bitcoin
Bitcoin (BITCOIN)
$109,567 0.46%
ethereum
Ethereum (ETHEREUM)
$2,591 0.41%
binancecoin
BNB (BINANCECOIN)
$662.55 0.23%
solana
Solana (SOLANA)
$152.84 -0.11%
ripple
XRP (RIPPLE)
$2.26 0.82%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000012 0.28%
pepe
Pepe (PEPE)
$0.000010 -0.82%
bonk
Bonk (BONK)
$0.000017 3.60%
bitcoin
Bitcoin (BITCOIN)
$109,567 0.46%
ethereum
Ethereum (ETHEREUM)
$2,591 0.41%
binancecoin
BNB (BINANCECOIN)
$662.55 0.23%
solana
Solana (SOLANA)
$152.84 -0.11%
ripple
XRP (RIPPLE)
$2.26 0.82%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000012 0.28%
pepe
Pepe (PEPE)
$0.000010 -0.82%
bonk
Bonk (BONK)
$0.000017 3.60%
bitcoin
Bitcoin (BITCOIN)
$109,567 0.46%
ethereum
Ethereum (ETHEREUM)
$2,591 0.41%
binancecoin
BNB (BINANCECOIN)
$662.55 0.23%
solana
Solana (SOLANA)
$152.84 -0.11%
ripple
XRP (RIPPLE)
$2.26 0.82%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000012 0.28%
pepe
Pepe (PEPE)
$0.000010 -0.82%
bonk
Bonk (BONK)
$0.000017 3.60%
Disclosure
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BONK Price Prediction – BONK Eyes $0.00003400 as Broader Market Turns Green

Highlights:

  • BONK is trending towards resistance that, if broken, could pave the way for $0.00003400
  • Bullish sentiment follows rising prices across the market 
  • BONK’s internal dynamics also support rising bullish sentiment 

BONK (BONK) is on a strong rebound today, driven by the sudden surge in bullish momentum across the market today. When writing, BONK was going for $0.00001705, an increase of 20% intraday. BONK’s trading volumes are also on the rise in the day, up by 337.87% in the day to stand at $564.68 million. This is an indicator that buyers are coming in strongly amidst the surging price. The expectations around BONK are driven by a combination of internal dynamics and what is happening in the broader market. 

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Macro Environment Favors Parabolic Price Move for BONK

One of the macro factors that is driving the broader market rally is news that the US could be looking to use its Gold Reserves to buy Bitcoin. This is a big deal as it could mean that the world’s largest economy is completely shifting to Bitcoin as the next evolution of money and wealth storage. Not only is this likely to change the perception of the average investor towards Bitcoin, but it could send the entire cryptocurrency market into a multi-year bull run. This may explain why savvy investors are positioning themselves into BONK, one of the best meme coins in the market, and one that offers parabolic growth potential in a bull market.

Still, on the macro factors that are supporting BONK price today, is news that the US SEC is considering a new token listing standard. This would eliminate the bottlenecks that cryptocurrency exchanges have faced in the past when it came to listing new tokens. The impact is that there could be a flood of new cryptocurrency ETFs, which could significantly drive up demand in the market. With the market responding positively to this news, BONK and other meme coins that tend to do well during bull markets are sending strong bullish signals. 

BONK Funding Rate Positive Among Other Positive Internal Indicators

BONK’s internal metrics also reflect the potential it is showing at the moment. One of the best internal metrics that points to the bullish sentiment around BONK is its on-chain metrics. In the last 24 hours, net spot inflows into BONK have shot up by over 100% to stand at $1.68 billion. BONK’s funding rates are also currently in positive territory, standing at 0.00085%. This indicates that BONK futures traders are net long. There is also the growing number of BONK holders.

Once the number reaches a million, there will be a one trillion token burn. BONK is getting close to this number with its current token holders now standing at 943,000. With the burning of 1 trillion tokens, BONK would see a strong shift in its demand and supply dynamics, a factor that could push the price to new highs in the short term.

Growth In the Solana Ecosystem is Likely to Boost BONK

BONK also stands to benefit from the fact that it is a Solana-based meme coin. With an improved regulatory environment, the Solana ecosystem is expected to record strong growth going into the future. Solana meme coins are expected to do exceptionally well. BONK, being among the leaders in the Solana meme coin space, could benefit the most from a surge in capital into Solana.

Technical Analysis – BONK Price Pushing Towards Multi-Month Resistance

BONK is on the second week of gains after bears failed to push it back to the multi-week support at $0.00000961.

Bonk Price
Source: TradingView 

If bulls stay in control, BONK’s first target would be the $0.00002206 resistance. Breaching this resistance could pave the way for a rally to $0.00003400 soon.

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