Bonk Price Prediction for June 14: BONK Drops 4% – Will Whales Buy

Simon Chandler

Last updated:

June 15, 2024 at 00:28 GMT+3

| 3 min read

The Bonk price has slipped by 4% today, with the meme token’s fall to $0.00002603 coming as the crypto market as a whole loses close to 1% in the past 24 hours.

BONK has now fallen by a hefty 19% in a week and by 24% in a fortnight, although the Solana-based coin remains up by 7.5% in a month.

It’s also up by a whopping 8,600% in a year, underlining its credentials as one of the fastest-growing meme tokens in the market.

And given that it has taken a few discounts in the past couple of weeks, it should rebound vigorously very soon.

BONK Price Drops 4% – Will Whales Buy at This Level?.

As with many other coins right now, BONK’s chart shows the meme token at a short-term bottom.

It has actually already begun to bounce up from this bottom, with its RSI (purple) having fallen below 30 yesterday and risen close to 50 today.

This points to an incoming recovery, with BONK’s 30-day average (orange) beginning to settle after falling heavily in the past couple of days.

Combined with the coin’s resistance (red) and support (green) levels nearing each other, this all suggests that BONK’s recent bad fortunes may be about to improve.

It’s encouraging in this respect that, despite being down in relation to recent highs, BONK’s trading volume is still relatively healthy, at about $300 million today.

This points to ongoing interest in the token, which can help it recover from recent falls.

There’s currently no data suggesting big buys from whales in the past few weeks, yet the sustained volumes do suggest that the market for BONK remains fairly strong, in spite of its recent declines.

Many traders and analysts continue to predict big things for the meme token, particularly if it can bounce from its current support level in the next few days.

There’s every chance that it could ride along with the rest of the market as and when the recently approved Ethereum ETFs launch, which is likely to happen this summer.

Given that the stock market is still doing quite well, and given that rate cuts have been slowly happening in various parts of the world, we could witness a general lift for the crypto market in the next few months.

This will help to boost the BONK price, which could hit $0.000030 in a few weeks and $0.00005 by the final quarter of the...

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