Bonk Price Could Rally 90%: Market Accumulation Hints at Upcoming Surge

Author

Joel Frank

Author

Joel Frank

About Author

Since graduating with a degree in economics from the University of Birmingham in 2018, Joel has worked as a financial market/cryptocurrency analyst. He firmly believes that emerging crypto technology...

Author Profile

Share

Copied

Last updated:

August 2, 2024 15:43 EDT

Why Trust Cryptonews

With over a decade of crypto coverage, Cryptonews delivers authoritative insights you can rely on. Our veteran team of journalists and analysts combines in-depth market knowledge with hands-on testing of blockchain technologies. We maintain strict editorial standards, ensuring factual accuracy and impartial reporting on both established cryptocurrencies and emerging projects. Our longstanding presence in the industry and commitment to quality journalism make Cryptonews a trusted source in the dynamic world of digital assets. Read more about Cryptonews

The Bonk price is tanking on Friday in tandem with a broader crypto market sell-off, but ongoing market accumulation continues to hint towards an upcoming 90% surge.

Last around $0.0000225, the Bonk price is once again testing its 200DMA.

Over the last few months, buying BONK when it tests its 200DMA and holding few weeks has been a great strategy.

If history repeats, that could be the case once again.

And it’s not just the 200DMA that is sending a potential buy signal.

The BONK price is nearing a retest of an uptrend that has been in play since February.

A bounce from this uptrend could set the stage for a 90% rally towards the $0.000040s.

This marks the upper bounds of BONK’s accumulation range in recent months.

Bonk Price Could Rally 90%, But This Rival Could 100x

Now might be a great time to buy the BONK price dip, with a good chance 90% gains are incoming.

But impatient meme coin traders are frequently looking for much larger gains, of say 10x or more.

The best way to make 10x or more gains in meme coins is by getting into a new meme coin early.

Investing in meme coin presales is one of the best ways of doing this.

That’s why Cryptonews.com keeps a close eye on the meme coin presale market.

And one new project they think has a lot of potential is a new Wild West-themed play-to-earn (P2E) meme coin called Shiba Shootout (SHIBASHOOT).

Shiba Shootout is conducting a presale of its native SHIBASHOOT token and demand is strong. Investors having already ploughed over $860,000 into the new rival coin.

BOOM!!! 🎉

Another huge achievement for #SHIBASHOOT 🐶

We've successfully raised over $800,000! 💵

The excitement with #SHIBASHOOT keeps growing, stay tuned for more updates! 🚀 pic.twitter.com/l6hZyaHhjk

— shibashootout (@shibashootout) July 29, 2024

SHIBASHOOT is packed with P2E utility but is also a passive income gem.

See below why popular crypto presale analyst Michael Wrubel thinks Shiba Shootout could be the next 100x gem.

Buy SHIBASHOOT Here