Bonk Price Prediction: BONK Plunges 7% With Time Running Out To Buy This Presale That's Rocketing Towards $2 Million Raised

Bonk Price Prediction: BONK Plunges 7% With Time Running Out To Buy This Presale That’s Rocketing Towards $2 Million Raised

ByEvans Karanja

Updated: 05 January 2024

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 is down 7% in the last 24 hours to trade at $0.00001130 as of 4:44 a.m. EST, as trading volume tumbled 42% to $90 million.

BONK Price Trades The Descending Triangle

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

The BONK price has fallen below the support level at $0.00001286, indicating a shift into a bearish support zone (marked with a yellow bar).

Following rejection at $0.00003552, bears have taken control, exerting downward pressure on the price and causing it to retreat to the established support level at $0.00001342.

This descent has formed a descending triangle pattern, suggesting a potential bearish trend continuation if the price breaks below the support zone.

Despite this, the BONK price appears to find support from the 50-day Simple Moving Average (SMA), providing some respite for the bulls.

However, a break below the 50-day SMA could pave the way for a sustained downward trend, with bulls potentially regrouping around the $0.000005608 level.

The Relative Strength Index (RSI) reflects the prevailing bearish sentiment, as it has declined from 87 to 40, indicating significant bearish pressure in the market.

The Bonk Price Prediction

The existing support zone for BONK appears robust, showcasing resilience and providing an opportunity for bulls to amass the strength needed for an upward price movement to the $0.00003552 resistance level, representing a potential 180% increase from the current price.

If bearish pressure persists, there is a risk of BONK descending below the lower boundary of the descending triangle, potentially reaching the support zone at $0.000005608.

Meanwhile, Sponge V2 is offering one of the best alternatives to Bonk. Traders are rushing to buy Sponge as it skyrockets towards $2 million in its presale project, offering lucrative opportunities, especially after experiencing a 100X surge with Sponge V1.

Sponge V2 Secures $2 Million, Buy Now for 100x Returns

SPONGE V2 has quickly raised $2 million in funding, attracting stakeholders eagerly awaiting its launch. You can acquire and stake $SPONGE using the provided widget to earn a corresponding bonus in V2 tokens. The token is priced at $0.000574, utilizing a Stake-To-Earn strategy committed to delivering 100X returns on investment.

https://Twitter.com/spongeoneth/status/1736710430888739065?s=20

Sponge V1 surged 2,900%, reaching a market capitalization of $100 million and securing listings on over ten centralized exchanges, such as LBank, Toobit, CoinW, BTCEX, Poloniex, MEXC, Gate.io, Bitget, BitKan, and BitMart. Further, it has over 13,000 holders with the support of over 30,000 social followers.

Justin Sun, co-founder of Tron, shows his support for SPONGE after he bought 108,018 $SPONGE tokens, now worth $49,458. Sun revealed in one of his tweets that he was trading meme coins that show potential.

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

Stake, Play and Earn Passive Income

The platform provides an opportunity to stake your $SPONGE on the SPONGEV2’s official website. By doing so, you automatically secure a portion of the V2 token upon its launch, along with an impressive annual percentage yield (APY) of 414%.

If you thought #Sponge v1 was good, just wait for #SpongeV2! 😎🧽🧽💦

We're coming back stronger than ever with more utility and our new #P2E game. 🔥

Hurry and stake your $SPONGE now!!#MemeCoin #Presale #Crypto pic.twitter.com/qroHE6XRMY

— $SPONGE (@spongeoneth) January 1, 2024

You can also use $SPONGEV2 tokens to obtain additional game credits, enhancing your chances of earning more $SPONGE in the play-to-earn (P2E) version.

Exciting News! 🧽🚀

There will be a free and paid version of the new Sponge #P2E game.

You can play for fun on the free version, or use $SPONGEV2 tokens to purchase additional game credits and earn more $SPONGE 😎#MemeCoin #Presale #Crypto pic.twitter.com/kJsqBY3wQ3

— $SPONGE (@spongeoneth) December 27, 2023

Michael Wrubel, a crypto YouTuber with over 310k subscribers, shows how he made $100,000 in returns from the original Sponge. He is optimistic about the prospects of Sponge V2 delivering even better returns.

With a listing imminent, hurry now to buy Sponge V2 tokens by connecting your Web3 wallet to the official Sponge V2 website. Then swap your ETH or USDT for SpongeV2 tokens, or use your bank card to buy directly.