Latest BONK Memecoin Price Prediction

Bittime - BONK attracted attention after experiencing a significant price increase. So, what is the latest price prediction for BONK? Check out the complete review in this article.

With its value continuing to climb, BONK has become a hot topic among the crypto community, especially with hopes that this token can reach a price of $0.1 (around Rp. 1,570) per coin. This article reviews BONK's price trends, technical patterns, and analysts' views on its future.

A Glance at BONK Price Increases

Since the last few months, BONK has shown an upward trend that has attracted attention. After previously experiencing a decline, the price soared again, reaching a five-month high of $0.000034 (around Rp. 0.53) per coin. 

This marked a turning point for the token, which managed to cross the previous resistance level of $0.00002613 (around Rp. 0.41) and established it as a new support level.

Additionally, BONK formed a technical “golden cross” pattern, where the 50-day and 200-day moving averages show a crossover pattern that is often interpreted as a bullish signal. In many cases, this pattern is an indication of the potential for greater price increases in the long term.

Read also: Bonk Price ($BONK) Jumps Due to Burning Event, Can It Still Go Up?

Patterns and Indicators Supporting BONK's Rise

Technically, BONK has surpassed the third resistance level of the Woodie pivot point and the overshoot point on the Murrey Math line. This indicates strong momentum from buyers. 

The coin also retested the key resistance level at $0.000034, which it reached last June before dropping 55% to $0.0000155. Currently, the Supertrend indicator is also showing green, giving a strong bullish signal.

However, to maintain its uptrend, BONK needs to continue above this level. If the coin is able to break through this level solidly, there is potential for the BONK price to surge up to 50% and reach a record high this year at $0.000044 (around IDR 0.69). 

Conversely, if the price falls below $0.000028 (around Rp. 0.44), this could be a sign of a bearish "shooting star" pattern, which signals a potential trend reversal.

Can BONK Reach $0.1?

The prediction that BONK could reach $0.1 is still being debated. With the current price at $0.000034, to reach the $0.1 target, BONK price would need to rise by 294.018%. 

While this surge is not impossible in the crypto world, its probability in the short term is still low. However, optimism among analysts is still high, considering market conditions are driven by positive sentiment towards crypto as a whole.

In an analysis on social media X, popular crypto analyst ZerO estimates that BONK could reach a market capitalization of $30 billion (around IDR 471 trillion). 

For that to happen, BONK prices would need to increase 1,400% to $0.00042 (around Rp. 6.6) per coin. This prediction is indeed ambitious, but it does not rule out the possibility that demand for BONK continues to increase in the future.

Read also: SEND Airdrop for Users Who Have Locked Over 100 Million BONK

Effect of Listing on the Exchange and Increase in Trading Volume

One of the factors driving the increase in BONK prices is the listing on Binance US. Starting November 13, BONK/USDT will be available on the platform, opening access to thousands of new investors. Historically, crypto assets often experience price spikes after being listed on major exchanges, especially when trading volume increases sharply.

BONK also recorded an increase in trading volume on the DEX (decentralized exchange) platform. The memecoin reached more than $60 million (around IDR 942 billion) in two consecutive days, according to Solscan data. 

In addition, open interest for the BONK futures contract reached $16.6 million (around IDR 260 billion), the highest level since May 30, indicating high interest from investors.

Conclusion

BONK has a lot of potential to continue to experience price increases. Primarily, due to high interest among investors and support from positive technical trends. 

The combination of listing on a major exchange, increasing trading volume, and a bullish technical pattern makes BONK one of the memecoins to watch.

However, it is important to remember that the crypto world is highly volatile and risks remain. A surge of 294,018% to $0.1 is possible in the best case scenario, but investors should remain vigilant and conduct in-depth research before making any investment decisions.

If the crypto market remains bullish, BONK could continue its rally and approach its ambitious price targets. Despite the big challenges, BONK is proof that community-based memecoins can bring interesting opportunities to the crypto market.

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