Bitcoin price today returned to $63,000 and continues to find buyers in the key region as the article is being prepared. There are gains exceeding 5% in altcoins. So, has the right time arrived for BONK Coin, famous for its rallies among meme coins? Could the current levels be reasonable for buying?
BONK Coin Commentary
For the Solana community experiencing significant losses, BONK Coin became a lifeline. Certainly, those who waited long enough benefited from it. In its early days, it was useless and had many more zeros in its price, but today it is at attractive levels. The Solana ecosystem collapsed and while SOL Coin was on the verge of single-digit prices, BONK Coin was distributed for free to many NFT and protocol users.
No one could have predicted that the tokens distributed for free would be worth massive amounts of money a few quarters later. BONK, which triggered the meme coin frenzy on the Solana network, achieved great gains. Now, it continues to consolidate, moving away from its days of high volatility.
Investors are disheartened as BONK Coin tends to move more in sync with the market. Its positive divergence and continued rallies are losing excitement amidst abnormal fluctuations in BTC prices. We clearly see this from the funding rate.
The lack of interest in futures during inflation week shows that professional investors are not very hopeful about BONK Coin. On the other hand, the DOGE price today unexpectedly increased by 7% to $0.152. SHIBA Coin is following it. Perhaps it’s time for some of the old wolves to shake up the markets?
BONK Coin Price Prediction
Despite exceeding ADX 25, it is falling, indicating a loss of trend strength. When the indicator increases above 25, a strong upward trend is confirmed, but currently, it shows weakening investor interest. BONK’s price, lingering at $0.00002320, cannot overcome the resistance at $0.00002840, yet it maintains the support at $0.00002153. BONK Coin has been stuck in this range for roughly four weeks, and no breakout has occurred yet.
If the resistance can be overcome, we might see a new rally targeting $0.000030. However, under current conditions, violating the support could lead to double-digit losses. BTC will be decisive here, and April’s inflation data could trigger major breakouts.
