Bonk Price Prediction: BONK Is Week’s Biggest Loser With 27% Plunge, But This Would-Be Meme Coin King Hurtles Past $6.1 Million

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The Bonk worth is the most important loser this week among the many crypto high 100, plummeting 27% to commerce for $0.0000107 as of 1:00 a.m. EST time.

During the last 24 hours, the worth has dropped 8% with buying and selling quantity dwindling 5%. The droop additionally comes amid the waning of SOL meme coin mania, with Solana worth dropping 7% to turn into the most important loser among the many crypto high 10, adopted by Avalanche (AVAX).

BONK can also be the most important loser among the many high 5 meme cash.

The plunge noticed Bonk worth lose essentially the most essential assist at $0.0000138, marked by the 38.2% Fibonacci degree.

BONK Value Outlook Amid Dissipating Meme Coin Euphoria

Bonk worth stays on a downtrend, consolidating inside the confines of a descending parallel channel. So long as the Solana-based meme coin stays inside this technical formation, BONK holders are sure to incur extra losses.

Sadly, the Relative Power Index (RSI), which exhibits momentum, can also be falling, to point out shopping for strain continues to dwindle. This favors the draw back. The Superior Oscillator (AO) indicator can also be within the unfavourable territory, suggesting the bears have established a robust presence within the Bonk market, accentuated by the purple histogram bars.

Elevated vendor momentum may see the Bonk worth prolong the autumn to lose the assist because of the 23.6% Fibonacci degree at $0.0000088. Within the dire case, the droop may prolong for the Bonk worth to tag the ground of the market vary at $0.0000007. Such a transfer would represent a 92% drop under present ranges.

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TradingView: BONK/USDT 1-day chart

Converse Case

On the flipside, the Common Directional Index (ADX) indicator, which quantifies pattern power, is falling, suggesting that the power of the downtrend is weakening. Which means that the BONK worth downtrend may quickly backside out, resulting in a attainable consolidation or bounce.

If shopping for strain will increase, the Bonk worth may rise, restoring above the $38.2% Fibonacci degree. For the bearish thesis to be invalidated, nevertheless, BONK worth should retrace the 50% and 61.8% Fibonacci ranges at $0.0000179 and $0.0000220 Fibonacci ranges respectively, to fill the market vary at $0.0000278.

The above would mark a full-swing restoration rally, however for an uptrend, Bonk worth should file a better excessive above the December 15 vary excessive of $0.0000350.

In the meantime, whereas meme cash lose some momentum, there may be one sector participant, MK, which continues to shine, hurtling previous the $6.1 million mark in presale gross sales. It ranks amongst analysts’ top picks for the best meme coins to buy in 2024 with potential for exponential growth.

Promising Different To Bonk

MK is the native crypto for the Meme Kombat challenge, an revolutionary new gaming platform designed for gaming fans. The challenge is within the presale stage, boasting an impressive $6.132 million raised because it attracts close to to its $6.5 million goal.

Together with the assist seen within the presale collections, which can also be a present of perception within the challenge, the social media group can also be rising, with Telegram alone recording upwards of seven,000 members whereas X has collected 14.5K.

Buyers seeking to purchase MK can accomplish that on the official web site, the place every Meme Kombat token is promoting for $0.279. Don’t miss this funding because the presale edges nearer to the top. Bear in mind, Meme Kombat is a challenge that has the potential to face alongside meme coin titans together with Shiba Inu (SHIB), Pepe (PEPE), and Dogecoin (DOGE), which have taken the meme coin world by storm.

Token holders may reap the benefits of the staking operate, with the dashboard already stay. Stakers are already having fun with annual proportion yields as excessive as 154%, with 78% of the complete MK token bucket already staked.

Don’t look forward to battles, start incomes APY on $MK tokens right now by shopping for the presale.

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MK stake

In the meantime, YouTube crypto analysts proceed to name your consideration to the ripening alternative that’s Meme Kombat. In response to ClayBro, who boasts over 116k subscribers to his channel, this challenge has the potential to be the “largest meme coin gaming token of 2024”.

Others have even listed MK among the many best 5 coins to watch in 2024.

Go to Meme Kombat web site to purchase MK within the presale right here.

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