🌕Bonk Price Prediction as Market Cap Falls to $750 Million: When Will It Rally?


🌕Bonk dropped 2% today to $0.0000118 while the cryptocurrency market fell 1.5% in 24 hours.


🌕As traders lose optimism, the meme token's market value fell to $750 million and BONK fell 14% in the last week.


🌕Still, the currency has gained 5% in 30 days and 1,300% in a year.


🌕Traders shouldn't write off BONK just yet, as its past history suggests a significant recovery.


🌕BONK's chart remains downbeat, with signs suggesting the currency might fall further instead of rebounding.


🌕The coin's 30-day moving average (yellow) and current price are falling, indicating diminishing momentum.


🌕BONK's relative strength index (purple) fell below 50 in recent days and is fighting to climb.


🌕With its volume at $50 million, compared to $250 million in the middle of the month, traders seem uninterested in the meme currency.


🌕However, the currency has increased 2% in the last hour, signaling major buying by traders.


🌕Even if the signals are small, BONK may recover shortly.


🌕It hasn't witnessed a huge whale acquisition in a few months, but its holding count is greater than in late November, when BONK started its end-of-2023 rise.


🌕This shows some traders are holding the token for future profits.


🌕As Bitcoin ETF volumes climb and the next Bitcoin halving approaches, the Bonk price may surge in the next weeks.


🌕This month, Armada launched BONK incentives, indicating greater acceptance.


🌕It may hit $0.000020 in the next months before rising to $0.000030 later in the year.

#BONK #Write2Earn #TrendingTopic 🌕