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Prediction of Bonk Price as BONK Soars 150% From Lows
Despite the muted tone of recent activity in the blue-chip cryptocurrency market, the price of Bonk (BONK) has been climbing fast over the last week. BONK has recovered from its early-month lows and is currently up over 130%.
The top Solana meme coins were trading for about $0.000028, down from a low of $0.0000124 on April 13.
After breaking north of a downtrend on Sunday, Bonk's price has been surging, spurring a flurry of technical buying. At its current level, BONK is testing the late March highs, which were at $0.000029.
There is increasing likelihood that the Bonk price may retest the levels it reached in March.
Investors in meme currency are wondering whether the dip-buying opportunity has passed now that the price has more than quadrupled from its previous monthly lows.
Bonk reached a new record high of $0.000047 on March 4th.
Those who are rushing to buy Bonk at this moment have obviously failed to notice the recent price low.
But Bonk has shown it can trade for far more than what it's selling for right now.
The possibility to purchase at a discount may so still be available.
Investors shouldn't put more money at risk than they can afford to lose since meme coins are obviously quite hazardous.
Given Bonk's apparent lack of use, its value might vanish from its present levels in an instant, perhaps by as much as 90%.
However, it should be noted that Bonk is now a very popular joke currency.
In the time after, Bonk built a sizable community—the very essence of a meme currency.
In addition to 220,000 Discord users, Bonk has 13,600 Telegram users and over 280,000 X users.
For anyone predicting that big meme currencies would maintain their value increases throughout current bull market, Bonk might be an excellent choice.
Its $1.8 billion market valuation is little in comparison to Dogecoin and Shiba Inu, for example.
The ebb and flow of fear of missing out (FOMO) means that Bonk might see profits of 10x later on in this bull market.
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