The Bonk price is up 5% in the past 24 hours to trade for $0.00002515 as of 09:57 a.m. EST on trading volume that soared 102%.
With this surge, BONK joins Floki (FLOKI) in outperforming top sector tokens, as Dogecoin (DOGE), Shiba Inu (SHIB) and Pepe (PEPE) flash red.
As BONK bulls show strength, traders say the Bonk price is primed for a bullish move.
$bonk is looking really good here
interestingly, not many are talking about it… yet pic.twitter.com/rLTmfMih7M
— Unipcs (aka 'Bonk Guy') 🎒 (@theunipcs) July 2, 2024
Some ascribe the strength in the Bonk price to meme coin exhaustion, with popular trader Crypto Chase anticipating a 50% move up.
$BONK update
BONK buys up good, roughly 50% gain.
Coming into resistance here, deal with that as you please. My bag is spot so I'm mostly chilling (will trim some), but will keep some as well for higher over time. Sub .02 was key for me, just like 58.8K was key for me on $BTC. https://t.co/WxpJQCU35q pic.twitter.com/WRIQA6VNv7
— Crypto Chase (@Crypto_Chase) July 2, 2024
Bonk Price Prediction
The Bonk price is trading with a bullish bias, consolidating within an ascending parallel channel on the four-hour timeframe. The meme coin looks poised for more gains as multiple technical indicators flash bullish.
For starters, the Relative Strength Index (RSI) is well above the mean level of 50, with defined higher lows to show a strengthening bullish momentum. In the same way, the Moving Average Convergence Divergence (MACD) above its signal line (orange band) as both oscillators hold in positive territory.
Put together, these momentum indicators suggest the bulls have the advantage and the Bonk price could extend north. In such a directional bias, however, only a stable close above the 61.8% Fibonacci indicator at $0.00002950 on the four-hour timeframe would make BONK attractive to buy.
For skeptics, however, consider waiting for the Bonk price to close above the 50% Fibonacci placeholder of $0.00003274. This would mark the escape of BONK out of mucky waters.
GeckoTerminal: BONK/USD 4-hour chart
On the other hand, if the bears have their way and the Bonk price slips below the 78.6% Fibonacci retracement level of $0.00002490, it could provoke a sell off. In a dire case, an extended fall below the lower trendline of the ascending parallel channel would invalidate the bullish thesis.
Such a directional bias could send the Bonk price spiraling to the depths of the $0.00001903 support floor, before possible recovery.
As the Bonk price defends its uptrend, forward-looking meme coin traders are flocking to Mega Dice (DICE). Experts anticipate an explosion for this GambleFi crypto after launch with YouTuber Jon Trading saying it has 100x potential.
Promising Alternative To Bonk
DICE, the ticker for the Mega Dice project, is an established casino project with a user base that exceeds 50,000. It boasts over 11,000 active players, and monthly wagers exceeding $50 million.
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The project is the first GambleFi project on the Solana blockchain, and aims to challenge the casino sector titan, Rollbit Coin. It also looks to emulate earlier presales like TG.Casino, which exploded 4x on launch.
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Here’s why $DICE is set to become the leading GameFi token, outpacing all… pic.twitter.com/wI2jy30ntr
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Mega Dice offers investors and players a variety of rewards. These include tournaments and daily rewards to holders that are based on the casino’s performance.
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Also Read:
Michael Wrubel’s Insights on Mega Dice Crypto Presale – Why He is Bullish on the GameFi Token?
Mega Dice Presale Has Already Attracted Half a Million – Top GameFi Crypto on Solana?
Solana’s Hottest New GambleFi Presale Mega Dice Has Already Blasted Past $500,000 In First Week
What is a Crypto Presale? A Quick Guide to Getting in on the Ground Floor of New Cryptocurrencies!