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Do Whales Buy as $240 Million Trading Volume Floods In?
The Bonk price fell 2.5% to $0.00002603 in 24 hours, while the crypto market fell 1.5%.
BONK is up in the previous hour, but the meme currency has gained 17% in the past week and 118% in the last 30 days.
BONK has gained 4,800% in the last year, with the meme coin holding most of its momentum in recent months.
With its 24-hour trading volume growing to $250 million in recent hours, its short-term momentum may create a comeback.
Do Whales Buy as $240 Million Trading Volume Floods In?
BONK is set to bounce after plunging early this morning.
In the last hour, its relative strength index (purple) has moved from almost 40 to 50, suggesting an upward advance.
Additionally, its price has again risen above its 30-day average (yellow), suggesting a break out.
The coin's trading volume, $250 million, has increased 200% in two days, supporting this opinion.
However, this is an 86% drop from the start of the month.
Since most whales are still ignoring the token, a tiny minority may still have huge BONK holdings.
We previously reported the whale above, which now has $15 million worth of BONK, quadruple its value from last month.
Some traders predict BONK to perform well in the next months as the market becomes optimistic around the next Bitcoin halving.
We may also expect Ethereum ETFs, and BONK, a meme token with no fundamentals, regularly rides market waves.
In the next weeks, Bonk might reach $0.000030, then $0.000040 in summer.
