Bonk Price Prediction: BONK Plunges 13% As Experts Say Look To These New Meme Coins For Potential 10X Gains

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The Bonk token, a meme coin based on the Solana blockchain, has seen a 13% decline in its price over the last 24 hours, now trading at $0.0000156 as of 2:00 a.m. EST.

This drop occurs despite a notable 40% increase in its trading volume. Currently, Bonk is experiencing a consolidation phase within a descending parallel channel, a technical pattern typically indicating potential further losses unless there’s a breakout.

Technical indicators seem to favor a downward trend for Bonk. The Relative Strength Index (RSI) is on the decline, suggesting that momentum is decreasing. The Awesome Oscillator (AO) shows red histogram bars, gradually approaching the midline, indicating a weakening bullish presence.

Moreover, the Moving Average Convergence Divergence (MACD) indicator is trending downwards following its dip below the signal line (orange band) during the trading session on December 22. The MACD’s histogram bars are also in negative territory and growing in volume, which could signify that bears are gaining ground in the Bonk market.

Given this bearish dominance, increased selling pressure might cause the Bonk Inu price to fall below its immediate support level of $0.0000151. Such a break and close below this threshold could challenge the prevailing bullish perspective for Bonk.

In a more severe scenario, Bonk’s price could drop to the midline support of the channel at $0.0000118. In extremely bearish conditions, the price might plummet to test the lower range at $0.0000001, representing a staggering 99% decrease from current levels.

BONK price — TradingView: BONK/USDT 1-day chart

Converse Case

On the brighter side, if seller momentum decreases and buying pressure increases, the Bonk token could witness a significant rise. This scenario envisions the token breaking above the upper boundary of its current descending parallel channel, potentially reaching the resistance level at $0.0000243. Achieving this would mark a notable turnaround from its recent downtrend.

In an optimistic scenario, Bonk could transform this resistance zone, currently marked by seller congestion, into a new support level. This shift would provide a foundation for an upward trajectory, aiming for the next significant resistance at $0.0000320.

In the most ambitious cases, if the bullish momentum continues to build, Bonk’s price could even surge to test the $0.0000350 range high. Such an increase would represent a dramatic 124% rise from its current trading level, signaling a strong market reversal and heightened investor confidence in Bonk.

Meanwhile, experts anticipate 10X growth potential for three meme coins, MK, Sponge V2, and WSM. The tokens feature among the five top crypto presales of 2024.

https://www.youtube.com/watch?v=V9JtltmS8W4

Promising Alternatives To Bonk Inu

Standing among analysts’ top picks for the best crypto ICOs to buy in 2024, MK, Sponge V2, and WSM are the surefire alternatives to Bonk Inu even as BONK price continues to consolidate within a bearish channel.

MK

MK powers the Meme Kombat ecosystem, a stake-to-earn project that offers investors a chance to battle in the arena using meme characters of their choice. The project offers participants a chance to stake, play, and get rewards for participation.

Meme Kombat is literally the best #memecoin to buy on Boxing Day🥊

Don't @ me. pic.twitter.com/VejiC7yHE8

— Meme Kombat (@Meme_Kombat) December 26, 2023

Meme Kombat is in the presale stage, recording sales as high as $4.648 million out of a target objective of $5 million.

We are steadily on our way to $5 million!

$4.5 million raised already⚔️ pic.twitter.com/V68z6E5tyJ

— Meme Kombat (@Meme_Kombat) December 26, 2023

In the current stage, investors can buy MK tokens for rates as low as $0.257, but this will increase to $0.268 in just about 30 hours. Do not miss out on this low bar entry.

Visit Meme Kombat’s website to buy MK in the presale here.

Sponge V2

This is the second version of Sponge V1, offering SPONGE holders a chance to earn SPONGE V2 tokens by staking their SPONGE V1 holdings. This is done through the Sponge.vip website. Alternatively, you can earn Sponge V2 tokens by buying and staking Sponge V1 through the Sponge.vip website’s buy widget.

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

It is worth mentioning that the more V1 tokens you stake, and the longer you stake them, the more V2 tokens you are able to earn. Once the remaining supply of Sponge V1 is exhausted, you can claim your Sponge V2 tokens.

Visit the Sponge website to stake SPONGE V2 tokens here.

WSM

The WSM token, powering the Wall Street Memes ecosystem, is a meme coin project that has managed to cement its status as one of the biggest meme coins of 2023. It is an expansive ecosystem that recorded substantial success across 2023. Among the successes include a huge $25 million presale raise, which catapulted $WSM pump 114% following its launch.

The project features a new crypto-based Wall Street Memes Casino that sets up $WSM for a strong performance in 2024. With this, they introduced PEPE as a deposit method on the Wall Street Memes Casino.

We’re thrilled to announce we have introduced $PEPE as a deposit method on The Wall Street Memes Casino 💰 @pepecoineth dominated the last memecoin season, so we are stoked to be able bring this to our community 🚀

Sign up today to receive a sign up bonus of 200% up to… pic.twitter.com/4LRBlQXtI7

— Wall Street Memes Casino (@wsmcasino) December 22, 2023

Heading into 2024, Wall Street Memes has many ambitious plans ahead, with analysts highlighting the long-time frame growth potential in the next bull run. Even with this, nothing has the Wall Street Memes community more excited in the community Telegram and X (Twitter) than the upcoming launch of the WSM Web3 roadmap.