June 25, 2024 12:51 CEST
| 3 min read
The memecoin Bonk (BONK)based on Solana, stands out from the others thanks to a market cap of $2 billion and total value locked (TVL) above $416 million.
Recently, however, BONK has suffered a sharp decline and now questions arise about the potential reasons behind the sell-off and the impact it will have on future price movements.
Despite the recent decline, Bonk has reached an all-time high (ATH) three months ago, driven by a series of bullish trends indicating strong market interest, which is why we will delve deeper into the price forecast of BONK analyzing key technical indicators and levels that traders should monitor closely.
The momentum of the market and key indicators
The strong performance that Bonk recorded three months ago, reaching an all-time high driven by bullish trends, has created lasting positive momentum for the memecoineven during previous market downturns.
As market sentiment improves, Bonk has positioned itself as a memecoin to watch for potential continued growth throughout this year.
Key points:
- Bonk holds the highest rating among Solana-based memecoins.
- Market capitalization: $2 billion; TVL: $416 million.
- It reached the ATH three months ago amid bullish trends.
Bonk price prediction
At the moment, BONK is exchanged at $0.000022, up 3.45%; the pivotal point is marked a $0.0000229a crucial level for traders to keep an eye on.
Immediate resistance is seen at $0.0000242with subsequent resistance levels at 0.0000257 And $0.0000271. These resistance levels indicate potential upside targets if the price manages to break through the pivot point.
On the downside, however, immediate support is found at $0.0000213with additional support levels at 0.0000199 And 0.0000180 dollars.
Monitoring these support levels is crucial for traders, as they indicate where the price might find stability if it starts to fall.
Technical indicators provide further information on the outlook.
The relative strength index (CSR) stands at 62, suggesting that the asset is approaching overbought territory but is not yet in a critical zone.
The exponential moving average (EMA) at 50 days is positioned at $0.0000212providing further support and indicating the strength of the current trend.
A key factor to consider is the downtrend line, which is extending resistance near the level $0.0000229.
Closing the candles below this level has the potential to drive a selling trend, reinforcing bearish sentiment; however, if BONK If it manages to break this level, it could strengthen the bullish trend and mark a potential upside.
In conclusion, the prospects for BONK remain bearish below the pivot point of $0.0000229. Traders should carefully monitor these key levels to make informed decisions.
A break above immediate resistance a $0.0000229 it could signal a change towards an uptrend, while maintaining a position below this level could lead to further declines.
Wiener AI: the AI memecoin that bites
The new AI-powered meme coin with the playful theme of a sausage dog, Vienna AI (WAI)is attracting great interest from investors.
- Beyond the meme: The platform Wiener AI offers advanced AI trading tools, making it more than just a novelty. The project has already raised more than $6.3 million in its pre-sale, reflecting strong demand.
- AI Boom: The growing popularity of AI, especially after Nvidia’s strong results, is expected to further fuel demand for it WAI token.
- Passive Income Potential: The WAI token It also offers significant passive income opportunities. With 20% of the total offering going towards staking rewards, investors can earn 180% APY.
- Expert approval: The famous cryptocurrency analyst Michael Wrubel has identified the WAI token as one of its top cryptocurrencies for 2024.
- Time to act: The pre-sale price of WAI is currently $0.000722, and is expected to increase soon. Early investors could make significant gains if WAI achieved market leadership.
Cryptocurrencies are highly volatile and unregulated. No consumer protection. A profit tax may apply.
