Bonk Price Prediction: BONK Falls 9% As Solana’s Saga Phone Sells For $5K On eBay And Investors Consider If This Other Meme Coin Is The Best Crypto To Buy Now

ByEvans Karanja

Updated: 19 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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The Bonk price has plunged 9% in the last 24 hours to trade at $0.00001930 as of 7:08 a.m. EST, as its trading volume rose 10% to $565 million.

The fall came even as buyers of the Solana Saga mobile phone chase a BONK token airdrop after the coin had at one point soared in value by more than 1,000% in the past month. That meant the Bonk tokens were worth more than the phone, which was priced at $599.

The mania has continued with The Block reporting that one Solana Saga phone sold on eBay for $5,000. Other such Solana Saga phones for sale there have a base price of $2,000.

Since its release on May 8, every new Saga phone has included an airdrop of 30 million Bonk.

Last week, traders began noticing that a price surge in Bonk meant that the free airdrop had become more valuable than the phone itself, causing the phone to sell out as of Dec. 16.

The Bonk Price: Bulls Struggling Amid Downward Pressure. Can They Recover?

Bonk Price Chart Analysis. Source: Tradingview.com — BONKUSD Chart Analysis. Source: Tradingview.com

The BONKUSD daily chart reveals a pronounced upward trajectory in the BONK price, with buyers consolidating at the lower support level of $0.0000002383.

The support zone at $0.00002038 seems to have added to the sentiment, driving the price to the $0.000035 resistance point. However, bulls face rejection at this point, allowing the bears to force a retracement that has erased gains for the bulls.

BONK’s price is trading above the 200-day and 50-day simple moving averages, underscoring the prevailing bullish momentum.

The Relative Strength Index (RSI) has declined from 85 to 70 territory but remains generally bullish, indicating a resurgence of buying pressure for BONK.

The Bonk Price Prediction

Bullish investors are still optimistic and targeting a significant high above $0.000035. Nevertheless, there is a potential scenario where bears could extend the corrective phase, leading to a further price decrease towards the $0.00001029 support zone.

Meanwhile, as we wait to determine if Bonk is a viable long-term investment, investors are eagerly purchasing Meme Kombat, which has been recognized as one of the best presales this year.

Check out our guide to discover how to buy Bonk this year.

Best Crypto To Buy: Meme Kombat Set to Surge 10X, Say Experts

The Meme Kombat presale is gaining tremendous momentum, having raised an impressive $3.7 million as it closes in on the $4 million milestone. This surge in interest from investors comes as experts predict a 10X surge in the coin’s value after its launch.

We're closing in on $4 million raised👀

Already passed $3.7 million! $MK pic.twitter.com/qRZbWYwfaK

— Meme Kombat (@Meme_Kombat) December 18, 2023

Jacob Bury, a popular crypto analyst and investor, recently shared his insights on the potential of Meme Kombat in a YouTube video. He listed the project as one of the best cryptos to buy, emphasizing the potential for a 10X return on investment.

In the video, he explains in detail why Meme Kombat is such a promising opportunity for investors.

The excitement around Meme Kombat is driven by its unique approach to the meme coin market. The project combines elements of popular meme culture and gaming, creating an engaging and entertaining experience for users.

It's the intern here… quick before my boss catches me!

I got a sneak preview of the memes fighting each other. It's epic!!! pic.twitter.com/k6z8IL2Dap

— Meme Kombat (@Meme_Kombat) December 13, 2023

In Meme Kombat, beloved meme characters come together to compete for dominance. Users can bet on their favorite characters to win battles and earn money when their chosen character triumphs. For those who prefer not to enter the battle themselves, the platform allows users to bet on professional players.

Buy MK At A Discounted Rate, Earn High APY

Betting is facilitated through the project’s native currency, MK, which is currently available at a discounted price of $0.246 during the presale stages. As the project progresses, this price is set to increase, making it advantageous to buy now and capitalize on the discounted rate.

📣 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

Additionally, Meme Kombat presents a unique opportunity for investors to not only be part of an innovative and engaging platform but also to earn passive income.

By purchasing and staking your MK tokens, you can secure an impressive annual percentage yield of 239%.

This high-yield investment option adds an extra layer of appeal to the already exciting world of meme-based gaming and betting. This has attracted a pool of whale investors, with one recently spotted buying $200,000 worth of MK.

Some whale just bought $200k worth of $MK 🤯🤯🤯 This comes after many many buys into our presale.

That pushes us past $3.3 million raised⚔️ pic.twitter.com/gOAn09tpkA

— Meme Kombat (@Meme_Kombat) December 15, 2023

You can buy MK tokens by visiting the official Meme Kombat website. Then use either USDT, BNB or ETH to buy MK.