$500M Volume Pushes BONK Toward $1
Today, Bonk is worth $0.00002108, down 6% in 24 hours and 16% in a week.
As the cryptocurrency market falls 3% in a day, concern about the Middle East, US election, and global economy lowers prices.
The meme token, the 61st largest currency in the market, is still up 27% in a month and over 9,000% in a year despite its recent struggles.
Despite the selloff, BONK's trading volume remained high at $500 million, showing ongoing demand.
BONK is certainly falling and may have to go farther before it recovers.
Its relative strength index (purple) has dropped from above 70 a few days ago to approximately 40 today, with further room to fall before it becomes oversold.
More importantly, BONK's 30-period average (orange) has gone below its 200-period average (blue), establishing a âdeath crossâ that normally signals a major crash.
With demand presumably pouncing on today's selling, BONK's strong trading volume may foreshadow a brief drop.
We haven't seen any significant BONK transfers in weeks, but the coin's biggest whale still has 2.41 trillion BONK.
This is worth $50 million and 2.5% of the meme token's supply.
That the whale has held onto its BONK through recent ups and downs suggests they anticipate it to climb much higher over time.
Since BONK, founded in Solana, has been one of the top-100 coins of the year, this is likely.
The Bonk price might rise 380% to $0.00010200 in 2025, according to our prediction.
This may sound ambitious, but the market has heated up in recent weeks after the Fed slashed rates.
As one of the most popular meme currencies, BONK is likely to ride any market wave.
#BONK #DoYouHoldBNB #BTCUptober $BONK
