Bonk Price Prediction – Are Whales Buying As $240M In Volume Comes In?
After falling early this morning, BONK seems ready to rebound again.
In particular, its Relative Strength Index (purple) has bounced from nearly 40 to 50 in the past hour, signaling a potential uptrend.
At the same time, its current price has once again jumped above the 30-day moving average (yellow), indicating that it may be on the verge of a breakout.
Supporting this view is the coin’s trading volume, which has grown by 200% in the past few days alone to reach $250 million.
Having said that, this is actually down 86% from the beginning of the month.
So it’s entirely arguable that while a handful of individuals still hold sizable BONK holdings, the majority of whales still ignore the token.
In fact, the whale above - which we mentioned before - is now sitting on a BONK hoard worth about $15 million, which is double what it was worth at the end of last month.
As a result, some traders continue to expect BONK to do good things in the coming months, and at the same time, the market may become increasingly bullish as the next Bitcoin halving approaches.
There is also promise for an Ethereum ETF, and while BONK is a meme token with no real fundamentals of its own, it often moves the entire market.
Therefore, Bonk price could reach $0.000030 in the coming weeks and then $0.000040 in the summer.
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