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BONK / TetherUS

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BONKUSDT trade ideas

Will Bonk Price Fail To Maintain Recent High?The Solana-based meme token CRYPTOCAP:BONK strengthened its position in the market by ranking 69th on CoinGecko’s list of the most valuable digital currencies, marking a significant milestone as its market capitalization exceeded $1 billion for the first time. As CRYPTOCAP:BONK witnessed a skyrocketing surge in the last few hours, bears are now heavily shorting the meme coin, creating concerns of an immediate decline. Bonk’s Funding Rate Becomes Negative Bonk ( CRYPTOCAP:BONK ) experienced a massive 1,200% increase in its value over a month, crossing the $2 billion mark in market capitalization. This surge is thought to be partially influenced by its connection with the well-performing Solana. Additionally, the meme coin’s momentum was likely fueled by Coinbase announcing CRYPTOCAP:BONK ’s inclusion in its future plans and its listing on the platform. According to Coinglass, Bonk’s recent surge triggered a massive short-liquidation of nearly $1.6 million. However, its recent surge is now facing a halt as bears are increasingly opening short positions near the high. In the perpetual futures market linked to Bonk, traders are showing a bearish inclination as this meme coin struggles near resistance. According to Coinglass, the open interest and volume-weighted funding rates in perpetual futures have declined to -1.5%. This indicates that short positions, which gain from a decrease in price, are dominant. Traders holding these positions are prepared to pay those with long positions to maintain their bets on a price drop. Currently, Bonk is being heavily shorted; however, this increases the chances of a short squeeze. A short squeeze occurs when there is a sudden upward movement in price, triggered by bears closing out their bearish positions. This typically requires an unusually high level of bearish activity, as currently seen in Bonk perpetual futures. In these scenarios, even a slight increase in price can force short sellers to cover their positions quickly. This action can then create a bullish effect, further sending prices upward. The Future of CRYPTOCAP:BONK Price? CRYPTOCAP:BONK price faced resistance at $0.000035 as bears aggressively defended a surge and declined toward the 23.6% Fib channel. However, buyers aim to accumulate near the current dip. As of writing, Bonk price trades at $0.0000278, surging over 92% from yesterday’s rate. Should there be a significant recovery from the 20-day EMA, it would indicate that traders are actively purchasing during price dips. Following this, the bulls might attempt again to surpass the $0.000035 level. A successful breach could send the price toward another high. Conversely, this bullish scenario could be invalidated if the price continues to fall, breaking below the 20-day EMA. With the RSI hovering around the overbought region, short-term sellers are gaining confidence for a correction. Such a move might lead the price to drop toward its breakout point of $0.0000123. However, this level might see increased buying pressure.
Long
by DEXWireNews
BONK Surpasses DOGE and SHIB in Trading VolumeMeme cryptocurrency Bonk (BONK) outstripped trading volumes of its competitors, Dogecoin and Shiba Inu. The BONK meme cryptocurrency has surpassed both Dogecoin (DOGE) and Shiba Inu (SHIB) in 24-hour trading volume. BONK, a relative newcomer to the meme coin scene, has reported a staggering $1.37 billion in trading volume, overshadowing Dogecoin's $933 million and Shiba Inu's $225.8 million, per the latest data. This shift marks a significant milestone for BONK in the highly volatile meme coin sector of the cryptocurrency market. Rise of BONK BONK token, which has become the talk of the crypto town, saw its market capitalization briefly touch $3 billion following its listing on major exchanges such as Binance and Crypto.com. Arkham Intelligence reports that everybody is trading BONK today, with aggregated open interest on the token doubling from the previous day's lows after Binance announced its listing. Despite this surge, funding remains consistently negative, indicating a substantial number of traders are betting against the token, with $6.15 million of BONK liquidations occurring in just 12 hours. Nonetheless, BONK's price has soared by 85% in the past 24 hours. SOL challenging XRP Parallel to BONK's rise, Solana (SOL) has experienced a growth of over 5% in the same time frame. This uptick positions Solana on the verge of surpassing XRP by market capitalization. CoinGecko data suggests that Solana's valuation stands at an impressive $32.18 billion, inching closer to XRP's $34.20 billion. The success of BONE has also shone a spotlight on the Solana ecosystem's growing clout and potential within the broader cryptocurrency market.
Long
by DEXWireNews
Coinbase Announces Listing of Solana’s $BONK TokenCoinbase adds BONK token to its listing, joining the ranks of top-performing meme coins despite failure to ignite price surge. Coinbase has officially added the BONK token to its listing. BONK, a dog-themed token operating on the Solana blockchain, has gained substantial momentum in the digital currency market. BONK’s Price Analysis The addition of BONK to Coinbase’s portfolio follows a notable 350% surge in its value over the past month. This impressive growth has catapulted BONK to the forefront of dog-themed cryptocurrencies, a niche but increasingly popular sector within the broader crypto ecosystem. Despite the listing, BONK has been in a retracement for the previous 24 hours after failing to break over the 24-hour high of $0.00001311. As a result, the price of BONK fell to an intra-day low of $0.000009254, where support was established. BONK was trading at $0.00001051 at press time, down 13.57% from its 24-hour high. However, BONK has distinguished itself by outperforming established counterparts like Dogecoin (DOGE) and Shiba Inu (SHIB). Its recent 354% increase in value is a testament to its growing appeal among digital asset investors. Coinbase’s decision to list new assets like BONK stems from its commitment to transparency. The exchange aims to disseminate balanced information, ensuring investors are well-informed about potential opportunities and risks. However, Coinbase cautions users against premature deposits of these emerging tokens to avoid the risk of potential fund loss. In addition to the rise of BONK, Solana’s blockchain has made headlines with its impressive trading volume. Recording $924.7 million in 24 hours, Solana has outperformed other networks like Arbitrum, Binance Smart Chain, Polygon, Avalanche, and Thorchain in on-chain trading activity. Ethereum, however, continues to lead with a trading volume of $1.3 billion in the same timeframe. This addition of BONK to Coinbase reflects the growing diversity of assets in the crypto exchange’s portfolio. It highlights the evolving landscape of digital currencies, where meme coins are increasingly gaining serious attention from investors and major trading platforms.
Long
by DEXWireNews
1
The Bonk Price May Wipe Some of Its Gains in the Next Few Days$BONK experienced a peak at $0.0000149068 on December 9th but has not revisited this level since then. Over the subsequent days, the price of this meme coin entered a period of consolidation, fluctuating between the range of $0.0000089940 and $0.0000149068. If this period of stagnant trading persists, it's possible that traders may opt to liquidate their holdings in the cryptocurrency. If selling pressure emerges, it's likely that the Bonk price will test the immediate support level at $0.0000089940. This level is particularly noteworthy because it coincides with a medium-term positive trend line that has been forming on BONK's daily chart over the past few weeks. A breach below this threshold could expose BONK to the risk of a significant price decline. Under this bearish scenario, there's a possibility that the meme coin could drop as low as $0.0000046040 in the short term. However, this pessimistic outlook could be invalidated if the Bonk price manages to close a daily candle above $0.0000149068 within the next 72 hours. Indicators Suggest a Potential Pullback Traders and investors should monitor the daily Moving Average Convergence Divergence (MACD) and the daily Relative Strength Index (RSI) indicators. Both of these technical indicators are indicating the likelihood of a pullback in the Bonk price in the coming days. Despite the MACD line currently positioned well above the MACD Signal line, the MACD Histogram's negative slope could be an early indication of a reversal towards a bearish trend. Additionally, the RSI line is showing signs of potentially crossing below the RSI Simple Moving Average (SMA) line. Should these two lines intersect within the next 48 hours, it may signify a shift in market sentiment in favor of bears.
Short
by StevenWalgenbach
Elliott Wave ABC-Zigzag that led to a remarkable 4000% gainsHello traders and investors worldwide! Today, let's focus on a crucial Elliott Wave Pattern – the Zigzag. This corrective pattern, part of the trio, presents a high-probability trade if identified accurately. It involves an ABC decline, where waves A and C resemble an impulse (or diagonal), while B can be any corrective pattern. In the case of BONKUSDT, a careful analysis reveals that the A wave decline takes the form of a type 1 diagonal, the B wave forms a triangle, and the C wave follows a regular impulse. A break above the B extreme suggests an imminent reversal, leading to a rise above the initial pattern, possibly reaching a new all-time high (ATH). While Elliott Wave might seem complex, especially for beginners, it offers a comprehensive market perspective. Until next time, trade safely, and may the market favor you. If you find this helpful, consider leaving a like and comment.
by maonimisi
BONK/USDT 1DAY UPDATE BY CRYPTOSANDERS !!Hello friends, welcome to this BONK/USDT update from Crypto Sanders. Chart Analysis:- The surprise of the past two months is BONK, the biggest meme token on the Solana network. The price has not stopped pumping since late October and booked an eye-popping 187% increase this week alone. With such a performance, it is almost impossible to guess where BONK will top or decide to correct. Considering the market sentiment after a 70x increase from its all-time low, this Solana token could continue to rally. Looking ahead, meme tokens are back in the spotlight, and BONK holders have the time of their lives. I have tried to bring the best possible results in this chart. If you like it, hit the like button and share your charts in the comments section. Thank you.
Long
by CryptoSanders9563