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The Bonk price plummeted more than 10% over the past 24 hours to trade at $0.00002302 as of 12:00 a.m. EST as investors dump their holdings in the dog-themed meme coin.
Despite the recent retracement, the BONK price is still 23% in the green on the weekly timeframe, but down over 17% in the last month.
The Bonk Price Testing A Critical Support
4-hour chart for BONK/USD (Source: GeckoTerminal)
The Bonk price lost the key support level at $0.00002504 over the past 24 hours, and is now testing the subsequent mark at $0.00002231. A drop below this point could expose the meme coin to the risk of plunging to as low as $0.00002010 in the upcoming 48 hours.
Conversely, BONK maintaining a position above $0.00002231 for the next 12 hours could invalidate the bearish thesis. In this alternative scenario, traders might start to enter into a long position for the crypto.
With the potential buy volume, the Bonk price could attempt to reclaim the $0.00002504 support. A 4-hour candle close above this threshold might then give the meme coin the foundation needed to rise to $0.00002764 in the short term.
Technical Warnings Suggest The Bonk Price Might Keep Falling
Technical indicators on BONK’s 4-hour chart warn the Bonk price could keep falling through the course of the next trading day. Both the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) indicators show that momentum is currently in favor of bears.
BONK’s RSI on the 4-hour chart dropped below the crucial 50 benchmark when the meme coin lost the $0.00002504 support, and remains negatively sloped. This not only suggests that sellers have gained the upper hand against buyers, but warns that sellers continue to grow stronger as well.
Meanwhile, the MACD line crossed below the MACD Signal line throughout the past day of trading to indicate that BONK has entered a negative short-term trend. What’s more, the MACD line is breaking away below the MACD Signal line. Traders usually see this as a sign that a crypto’s bearish momentum is intensifying.
If the technical warnings presented by the MACD and RSI indicators on the 4-hour chart are validated, the Bonk price could soon lose the $0.00002231 support.
As BONK’s short-term technical indicators flag bearish, traders are rushing to buy WienerAI (WAI) as its listing nears.
Taking On All Of The Heavy Lifting For Traders
WienerAI (WAI) is a dog-themed meme coin that comes with powerful AI technology. Fine tuned to analyze the highly-volatile crypto markets, the project’s about to launch a trading bot with predictive capabilities that helps traders identify the next profit-making opportunity.
With so many cryptocurrencies in the market, it can be difficult for traders to pick which tokens to keep an eye on. WienerAI simplifies this task by filtering through vast amounts of market data to determine where traders should place their focus to maximize returns.
In addition to identifying opportunities, WienerAI also makes it easy for traders to safely and seamlessly execute trades through a suite of tools offered within the project’s ecosystem. One of these tools is the efficient token swap solution called Sausage Swap. Complementing the swap capabilities is WienerAI’s MEV bot protection.
With its combination of AI technology and meme coin appeal, it is easy to see why an analyst from the 99Bitcoins YouTube channel predicted that WienerAI could be the next 100X opportunity to make its way to the market.
Investors Rush To Buy WAI Before Its Presale ends
More than $7.3 million has been sent to WienerAI’s ongoing ICO, signaling strong investor confidence. In addition to its high levels of utility, the project is also offering buyers at this early stage a lucrative staking opportunity with a 153% APY.
With the ICO in its final stage, time is running out for investors to get in on these high rewards. Anyone that wants to become eligible for the high APY before it’s too late can do so by purchasing WAI through the simple buy widget on WienerAI’s website.
That feeling when you got into the WienerAI presale on time … pic.twitter.com/uBIcQevxud
— WienerAI (@WienerDogAI) July 11, 2024
Selling for $0.00073, WAI can be bought using either ETH, USDT, BNB or bank card. Once purchased, the tokens will need to be locked up via the staking page to start earning rewards.
The project is offering a last chance to buy with the presale set to end in 19 days.
Purchase and stake WAI here before it’s too late.
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