BONK Price Rallies 10% in 24 Hours with $500 Million Volume: Can It Overtake Shiba Inu?
Over the last 24 hours, the BONK price has rallied a significant 10.35% amid a wider market decline, where meme coins experienced a net 1.4% decline.
Interestingly, indicators are hinting towards further upside.
Over the past week, BONK recorded a 19.28% gain. This impressive increase contrasts with the losses observed in major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), which have seen retracements.
This performance highlights a resurgence from BONK, making headway to recover from the 20.27% loss it has made over the past month.
Indeed, despite less than optimal price action in recent weeks, trader interest in BONK remains robust – the coin’s trading volume has surged by 99.02% over the past 24 hours.
BONK Price Approaches Key Resistance- Can It Overtake Shiba Inu?
After its surge in the early hours of this morning, it appears that the BONK price is primed for further upside.
Most notably, BONK appears to be approaching a retest of the $0.00002568 support level (dark grey) following a failed attempt to push through resistance. If it can decisively bounce off this support, it would indicate resilience and further upside potential.
This prospect is supported by the meme coin’s relative strength index (RSI) (purple), which has decreased to 55 from 85 since its failed resistance test.
This represents a pullback from overbought conditions to more stable ones, mirrored in the slight price correction.
However, while 55 represents a neutral stance, it still airs on bullishness. Therefore, it would be credible to interpret this as a cool down, forming a stronger foundation before further upside.
Wider trends suggest this may be the case. Most significantly, the 30-day moving average (yellow) is trending steeply upwards, sitting comfortably above the 200-day moving average (blue), which is showing a moderate incline.
This suggests that, despite the correction, BONK displays strong short-term momentum. Additionally, the overall long-term trend is improving, reinforcing a positive outlook for the asset.
But is this enough to tackle Shiba Inu’s dominance? While technical indicators suggest positive short-term price movements, sustainable long-term growth will likely hinge on fundamental factors.
Notably, Traders are moving to the next generation of meme coins for a shot at the podium, which leverage more than just beloved memes and a devoted community—they have real utility.
This Low Cap Memecoin is a Real SHIB Competitor
As the leading hype-based coins reach multi-billion dollar market caps, their biggest gains are behind them, and traders are hungry for new opportunities.
Enter Base Dawgz, the latest Shiba Inu-inspired meme coin whose cross-chain capabilities hint at the future utility of meme coins.
Shiba Inu gained fame through viral appeal and community-driven promotion, quickly becoming a favorite among meme coin investors.
Endorsements from influential figures helped it rise from obscurity to prominence.
In contrast, Base Dawgz has redefined community engagement with its innovative share-to-earn system.
Did you know you can bring people to Base Dawgz and earn from it?
Find out more at our website. Link in bio
pic.twitter.com/qvHuDO2LpA
— Base Dawgz (@BaseDawgz) June 26, 2024
This strategy places community members at the heart of Base Dawgz’s promotional efforts, contributing to its recent success, with over $2.3 million raised in its presale so far.
By sharing $DAWGZ-related content on social media, users earn points redeemable for rewards. This incentivizes active participation, creating a self-sustaining cycle of growth and engagement.
While details on the exact reward structure are yet to be released, the promise of staking opportunities is already generating buzz among potential investors. This makes $DAWGZ an appealing prospect for those looking to maximize their investment.
Buy in now to catch this potential stratospheric new meme coin at its lowest possible pre-launch price of $0.00581.
Check out the Base Dawgz community on X and Telegram.
The post BONK Price Rallies 10% in 24 Hours with $500 Million Volume: Can It Overtake Shiba Inu? appeared first on Cryptonews.
Read More
BONK Price Rallies 10% in 24 Hours with $500 Million Volume: Can It Overtake Shiba Inu?
Over the last 24 hours, the BONK price has rallied a significant 10.35% amid a wider market decline, where meme coins experienced a net 1.4% decline.
Interestingly, indicators are hinting towards further upside.
Over the past week, BONK recorded a 19.28% gain. This impressive increase contrasts with the losses observed in major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), which have seen retracements.
This performance highlights a resurgence from BONK, making headway to recover from the 20.27% loss it has made over the past month.
Indeed, despite less than optimal price action in recent weeks, trader interest in BONK remains robust – the coin’s trading volume has surged by 99.02% over the past 24 hours.
BONK Price Approaches Key Resistance- Can It Overtake Shiba Inu?
After its surge in the early hours of this morning, it appears that the BONK price is primed for further upside.
Most notably, BONK appears to be approaching a retest of the $0.00002568 support level (dark grey) following a failed attempt to push through resistance. If it can decisively bounce off this support, it would indicate resilience and further upside potential.
This prospect is supported by the meme coin’s relative strength index (RSI) (purple), which has decreased to 55 from 85 since its failed resistance test.
This represents a pullback from overbought conditions to more stable ones, mirrored in the slight price correction.
However, while 55 represents a neutral stance, it still airs on bullishness. Therefore, it would be credible to interpret this as a cool down, forming a stronger foundation before further upside.
Wider trends suggest this may be the case. Most significantly, the 30-day moving average (yellow) is trending steeply upwards, sitting comfortably above the 200-day moving average (blue), which is showing a moderate incline.
This suggests that, despite the correction, BONK displays strong short-term momentum. Additionally, the overall long-term trend is improving, reinforcing a positive outlook for the asset.
But is this enough to tackle Shiba Inu’s dominance? While technical indicators suggest positive short-term price movements, sustainable long-term growth will likely hinge on fundamental factors.
Notably, Traders are moving to the next generation of meme coins for a shot at the podium, which leverage more than just beloved memes and a devoted community—they have real utility.
This Low Cap Memecoin is a Real SHIB Competitor
As the leading hype-based coins reach multi-billion dollar market caps, their biggest gains are behind them, and traders are hungry for new opportunities.
Enter Base Dawgz, the latest Shiba Inu-inspired meme coin whose cross-chain capabilities hint at the future utility of meme coins.
Shiba Inu gained fame through viral appeal and community-driven promotion, quickly becoming a favorite among meme coin investors.
Endorsements from influential figures helped it rise from obscurity to prominence.
In contrast, Base Dawgz has redefined community engagement with its innovative share-to-earn system.
Did you know you can bring people to Base Dawgz and earn from it?
Find out more at our website. Link in bio
— Base Dawgz (@BaseDawgz) June 26, 2024
This strategy places community members at the heart of Base Dawgz’s promotional efforts, contributing to its recent success, with over $2.3 million raised in its presale so far.
By sharing $DAWGZ-related content on social media, users earn points redeemable for rewards. This incentivizes active participation, creating a self-sustaining cycle of growth and engagement.
While details on the exact reward structure are yet to be released, the promise of staking opportunities is already generating buzz among potential investors. This makes $DAWGZ an appealing prospect for those looking to maximize their investment.
Buy in now to catch this potential stratospheric new meme coin at its lowest possible pre-launch price of $0.00581.
Check out the Base Dawgz community on X and Telegram.
The post BONK Price Rallies 10% in 24 Hours with $500 Million Volume: Can It Overtake Shiba Inu? appeared first on Cryptonews.
Read More