BONK Price Prediction .
BONK was launched in December 2022 with a starting token price of $0.0000001487. It showed only a gradual growth over the next ten months before its price started surging from November 2023 onwards.
The Solana-based meme coin reached its all-time high in March 2024, with a peak price of $0.000045. However, it could not sustain the momentum for long as it traded below the $0.000030 level between April to mid-May.
Nonetheless, over the last year, $BONK has recorded a massive 7396% increase in price. With its impressive performance on the price charts in the past few days, Bonk might be close to hitting a new all-time high.
Bonk Price Prediction
Bonk has hit the ground running after it breached the $0.00003 resistance level, showcasing that the token is on a positive cycle. Two factors have contributed to its recent rally - the bullish sentiment in the broader market caused by the imminent ETH ETF approval and investorsâ increasing appetite for the token.
Presently, Bonkâs Relative Strength Index (RSI) shows that it is nearing the âoverboughtâ territory. The RSI is a tool that analyzes the extent of changes in price to show whether a token is in overbought or oversold conditions.
With the 14-day RSI of Bonk at 66.18 and its Fear and Greed Index above 70, there's no doubt that investors are betting on a price rise. However, from a technical perspective, Bonk may encounter some resistance if it enters the overbought zone as traders see that as a signal to sell. When this happens, the tokenâs price will likely witness a correction.
Therefore, investors might be better off shifting some capital to Dogeverse , a multi-chain meme coin with an attractive investment appeal.
