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The Bonk price dropped 4% in the last 24 hours to trade at $0.00002327 as of 00:16 a.m. EST on trading volume that surged 30% to $370 million.
Bonk Price Aiming For A Bullish Breakout
The Bonk price action shows a sideways consolidation following a strong downward move from mid-July to early September. However, since late September, the price has been trading within a range (bounded by red boxes), indicating the market is in a consolidation phase, potentially building towards the next move.
According to data from GeckoTerminal, the BONK price is currently trading within the $0.00002536 resistance and the $0.00002026 support level.
The price is currently under the 50-day SMA, which suggests short-term downward pressure. However, the 200-day SMA is at 0.00002156; it is still below the price, indicating that the long-term trend is bullish overall. The 50-day SMA is trending above the 200-day SMA, known as a golden cross and typically a bullish long-term signal, even though short-term retracements are possible.
Meanwhile, the Relative Strength Index (RSI) is at 40.74, suggesting the market is in bearish-neutral territory but not yet oversold. This indicates that while there’s room for further downward movement, the price might also be gearing up for a bounce if support holds.
Bonk Price Prediction
According to the BONK/USD chart analysis, the Bonk price is currently on a bearish trend, but still trades within the sideways pattern. The price of Bonk trading above the 200-day SMA shows that the bulls may still push it through a breakout above the upper boundary.
In a bullish scenario, the bulls could propel the price even higher, aiming for the next possible target at $0.000028.
However, BONK could drop below the lower boundary if the bears continue the trend, with $0.000020 as the next possible support level.
As the Bonk price falls, investors might consider as an alternative the newly launched Flockerz (FLOCK) meme coin, which YouTube channel 99Bitcoins, with over 706K subscribers, says has the potential to soar 100X after launch.
Flockerz Closes On $1 Million In Presale
Flockerz has reached a total of $980,000 in its ICO as it continues its mission to put the power back in the hands of the crypto community.
Armed with the first-ever vote-to-earn (V2E) mechanism, propeller-beanie-wearing feathered friends are flocking to this new project, driven by their desire for control over their meme coin holdings.
One mil, oh so near, Flockers, let’s cheer! pic.twitter.com/is7WuaNGXU
— Flockerz (@FlockerzToken) October 21, 2024
The Vote-to-Earn platform from Flockerz is transforming decentralization as we know it. The platform allows community members to impact the project’s future and get compensated for their work.
The Vote-to-Earn platform represents a major shift in how meme currencies work. Flocktopia, the decentralized governance framework of FLOCK, is at the project’s core, giving each token holder an influence over crucial decisions.
Buy And Stake $FLOCK For 1,724%
Another reason investors are flocking to the presale of its native token, $FLOCK, is its mouth-watering staking rewards, currently perched at a dazzling 1,724% APY.
In the turbulent skies of crypto, it’s all about flying together. Strength in numbers, success in unity—fly with the flock! pic.twitter.com/vPwC75koVx
— Flockerz (@FlockerzToken) October 15, 2024
Investors interested in joining the presale can visit the official Flockerz website to buy FLOCK tokens here at the current price of $0.0058394 per token using BNB, ETH, or USDT. You can also make a purchase using your bank card.
Buy before a price hike in about two days to secure the best deal.
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