Bonk Price Prediction: BONK Drops 7% As This Meme Coin Closes On $1.3 Million

Updated: 01 January 2024

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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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The Bonk price has plunged by 7% in the last 24 hours to trade at $0.00001339 as of 5:50 a.m. EST.

According to Ninja, a renowned analyst, the Bonk price will likely pump in the long term.

$BONK – next longs I will be interested is in the zone below

remember, meme coins are good coins because moon-boys never sell (only weak hands do)

buy spot & chill

thank me later pic.twitter.com/ko03Yf4yFA

— Ninja (@Ninjascalp) December 31, 2023

Bonk Price Prediction

An in-depth analysis of 2-hour BONK/USDT charts points towards a bullish short term on the meme coin as the Relative Strength Index indicator moves north. The MACD indicator is also reverting towards the green zone, showing fading bearishness.

Looking at volatility levels, the Bonk price is currently volatile, as shown by the Bollinger Bands, which are currently diverging.

2-hour BONK/USDT charts | Source: TradingView

Due Nune, a renowned analyst who called the Bonk plunge a few days prior, warns of a continuous crash in the Bonk price should bulls fail to find new support.

Here's a practical lesson for those Solana fanboys holding BONK because they have diamond hands.

🚨 When the price falls outside the uptrend, the pump is OVER!

Especially if the uptrend lasted months. Expect a crash until a new support baseline is found. pic.twitter.com/XRCMpTzwP6

— Duo Nine ⚡ YCC (@DU09BTC) December 28, 2023

Meanwhile, as the Bonk price plunges, Sponge V2 is emerging as another top player in the meme coin space as it emerges as another presale to watch out for in 2024.

Bonk Price Prediction: Is Sponge V2 The Better Meme Coin Alternative?

Sponge V2 is making waves as the next iteration of the Sponge V1 project, positioning itself as a potential substitute for Bonk.

https://twitter.com/spongeoneth/status/1736710430888739065?

Securing Sponge V2 tokens is exclusive to the Stake-To-Bridge method. Users can accrue these tokens by either staking or purchasing Sponge V1 on the designated website. This acquisition grants users a specific quantity of Sponge V2, enabling them to participate in staking activities and reap rewards for an extensive four-year period. This staking initiative also places the SPONGEV2 price at a better-gaining advantage upon release over the Bonk price.

https://twitter.com/spongeoneth/status/1740326784665522450

Justin Sun And Expert Recognition

Renowned figures in the crypto sphere, including Justin Sun, an advisor to Huobi Global and the visionary behind Tron, have expressed interest in Sponge V2. Notably, experts have recognized Sponge V2 as a standout meme cryptocurrency for investment due to its potential for exponential growth. Amidst preparations by other major investors for the impending crypto bull run, Justin Sun’s strategic moves in the market have garnered significant attention. This aligns with Sun’s prior statements emphasizing his dedication to meme currencies.

I've decided to begin actively trading meme coins and promising projects through my public address. Please note, I will personally bear all potential losses from these trades, and any profits made will be donated entirely to charity.

— H.E. Justin Sun 孙宇晨 (@justinsuntron) May 11, 2023

Examining the Etherscan data, Sun’s address is linked to holdings valued at $530 million, predominantly consisting of SPONGE tokens. Justin Sun himself possesses 108 million SPONGE V1 tokens, currently valued at $43,246, showing preference by investors on the meme coin as they anticipate a pump on the token’s price over others like the Bonk price.

Justin Sun and other notable investors appear to be strategically eyeing the transition from Sponge V1 to Sponge V2, anticipating substantial profits with a projected 100x return. This strategic move aligns with the exponential expansion observed in the original Sponge project. Furthermore, the Sponge team has committed to venturing into the rapidly growing gaming industry and securing listings on tier 1 exchanges.

Sponge V2’s emergence, coupled with influential endorsements and strategic maneuvers by prominent figures like Justin Sun, positions it as a compelling player in the evolving landscape of meme coins, with the potential for significant growth and profitability. With this in mind, and with the Bonk price currently plunging, Sponge V2 could be your go-to alternative.

Visit Sponge V2 here.