$500M Trading Volume Pushes BONK Towards $1

Today, BONK is worth $0.00002108, down 6% in 24 hours and 16% in a week.

As the crypto market drops 3% in a single day, concerns over the Middle East, the US election and the global economy are driving prices lower.

The meme coin, which is ranked 61st by market volume, is still up 27% in a month and over 9,000% in a year despite its recent struggles.

Despite the sell-off, BONK trading volume remained high at $500 million, indicating continued demand.

BONK is definitely on the decline and may have to go further before it recovers.

Its Relative Strength Index (purple) has dropped from above 70 a few days ago to near 40 today, with more room to fall before it becomes oversold.

Most importantly, BONK's 30-period average (orange) has fallen below its 200-period average (blue), creating a "death cross" that typically signals a major breakdown.

With the increased selling demand today, BONK's strong trading volume could herald a short-term decline.

We haven't seen any major BONK transfers in weeks, but the largest whale still has 2.41 trillion BONK.

This equates to $50 million and 2.5% of the meme token supply.

The whales' holding onto their BONK coin during the recent ups and downs suggests that they expect it to rise much higher over time.

Given that BONK, which was founded on Solana, was one of the top 100 coins this year, this is likely to happen.

Bonk price could rise by 380% to $0.00010200 in 2025, according to our forecast.

That may sound ambitious, but the market has rallied in recent weeks after the Federal Reserve cut interest rates.

As one of the most popular coins, BONK is likely to ride any market wave.