Bonk Price Forecast: Daily Volume Hits $900M Are Whales Buying?
BONK’s 24-hour trading volume surged to $900 million, suggesting there may be whale activity even as prices experience a temporary pullback.
BONK price has dropped 5.64% in the past 24 hours to $0.000033. This comes amid a correction across the crypto market.
BONK gained 35.43% over the past week, showing a continuation of its monthly price growth of 21.82%.
According to Binance data, this altcoin has achieved a staggering 7,990.65% return over the past year.
This is significant compared to the returns of major tokens such as BTC, ETH, and SOL over the past 12 months, indicating that BONK has gained widespread attention among investors.
With its 24-hour trading volume rising to $902.9 million in the past few hours, it appears that its short-term momentum may be hinting at a rebound.
BONK Price Prediction – Are Whales Buying?
After falling early this morning, BONK appears poised to rebound again.
In particular, its relative strength index (purple) fell from 90 to 35 in the past 24 hours. This indicates that BONK is oversold, possibly undervalued, and a price rebound may be imminent.
Other indicators support this, such as the continuation of the positive trendline (yellow). This suggests that the recent pullback is temporary and does not represent a complete shift in momentum.
Additionally, the meme coin’s 30-day moving average (orange) continues to rise above the 200-day moving average (blue), confirming the ongoing uptrend.
Supporting this view is the coin’s trading volume, which reached $900 million and increased by 33% in the past week alone. This suggests that some big players may flood the market.
Although BONK has no actual fundamentals as a meme coin, it often fluctuates with the overall market movements.
Therefore, the return of 2021 market catalyst Roaring Kitty (the trader famous for sparking the GameStop frenzy), as well as the recent approval of multiple U.S. Ethereum spot ETFs, may serve as catalysts for further gains in BONK.
Therefore, the price of BONK may reach $0.000040 during the summer.
The surge in alt-meme coins
Given that BONK's market capitalization has reached $1.7 billion, whether it can achieve truly significant gains in the future remains a question.
As a result, traders are scrambling to find the next small-cap meme coin poised to break out.
Enter the Dogeverse, the latest Shiba Inu-inspired Solana meme coin that has captured the attention of meme enthusiasts, speculators, and cryptocurrency enthusiasts alike. Some believe it has 100x potential.
Dogeverse is the first Doge meme token built on a multi-chain network, covering Ethereum, BNB chain, Polygon, Solana, Avalanche and Base.
Its cross-chain jumping function is seen as a preview of the future potential of meme coins. This may be the reason for $DOGEVERSE’s recent success, with its pre-sale raising over $15 million.
You can also stake $DOGEVERSE tokens on Ethereum to earn passive income, giving it the potential to be one of the next best passive income gems.
With the current price of $0.00031, $DOGEVERSE is at its last fixed price before listing. This means that when the coin hits the open market via exchanges, there’s a good chance the price will never be this low again.
Follow Dogeverse’s latest updates on the X account.
Buy Dogeverse here: https://cn.cryptonews.com/ext/dogeverse-cn/
YouTube video: https://youtu.be/MEzdehCWEPI?si=scDKyDreSJZOPjmp
Original text: https://cn.cryptonews.com/news/bonk-price-prediction-as-daily-volume-hits-900-million-are-whales-buying.htm
