👀 According to AMBCrypto: Will BONK or FLOKI become a top 3 memecoin?
#BONKUSTD Despite this update, the price of both of these tokens suffered over the last 24 hours. At the time of writing,
$BONK witnessed a drop of 2.16% and was trading at:
- $0.00002642 on Gate.io exchange
- $0.00002645 on WhiteBIT exchange
- $0.00002645 on OKX echange
The correction was part of a larger trend that started on the 4th of March. After testing the $0.00004820 levels, the price of BONK fell materially while exhibiting multiple lower lows and lower highs, indicating a bearish trend.
The price fell till the $0.00001934 level before witnessing an upward momentum, which could have been driven by the recent Binance update.
However, the uptick wasn’t significant enough to reverse the ongoing trend. Bonk’s CMF (Chaikin Money Flow) also declined during this period, implying that the overall money flow for the memecoin has fallen.
#FLOKI🔥 $FLOKI , on the other hand, witnessed a significant correction of 7.72% in the last 24 hours. At press time, FLOKI was trading at:
- $0.0002294 on OKX exchange
- $0.0002292 on KuCoin exchange
- $0.0002293 on WhiteBIT exchange
While a 7% decline in price may appear significant at first glance, when considering the broader price chart of SHIB, it doesn’t appear to be particularly substantial.
The price was still observed to be moving particularly close to the $0.0002558 level which had been tested multiple times. If momentum around the token is picked back up, the price of FLOKI may test the $0.0003092 level that has already been tested in the past.
However, the RSI was at 48.31 at the time of writing, indicating that the price may move sideways for some time before making a large move in either direction.