Will Bonk Recover? BONK Price Prediction After Recent 4.9% Decline
Today, the BONK price has experienced a notable pullback amidst a broader market retracement, with meme coins down an average of 3.5%.
Despite this, there are signs that BONK is beginning to stabilize.
Over the past week, BONK recorded a 1.88% loss, which, while noteworthy, is less severe compared to the losses experienced by major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).
Although BONK has fallen by 43.72% this month, it has still achieved an impressive return of 6,223% this year, outperforming other prominent meme coins.
The trading volume for BONK over the last 24 hours has decreased by 36.02% to $160.66 million, indicating a slowdown in trading activity.
BONK Price Breaks Resistance – Will Bonk Recover?
After plummeting in the early hours of this morning, BONK seems to be gearing up for a recovery.
The BONK price has notably breached the $0.00002203 resistance level (light blue), signaling potential for further gains as it shows robust strength.
This momentum is reinforced by the Relative Strength Index (RSI) (purple), which has climbed from 10 to 55 in just eight hours. This rapid rise moves it away from an oversold condition, indicating reduced selling pressure and stabilizing BONK’s price.
Currently, the RSI suggests a balance between buying and selling pressures, positioning BONK for its next directional move. The wider market trends will likely influence its trajectory.
Crucially, the 30-day moving average (orange) is declining, while the 200-day moving average (blue) is slightly rising, indicating a mixed short-term momentum but hints of stabilization.
Despite these fluctuations, the overall long-term trend is on an upward trajectory, maintaining a generally positive market sentiment for BONK.
Given that BONK has no real fundamentals of its own, it often rides wider market waves. Most significantly, traders are moving towards meme coins as they continue to outperform leading cryptocurrencies.
This prominence arises as the meme coin craze has permeated deeper into celebrity culture, with more influential figures joining the trend.
This has resulted in numerous celebrity-backed ICOs experiencing substantial rallies despite their track record of weak staying power.
Low-Cap Meme Coin Offering High Gains Potential
With BONK already boasting a substantial market cap of $1.49B, there is a real likelihood that its biggest gains are already in the past.
Therefore, traders seeking faster and bigger returns may find a strategic advantage in exploring newer low-cap meme coins set for explosive growth.
Enter WienerAI ($WAI), a new meme coin promising more than just a flashy mascot and community hype. It’s an AI companion cited to become “every crypto trader’s Best Friend.”
The meme coin market is over-saturated with animal-themed coins boasting little to no real utility. Something which may credit Weiner AI’s (WAI) recent success, raising over $6.5 million in one of the most promising presales right now.
Touted as a “Revolutionary AI Trading partner,” WienerAI is a digital companion that gives its owner user-friendly AI-enhanced trading advice, seamless swap functionality, and zero fees.
More than just a bot–WienerAI is your ultimate crypto trading companion.
We're delighted to share some sneak peeks with our incredible and supportive community. (1/4) pic.twitter.com/kR8ypeJycj
— WienerAI (@WienerDogAI) June 11, 2024
Around 20% of $WAI’s supply is for staking, and investors are currently earning an impressive 175% APY, as per the project’s official website. Even before it launches, WeinerAI is already making its holders gains as a passive income gem.
Keep updated on WeinerAI developments by joining the community on X and Telegram.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
