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Cryptocurrency News Articles
Bonk (BONK) Price Prediction: Is a 500% Surge in October Possible?
Sep 21, 2024 at 05:01 pm
SOL meme coin BONK has experienced significant growth over the past months, with recent price trends and market dynamics pointing to the potential
SOL meme coin BONK has surged by 6.66% over the past two days, attracting attention with a massive 66% spike in trading volume. This price action, coupled with growing market interest, is setting the stage for a potential 500% price surge in October.
Let’s delve into BONK’s recent price movements from a technical perspective, exploring bullish signals and potential price targets.
Moreover, we'll uncover an emerging crypto project, Memebet, which is making waves as Web3’s first meme coin casino. Currently, the project has raised over $250k in its ICO.
Bonk (BONK) price analysis
The standout factor in BONK’s recent price movements is the massive 66% surge in trading volume over the past 24 hours. This spike in trading activity is a clear indication of growing market interest in BONK, especially among traders and investors.
With a market cap of about $1.28 billion, BONK is still relatively underpriced despite ranking among the top meme coins. As the fourth or fifth largest in its category, BONK is considered undervalued and primed for growth.
From a broader market view, BONK’s macro structure allows for a potential 36% drop without losing its bullish trend. This creates an opportunity for strategic accumulation, where investors can dollar-cost average (DCA) during market dips and prepare for a strong upside when sentiment shifts. Accumulating in downturns could lead to substantial gains when the market reverses.
As highlighted by our technical analysis, BONK’s price is forming a falling wedge pattern, a classic technical signal often preceding a bullish breakout. This pattern points to an imminent break to the upside, especially as the crypto market shows signs of recovery.
A breakout could push BONK’s price up by roughly 79.81%, with the potential breakout level around $0.00002089. Investors should watch for a move above this critical level, which could trigger significant upward momentum.
Momentum indicators on the daily chart suggest that BONK’s downward momentum is slowing, hinting at an upcoming upward price movement. Once momentum shifts, BONK could break through key resistance levels, opening the door for further gains.
On the 4-hour chart, BONK is interacting with its volume-weighted average price (VWAP), a level that has been highly reactive to price movements. While a minor rejection at this level is possible, a steady bullish trend could drive the price higher, leading to a major breakout.
Memebet (MEMEBET): A low-cap altcoin to consider
The excitement around meme coins is spilling into ICOs as hopes for an October bull run grow, and the new presale token MEMEBET is gaining momentum. GambleFi, the project behind MEMEBET, is creating a crypto casino for meme coins and has already raised over $250,000 since its launch last week.
How did they raise these funds so fast? Big investors are jumping in to get early access to $MEMEBET at low prices. One investor bought 2 million tokens for $50,000 last week, while another grabbed 134,000 tokens for $3,300.
Investors can still buy MEMEBET during the presale for $0.0252, but the price is expected to rise as the campaign continues. For more information on how to buy Memebet tokens, potential investors can refer to our detailed guide.
Source – Memebet Twitter
MEMEBET combines the growing online casino and meme coin industries, attracting early interest right from the start. The Memebet Casino lets players bet their favorite meme coins, like $SHIB, $DOGE, and $PEPE, on games, slots, and sports betting.
According to the whitepaper, users can access the casino directly through Telegram without KYC verification, making it easy for crypto users to start playing by connecting their wallet. On top of that, Memebet has an airdrop campaign for early community members.
The first season rewards players who get involved from day one, with future seasons set to continue rewarding loyal users. The more $MEMEBET tokens a player bets, the bigger their airdrop rewards will be. MEMEBET holders will receive more than airdrops.
They’ll also get casino bonuses, Lootboxes, bigger rewards, access to a VIP group, and more. Lootboxes are a big part of Memebet, giving out real prizes like NFTs, cash, and signed Messi shirts—something new in the industry.
Memebet is not following the typical meme coin model. It stands out with strong tokenomics, key partnerships, and a focus on rewarding its community. Though still new, Memebet could be a meme coin worth watching. You can explore what the future holds for Memebet with our $MEMEBET price predictions here.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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