Prediction of $BONK Price as Meme Coins Rebound Following Sell Off—Should I Invest Now?
Bonk has gained 0.7% in 24 hours to $0.00002312, while the market has gained 2.5%.
This move doesn't erase BONK's 16% weekly loss, but the Solana-based meme currency is up 35% in 30 days.
Even better, the currency has gained 5,400% in the last year, making it one of the top-100 tokens.
BONK may rise shortly as it's been oversold for a week.
BONK's chart is showing indications of recovery, and the fact that it's only just started means further increases are ahead.
Its 30-day average (orange) has just started climbing again, so the coin's price has lots of time to grow until it overtakes the 200-day (blue) and climbs dramatically.
BONK's relative strength index (purple) has rocketed from just around 30 this morning to approximately 60 as of writing, indicating significant buying pressure and momentum.
The meme token's momentum should last for many more days, since its volume is barely recovering.
Bullish is the coin's resistance (red) and support (green) levels closing in, signaling a quick price squeeze in either direction.
Since BONK has fallen for almost a week, a significant rise is likely upward.
BONK may increase with the market, which is recovering after a rough few months.
Once financial markets suspect the Fed will decrease interest rates, which have stayed high this year, GDP will accelerate.
In January 2023, Bonk's creators burned their entire allotment of 5 trillion tokens, making it a unique deflationary meme token.
Bonk should hit $0.000030 by summer's end based on tokenomics and momentum.