Bonk Price Prediction as Daily Volume Hits $900 Million

Last updated: May 24, 2024 12:50 pm EDT | 2 minute read

An increase in BONK’s 24-hour trading volume to $900 million suggests possible whale activity, even if the price sees a temporary pullback.

THE VERY GOOD price fell 5.64% over the past 24 hours to $0.000033. This comes as the cryptocurrency market as a whole has regained momentum.

BONK is now up 35.43% over the past week, indicating a continuation of its monthly price increase of 21.82%.

Over the past year, the altcoin has seen an impressive return of 7,990.65%, according to Binance data.

This is significant compared to the returns of major tokens such as BTC, ETH, and SOL over the past 12 months, suggesting that BONK is seeing widespread interest among investors.

And with its 24-hour trading volume rising to $902.9 million in the past few hours, it appears that its short-term momentum may be hinting at a rebound.

BONK Price Prediction: Are Whales Buying?

After declining in the early hours of this morning, it appears that BONK is ready to rebound again.

Notably, its relative strength index (purple) has dropped from 90 to 35 over the past 24 hours. This suggests that BONK is oversold, indicating that it may be undervalued and that a price rebound may be imminent.

Other indicators support this, such as the continuation of a positive (yellow) trend line. This suggests that the recent retracement was temporary and does not signal a complete change in momentum.

Additionally, the meme coin’s 30-day moving average (orange) is trending upward above the 200-day moving average (blue) continuously from last week, confirming the continued bullish trend.

Supporting this view is the coin’s trading volume, which, at $900 million, increased by 33% in the last week alone. This suggests some potential big hands flocking to the market.

although BONK is a meme token with no real fundamentals of its own, it often rides the waves of the market.

Thus, the return of the 2021 market catalyst Roaring Kitty, the trader known for sparking the GameStop frenzy and the recent approval of multiple US Ethereum spot ETFs they could serve as catalysts to push BONK further.

Bonk’s price could therefore reach $0.000040 by the summer.

Alternative meme coins for large events

Given that BONK has already amassed a market capitalization of $1.7 billion, one has to wonder whether truly impressive gains will be possible in the future.

As a result, traders are scrambling to find the next small-cap stock meme coins ready to explode.

Enter Dogeverse, Solana’s latest Shiba Inu-inspired meme coin, which has captured the attention of meme fans, degenerates, and cryptocurrency enthusiasts. Some cite it to have 100x potential.

Dogeverse is the first Doge Meme token built on a multichain network spanning Ethereum, BNB Chain, Polygon, Solana, Avalanche and Base.

Its cross-jumping capabilities are seen as a preview of the potential future of meme coins. Something that could lend credence to the recent success of $DOGEVERSE, which has raised over $15 million presale until now.

You can also stake $DOGEVERSE tokens on Ethereum earn passive incomegiving him the potential to be one of the next best passive income gems.

Currently priced at $0.00031, $DOGEVERSE is at its last fixed price before launch. This means that when the coin reaches the open market through exchanges, there is a very real possibility that it will never be this low again.

Follow the latest developments on Dogeverse X account.

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Disclaimer: Cryptocurrencies are a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all your capital.

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