Will The Bonk (BONK) Price Dominate Memecoin Run This Month?

The post Will The Bonk (BONK) Price Dominate Memecoin Run This Month? appeared first on Coinpedia Fintech News

The memecoin category has experienced a significant uptrend over the past few hours with many tokens recording a double-digit gain. Following this, the Bonk price broke its 6th consecutive red-day streak.

With increased volatility in the cryptocurrency market, is this a crucial time to stack memecoins in your portfolio? In this article, our expert panel has covered in-depth insights and possible price analysis of the Bonk (BONK) meme coin.

Bonk Price Records Increased Price Volatility!

Despite recording a jump of 4.28% in the past 24 hours with a trading volume of $116.99 million, the Bonk memecoin has dropped 13.36% over the past week and 8.36% during the past 30 days.

TradingView: BONK/USDT

The Moving Average Convergence Divergence (MACD) has displayed a constant red histogram in the 1D time frame with its averages showing a steady decline. This highlights a negative outlook for it in the coming time.

The EMA 50/200-day has recorded a Death Cross in the BONK price chart. This suggests that the memecoin may continue losing value this week.

Will BONK Meme Coin Retest $0.000025 This November?

If the market favors the bulls, the Bonk price will retest its resistance level of $0.00002125. Moreover, if the bulls dominate the crypto space during the last leg of 2024, this could result in it heading toward its upper resistance level of $0.0000250.

On the flip side, if the bears outrun the bulls, this could result in the Bonk coin price dropping toward its support level of $0.0000150. Further, if the bulls fail to regain power at that point, this could pull the price toward its $0.000010 mark this year.

Curious to find out the long-term price possibilities of this Memecoin? Read our Bonk (BONK) Price Prediction article!

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