Bonk Price Prediction: BONK Enters Golden Pocket Zone – Full-Blown Meme Frenzy is Starting
Bonk has experienced a strong correction in the past 30 days after losing 27% of its value. However, one trader recently shared a bullish Bonk price prediction that sees the token rising by more than 80% if a key support level holds.
Trading volumes have retreated slightly in the past 24 hours to $215 million, but they still account for 13% of Bonk’s circulating supply.
The crypto market jumped exactly a week ago after the head of the Federal Reserve confirmed that the central bank will soon implement its first interest rate cut.
However, sellers have taken control of the price action this week and have flushed out a significant volume of long positions. Crypto liquidations in the past 24 hours are already surpassing $300 million.
Technical analysis shows that, as a result of this pullback, BONK is now hitting an area known as a ‘golden pocket’ where there is confluence between the 0.618 Fibonacci and a key daily...