Bonk Price Prediction as Volume Outperforms SHIB – Can Bonk Overtake Dogecoin and Shiba Inu?
Bonk Designate Prediction as Volume Outperforms SHIB – Can Bonk Overtake Dogecoin and Shiba Inu?
The Bonk sign has dropped by 6% in the previous 24 hours, with the meme token falling to $0.00001171 on a day when the wider market drops by a much less dramatic 0.5%.
BONK stays up by 7.5% in the previous week, but it has declined by 17.5% in the closing 30 days, with January having been a largely unfavorable month for the coin.
Nonetheless, it continues to sit down on a 1,000% fabricate in the closing 300 and sixty five days, and with its trading quantity basically outperforming that of its rival Shiba Inu (SHIB), it’s likely to ride extra rallies rapidly.
Bonk Designate Prediction as Volume Outperforms SHIB – Can Bonk Overtake Dogecoin and Shiba Inu?
Bonk’s chart continues to seem stunning flat, with its indicators struggling to recover from extra than a month of overselling and stagnation.
For example, BONK’s 30-day moderate has been declining somewhat over the last couple of weeks, and has didn’t upward thrust since January.
That is a clear signal of an absence of momentum, with the coin’s relative energy index (red) telling us one thing very related.
Indeed, the RSI stays below 50 and is struggling to upward thrust any increased, suggesting an absence of interest from investors on the second.
BONK’s quantity supports this ogle, since whereas the coin has traded extra carefully than SHIB and DOGE in fresh months, its quantity on the second stands at most exciting $75 million.
That is minuscule in comparability to necessary tokens (e.g. Bitcoin, Ethereum Solana), and it additionally represents an 85% decline when put next to how carefully BONK traded in mid-January.
One cause in the aid of BONK’s underperformance in fresh weeks is that whales seem to have forgotten regarding the coin, and not using a enormous buys going on since earlier in the month.
There is one whale who continues to shield onto about $3.5 million of the coin, but diverse than this, no longer noteworthy has took impart in the previous couple of weeks.
It sounds as if many merchants have moved onto diverse meme tokens, with WEN being the most up-to-date Solana-basically based model of the month altcoin.
$BONK is to 2023, $WEN is to 2024
{plunge mic} pic.twitter.com/qfqiBa7mTi
— moh.0X 🦅🚀 (@0x_moh_) January 28, 2024
Having said that, the market as a total is additionally flatlining correct now, so a return to bullishness may well benefit the Bonk sign recover.
The Bitcoin halving in April may well clutch costs at some level of the board, as an instance, with BONK potentially in a design to return to $0.000030 by the conclude of spring.
Newer Meme Tokens for Newer Rallies
For these terrified that BONK’s handiest days may well already be over, there are diverse newer tokens emerging that look ready to rally in the upcoming weeks.
One prime candidate for enormous returns is Sponge (SPONGE), an ERC-20 cryptocurrency that before all the pieces listed – and surged – in April 2023.
Yet now it’s in the formula of launching the second model of its coin, which comes with a brand new staking model and may well aloof additionally abet because the native token for a thrilling new play-to-produce game.
10 exchanges no longer ample? 😉#SpongeV2 will likely be listed on BIGGER AND BETTER exchanges! 🔥
You’re no longer ready for what’s coming next 👀#SpongeV2 #MemeCoin #Presale pic.twitter.com/LdXRYu65Z8
— $SPONGE (@spongeoneth) January 23, 2024
The brand new game will likely be a multiplayer racer, enabling avid gamers to compete in opposition to every diverse to search who can nasty the very best on a world leaderboard.
This can have a free and additionally a paid model, with these who nasty the very best receiving SPONGE V2 as a reward,
Holders of SPONGE V1 can relate V2 tokens by visiting the decent Sponge web impart and staking their older model, whereas non-holders can simply aquire SPONGE V2 outright.
And once they’ve claimed their V2 tokens, they are going to have them staked till the brand new coin is formally launched, with holders incomes a increased price in the event that they leave their tokens locked up for longer.
Intelligent about Sponge’s allure as a meme token and its already-sturdy following, SPONGE V2 may well basically rally laborious once it goes stay in the following couple of weeks.
Purchase Sponge V2 Right here
Disclaimer: Crypto is a high-possibility asset class. This article is supplied for informational functions and would no longer relate funding advice. That it is possible you’ll lose all of your capital.
Source : cryptonews.com
