The Bonk price has pumped 8% in the last 24 hours to trade at $0.00001368 as of 11:15 p.m. EST on trading volume that plunged 18% to $172.9 million.
The Bonk price has been range-bound amidst profit-taking in Solana throughout January, with an attempted breakout in Bonk price stalling due to a Solana outage.
Despite this setback, Bonk’s price momentum persisted, bouncing back from a robust support level near $0.0000098, accompanied by a significant surge in trading volumes.
Bonk Price Signals Bull Rally Rebounding On $0.0000098 Support
BONKUSD Analysis by Tradingview.com
The BONK price indicates a shift upwards from the support zone at $0.00001286 after a prolonged period of consolidation.
However, the bulls faced rejection at $0.00003552, allowing the bears to take control, exerting downward pressure on the price and causing it to retreat to the established support level at $0.00001342, which has proven impenetrable.
This price decline has formed a descending triangle pattern, indicating a potential bearish trend continuation if the price breaks below the support zone. However, if the bulls sustain the bullish momentum, they could propel the price above the triangle’s upper boundary.
The Bonk price finds support from the 50-day Simple Moving Average (SMA), providing some respite for the bulls. However, if the bears continue the downtrend, a break below the 50-day SMA could pave the way for a sustained downward trend, with bulls potentially regrouping around the $0.000005608 level.
The Relative Strength Index (RSI) reflects the prevailing bearish sentiment, as it has declined from 87 to 40, indicating significant bearish pressure in the market.
The MACD shows signs of rebounding as the blue line crosses the orange signal line, though it is still below the neutral position. A sustained upward momentum could see the MACD cross the neutral position to join the histogram, which indicates positive momentum.
The Bonk Price Prediction
The Bonk price support level at $0.000009560 appears strong, preventing the bears from further profiting. This has allowed the bulls to regroup and push the price upwards. If the momentum sustains, the bulls could push the price upward to the $0.00003552 resistance level, representing a potential 180% increase from the current price.
However, if bearish pressure continues, there is a risk of BONK descending below the lower boundary of the descending triangle, potentially reaching the support zone at $0.000005608.
Meanwhile, the surge of meme coins on the Solana blockchain continues to attract worldwide attention, with names including Myro, Dogwifhat and Honk all grabbing headlines this year.
SMOG is the latest Solana meme coin to grab the spotlight after its spectacular launch last week on the Jupiter DEX. Investors looking for more turbocharged gains might consider checking it out.
SMOG Unveils Airdrop: The Next Big Crypto Giveaway To Watch
The SMOG token is a newcomer to the Solana blockchain meme coin scene that has quickly gained popularity and achieved remarkable growth since its launch on the JUP exchange.
SMOG joins the ranks of hot pair meme coins on Solana, positioning itself as a direct challenger to BONK’s dominance with its slogan, “One meme coin to rule them all.”
The SMOG price has surged by 9.9% in the past 24 hours, reaching a trading value of $0.07484 as its market capitalization surged to $104 million after it earlier spiked to a new ATH.
Final Call: Buy $SMOG Now, Receive The Biggest Airdrop Ever
$SMOG promises the mother of all airdrops to its investors that will surpass even Jupiter’s monumental $700 million airdrop on Solana that helped mint many millionaires.
$SMOG has already built a strong community and, as a $SMOG holder you qualify for a portion of a community bounty generated by the campaign, further incentivizing you to hold onto your tokens.
Jacob Bury, a crypto analyst and YouTuber, says SMOG is a project with a 1000X return potential.
There’s also another reason to buy SMOG right now. With markets rallying on the back of the start of the Chinese Lunar Year of the Dragon, the Solana-based Smog token is likely to benefit. This is because the dragon theme of Smog will make it appealing to Chinese crypto communities.
Smog holders are nicely placed to benefit as festive celebrations across Chinese communities around the world draw in investors who want to capitalize on the lucky appeal of the season and Smog’s dragon theme.
Loaded with money from traditional ”red packet” gifts, they’re in very high spirits and more likely than ever to invest their surplus cash.
You can buy the SMOG token on its official website to be eligible for the historic airdrop soon. You can also buy directly on the Jup DEX.
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