Bonk Price Prediction: BONK/USD Chart Analysis Hints At A Sustained Bullish Rally

The Bonk price surged 96% in the last week, despite dropping 5% in the last 24 hours, to trade at $0.00005071 as of 11:36 a.m. EST

The price of Solana (SOL) meme coin, Bonk (BONK), has surged 96% in the last seven days. Despite dropping 5% in the last 24 hours, the meme coin was trading at $0.00005071 at 11:36 a.m. EST on Monday, March 6.

The price of BONK earlier hit a new all-time high (ATH) of $0.00005627 before paring some gains.

The price of Bonk has seen a massive surge in the last few days, following its launch on Feb. 25. The meme coin, which is available on Solana, has seen a huge demand, with its price rising over 2,400% since launch.

However, the price of Bonk has also seen some volatility, with the meme coin dropping over 15% in the last 24 hours.

But despite the recent pullback, the price of Bonk is still showing signs of strength, with the meme coin up over 96% in the last seven days.

If the price of Bonk continues to rise, it could soon reach the $0.0001 price level. However, if the bears push the price of Bonk lower, the 50-day and 200-day Simple Moving Averages (SMAs) could act as the next possible support levels.

Meanwhile, investors looking for alternative investment options may want to consider Crypto All-Stars (STARS), which 99Bitcoins, a prominent crypto channel on YouTube with over 706K subscribers, says has the potential to soar 100X after its launch.

Crypto All-Stars Presale Secures Over $4.2 Million – Best Crypto To Buy Now?

The Crypto All-Stars project is revolutionizing the meme coin ecosystem through its innovative MemeVault protocol. This smart contract allows investors to stake multiple meme coins in one place for the first time while being rewarded with STARS tokens.

Why Is Everyone Excited?

In its initial presale phase, Crypto All-Stars raised over $350k! 💰

This early success shows that investors see BIG potential here. 🚀

Could this be the next $PEPE? 👀

— web3telepath (@web3telepath) August 15, 2024

Crypto All-Stars will initially offer staking for 11 meme coins: Pepe, Dogecoin, Shiba Inu, Floki, Brett, Mog Coin, Milady, Turbo, Toshi, Coq Inu, and Bonk. The project already plans to add more meme coin options in the coming months.

You can also earn passively through the project’s native staking mechanism, which offers an eye-popping 410% annual percentage yield (APY).

If you would like to join investors who have pumped $4.2 million into the project since its launch, you can buy the token now for $0.0015806.

The price will increase in slightly less than 3 days, so don’t wait too long to buy if you want the best deal.

Purchase $STARS from its official website here using BNB, USDT, or a bank card.

The Bonk price has been on a consolidated phase from late September to the beginning of November, as the bulls and bears struggled for dominance within the $0.000020 range, according to data from GeckoTerminal.

Now, BONK has crossed above both the 50-day and 200-day SMAs, which is a confirmation of the prolonged rally. Moreover, the 50-day SMA has crossed above the 200-day SMA, forming a golden cross around $0.00002211, which further cements the bullish stance.

The Relative Strength Index (RSI) is at 62.31, which is near the overbought zone (typically 70+). While it’s not extremely overbought yet, the recent rally suggests caution. If RSI moves above 70, it could indicate a potential reversal or consolidation as the price might be overextended. Current RSI levels suggest there may still be some room for upward movement, but traders should monitor for signs of weakening momentum.

The MACD is in a bullish phase, with the MACD line (blue) above the signal line (orange) and both above the baseline (zero level).

The widening gap between the lines indicates strong bullish momentum. However, such sharp moves can often lead to exhaustion, so watch for any signs of convergence (lines coming closer together) as a signal of waning momentum.