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

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.

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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