded funds (ETFs) are approved.

#BitcoinETF represents a #Crypto token closely linked to $BTC and the impending #SEC approvals for the anticipated #ETFs.

Join our news channel for the latest updates. 🗞️

Follow along, turn on alerts, and stay informed about monumental #Bitcoin occurrences! 🚀 pic.twitter.com/HqNWM7AH5l

— BTCETF_Token (@BTCETF_Token) December 16, 2023

It is an ERC-20 token marking the anticipation of Bitcoin ETFs entering the American financial landscape, with big players such as Grayscale and BlackRock in the race.

What's the role of the $BTCETF #Token? 🤔

This ERC-20 token marks the anticipation of #Bitcoin ETFs entering the American financial landscape. 🚀 pic.twitter.com/RAhD5uuqi9

— BTCETF_Token (@BTCETF_Token) December 16, 2023

With experts marking the calendar for approval between January 5 and 10, the long-awaited arrival of a BTC ETF is imminent. So now is a great time to buy BTCETF.

https://twitter.com/BTCETF_Token/status/1735694513497157774

The project is in the presale stage and has already raised $4.447 million of its $5.059 million target. Each BTCETF token is selling for $0.0068.

Visit Bitcoin ETF Token website to buy BTCETF in the presale here.

BTCMTX

BTCMTX is the native crypto for the Bitcoin Minetrix ecosystem, a stake-to-mine project committed to making Bitcoin ownership a reality for everyone. To do this, it has decentralized and tokenized the process by eliminating all third parties, hassles and complexities of Bitcoin mining.

#BitcoinMinetrix embodies a tokenized cloud mining system, enabling regular users to participate in decentralized $BTC mining.⛏️

This platform mitigates third-party cloud mining risks, offering full operational autonomy. 🔐 pic.twitter.com/4jekB8X6lr

— Bitcoinminetrix (@bitcoinminetrix) December 16, 2023

The token is in the presale stage, boasting upwards of $5.390 million in token sales out of a target objective of $6.079 million. Each token is selling for $0.0123 with a price rise coming in less than five days.

Visit Bitcoin Minetrix website to buy BTCMTX in the presale here.