{"id":590404,"date":"2024-10-23T08:23:21","date_gmt":"2024-10-23T08:23:21","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=590404"},"modified":"2024-10-23T08:23:21","modified_gmt":"2024-10-23T08:23:21","slug":"bonk-price-prediction-bonk-plunges-4-as-investors-rush-to-this-vote-to-earn-meme-coin-rival-with-1724-staking-apy","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bonk-price-prediction-bonk-plunges-4-as-investors-rush-to-this-vote-to-earn-meme-coin-rival-with-1724-staking-apy","title":{"rendered":"Bonk Price Prediction: BONK Plunges 4% As Investors Rush To This Vote-To-Earn Meme Coin Rival With 1,724% Staking APY"},"content":{"rendered":"

The Bonk price dropped 4% in the last 24 hours <\/span>to trade at $0.00002327<\/span><\/a> as of 00:16 a.m. EST on trading volume that surged 30% to $370 million.<\/span><\/p>\n

Bonk Price Aiming For A Bullish Breakout<\/h2>\n

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.<\/span><\/p>\n

According to data from <\/span>GeckoTerminal<\/span><\/a>, the BONK price is currently trading within the $0.00002536 resistance and the $0.00002026 support level.<\/span><\/p>\n

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.<\/span><\/p>\n

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.<\/span><\/p>\n

\"BONK<\/p>\n

Bonk Price Prediction<\/h2>\n

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.<\/span><\/p>\n

In a bullish scenario, the bulls could propel the price even higher, aiming for the next possible target at $0.000028.<\/span><\/p>\n

However, BONK could drop below the lower boundary if the bears continue the trend, with $0.000020 as the next possible support level.<\/span><\/p>\n

As the Bonk price falls, investors might consider as an alternative the newly launched<\/span> Flockerz (FLOCK)<\/span><\/a> meme coin, which YouTube channel <\/span>99Bitcoins, with over 706K subscribers, says has the potential to soar 100X after launch.<\/span><\/p>\n