Bonk Price Prediction as BONK Bounces 7% – New Rally Starting?

Bonk price sees 7% increase today, reaches $0.00001274 as cryptocurrency market gains 5% in past 24 hours.

Simon Chandler Last updated: February 13, 2024 06:48 EST | 3 min read

Source: Midjourney

The Bonk price has risen by 7% today, lifting to $0.00001274 as the cryptocurrency market enjoys a 5% gain in the past 24 hours.

This move puts BONK at a 26% increase in a week and, despite losing 13.5% in a month, a 1,400% gain in the past year.

• Coinbase’s New Ad Campaign Highlights the Potential of Blockchain to Revitalize Pennies
• Aquanow Acquires VASP License in Dubai: Boosting Crypto Services in the Middle East 🏦💱
• Hypeloot is transforming online gambling with AI and Blockchain.

And what’s important about today’s bounce is that it shows how the market remains interested in BONK, which had seemed to be on something of a long-term decline prior to the market’s recent rally.

This could mean that the Solana-based meme coin is about to begin a new rally in the coming days and weeks, particularly as the market becomes more bullish.

BONK price prediction Is the 7% bounce signaling the start of a new rally?

BONK’s indicators have improved since this week’s market-wide rally, although they don’t look entirely convincing.

The meme coin’s relative strength index (purple) had risen back up to 60 in the past couple of days, but it has actually dipped a little this morning, suggesting that it’s having trouble accumulating any more momentum.

Source: TradingView

Similarly, BONK’s 30-day average (yellow) is rising again in relation to its 200-day (blue), yet its ascent is very shallow, signaling that its current buying pressure isn’t particularly strong.

It’s also worth pointing out that, while its 24-hour trading volume has risen to about $120 million today, this is still a long way off from the levels it enjoyed in early January (c. $500 million) and in mid-December (c. $1.5 billion).

As such, it would be rash to conclude that BONK has definitely made a full comeback, with numerous less speculative cryptocurrencies (e.g., Ethereum, Solana, Render, Sei, Helium) posting bigger 24-hour gains today.

It’s also telling that, even with recent market-wide jumps, there haven’t been any big whale transfers involving BONK, suggesting that former levels of demand haven’t quite returned yet.

Still, one big BONK whale does continue to hold onto $4 million in BONK, something which suggests that they expect more gains to come.

And it’s also likely that this year’s hoped-for bull market is only just beginning, with the next Bitcoin halving ready to join rising Bitcoin ETF volumes as a major driver of increased demand.

Such demand will include BONK, which also benefits from its status as a token running on Solana, which continues to largely outperform all other layer-one alts.

As such, the Bonk price could reach $0.000020 in the next few months, before returning to $0.000030 in the latter half of the year.

Alternative Meme Tokens for Big Rallies

Given the mild element of uncertainty surrounding BONK, some traders may prefer to look towards newer high-potential meme coins, particularly those that are still in the process of listing.

An excellent example of this is Smog (SMOG), a Solana-based meme token that listed on the Jupiter and Birdeye DEX aggregators last week.

Impressively, SMOG is up by just over 1,500% since listing on February 7, providing a clear sign that it has solidified its initial gains.

Source: Birdeye/TradingView

This stands in stark contrast to the vast bulk of Solana-based meme coins, which unlike BONK and WEN have tended to rise for only a day or two before dumping completely.

The reason why SMOG has been able to distinguish itself is that it features a bullish airdrop system, which will reward participants in proportion to how many SMOG tokens they already hold (and for how long they’ve held them).

This airdrop system will, therefore, incentivize longer-term holding, which accounts for why SMOG has retained most of its value following its listing last week.

SMOG will come with a max supply of 1.4 billion tokens, with 35% of this going to airdrops, 50% to marketing, and 15% to liquidity.

Another important feature is that holders are able to stake SMOG, with the token currently offering a yield of 42% APY.

Combined with its recent gains, such a staking setup could make SMOG very profitable.

Aside from visiting Jupiter or Birdeye, investors can buy SMOG by visiting its official website.

Buy SMOG Here

---

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

---

Read More: – Bonk: From Going to Zero, Bonk Price Drops 65% – New Solana Meme Coin SMOG Explodes with Jupiter DEX Airdrop Campaign – VanEck Announces Massive $72 Million Bitcoin ETF Seeding

---

Follow Us on Google News

---

Q&A:

Q: What is the current price of BONK?

A: The current price of BONK is $0.00001274, representing a 7% increase.

Q: Has BONK experienced a long-term decline?

A: BONK had been experiencing a long-term decline prior to the recent market rally. However, the recent bounce indicates renewed interest in the meme coin.

Q: Is BONK expected to start a new rally?

A: There is a possibility that BONK will begin a new rally in the coming days and weeks, especially as the market becomes more bullish.

Q: Are there any alternative meme tokens that could rally?

A: Yes, Smog (SMOG) is a newer meme token that has shown significant gains since its listing. It features a bullish airdrop system and the ability to stake the token, making it an attractive option for traders.

Q: What is the price prediction for BONK?

A: The Bonk price could reach $0.000020 in the next few months and potentially return to $0.000030 in the latter half of the year.

---

Now that you have all the latest updates on Bonk and alternative meme tokens, make sure to stay informed and make wise investment decisions. If you found this article useful, don’t forget to share it on social media!

Article written by Simon Chandler.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!