Bonk Price Prediction: BONK Surpasses SHIB By Trading Volume Amid 96% Pump Driven By Binance Listing As This New Meme Coin Star Races Towards $3.5 Million Target

ByLockridge Okoth

Updated: 15 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 soared 96% in the last 24 hours to trade for $0.00002857 as of 4:50 a.m. EST time as trading volume skyrocketed 400%.

The turnout has seen BONK overtake Shiba Inu (SHIB) in terms of trading volume.

(1/5)⚡️@solana-based meme coin @bonk_inu is making some noise👏, as the #price surged by 110%, 📈overtaking the trading volume of @Shibtoken.🚀

🧵#thread pic.twitter.com/V2Y5Px0lt4

— Crypto News (CoinGape) (@CoinGapeMedia) December 15, 2023

It comes amid ongoing meme coin fever, which has gripped investors. Evidence of this is seen in Dogecoin (DOGE) price, which appears poised to overcome the consolidation that is taking place between the $0.0927 to $0.1060 range in the four-hour timeframe.

Evidence of the meme coin fever also extends to the SHIB camp, as seen with Shiba Inu price breaching a multi-month declining resistance level following last week’s 8% rally on the weekly timeframe.

BONK, the ticker for the Bonk Inu ecosystem, is a Solana-based meme coin and its gains could inspire profit rotation into other meme coins, including Floki Inu (FLOKI).

Low market cap meme coins like Milady Meme Coin (LADYS) and Snek (SNEK), among others are already benefitting from the profit overflows. It comes as traders pursue profit opportunities in other altcoins instead of focusing solely on BONK price. LADYS is up 141% in the last week while SNEK is up 91%.

Why BONK Price Is Pumping

Besides the meme coin fever, the surge in BONK price comes as Binance exchange lists Bonk.

#Binance will list @bonk_inu $BONK with Seed Tag applied.

👉 https://t.co/BVs6KjrRvK pic.twitter.com/AKB6mlwnkL

— Binance (@binance) December 15, 2023

The token went up on Binance’s futures chart on November 22, alongside other tokens like PYTH. At the time, the BONK price soared 50%.

$BONK got listed on #Binance today! 👀

Previously, it was listed on #Binance Futures on Nov 22, alongside $PYTH.

This mirrors the pattern we saw with $BLUR, first appearing on futures and then on spot markets

If this is a new strategy from Binance, could $PYTH be the next?

— Satoshi Club (@esatoshiclub) December 15, 2023

To some, listing the token on the largest exchange by market capitalization marks the climax of the rally, and could precede a correction. This would not be surprising considering the buy the rumor sell the news situation has often worked in the market.

Listing $Bonk on Binance marks the end. Time to short use x3

— CryptoLord NE 📊📈 (@CryptoDefiLord) December 15, 2023

BONK Price Prognosis As BONK Spells Meme Coin Fever

After a rejection from the $0.00003509 range high, Bonk price is making another attempt north. It comes despite the token being massively overbought as indicated by the Relative Strength Index (RSI) at 89.

The upside potential remains alive for BONK price as the RSI remains northbound. The Moving Average Convergence Divergence (MACD) indicator is also moving north, within the positive territory, same as the Awesome Oscillator (AO) with its green histogram bars. These accentuate the bullish thesis.

Increased buyer activity could see BONK price make another attempt at filling the market range, shattering past the $0.00003509 to record a new range high.

Conversely, considering that Bonk Inu is already overbought, a pullback could already be underway. The ensuing selling pressure could send the meme coin to the 70.5% Fibonacci level at $0.00002480. If this level fails to hold as a support, BONK price could extend a leg down to the 61.8% Fibonacci level at $0.00002176.

An extended fall could see the meme coin test the 50% Fibonacci level at $0.00001764, or worse, descend to the critical support offered by the equal highs at $0.00001512. A break and close below this level would invalidate the prevailing bullish outlook.

In the dire case, the slump could extend for BONK price to slip past the $0.00001185 support to test the 23% Fibonacci level at $0.00000822. Such a move would constitute a 70% drop below current levels.

Meanwhile, the meme coin fever has also extended to MK, with its sales racing to the $3.45 million mark out of a $3.5 million target. Featuring among the top five crypto presales to buy in December, analysts anticipate 10X growth potential for the token at launch.

Promising Alternative To BONK

MK is in the front row seats for when considering the likely alternatives to BONK, offering investors entry to a stake-earn ecosystem.

The token powers the Meme Kombat ecosystem, where participants get a chance to battle in the arena using meme characters of their choice.

Who would challenge me to a duel? ⚔️ pic.twitter.com/LEMqmrLQsV

— Meme Kombat (@Meme_Kombat) December 8, 2023

Each MK token is selling for $0.246 in the current stage, with the price tag expected to last for the next six days before the price rises to $0.257. This is a chance for you to beat a 5% price hike. Do not miss out.

Token holders do not have to wait for the presale to end because the staking dashboard is already live. Stakers enjoy Annual Percentage Yields (APY) as high as 277%.

Visit Meme Kombat website to buy MK in the presale and stake it here.