The Solana-based meme coin, Bonk (BONK), has experienced a drop in price from $0.000025 to its current value of $0.000019. Analysis suggests caution as the social dominance for Bonk has decreased, indicating a decline in mentions of the coin on social media and a potential decrease in demand. Additionally, the Chaikin Money Flow (CMF) has dropped below the zero signal line, suggesting market participants are distributing the coin and potentially leading to further price declines. With decreasing trading volume and the possibility of falling below $0.000019, Bonk's price could drop to the historically weak support level of $0.000017. However, if meme coin prices rise, the bearish prediction could be invalidated and the price of Bonk could potentially climb to $0.000024 and even reach $0.000032 by the end of the year.



Other News from Today