Bonk Price Prediction as a Millionaire Trader TheCryptoDog says BONK is about to rally – is it time to buy?

Last Updated: May 22, 2024 9:53am EDT | 3 minute read

THE Good price rose nearly 1% today, reaching $0.00003187 while the broader cryptocurrency market fell 0.5% over the past 24 hours.

BONK is now up 31% in a week and 54% in a month, as is the Solana-based meme token up a whopping 7,900% in a year.

And these gains come at a time when famous trader TheCryptoDog suggested that attention is turning to BONKhinting at a possible rally in the near future.

Bonk Price Prediction as a Millionaire Trader TheCryptoDog says BONK is about to rally – is it time to buy?

Bonk is showing some signs of a slight correction after the surge of the last two days, with its indicators reflecting a decline in momentum.

Notably, its RSI (purple) has dropped from 85 on Sunday/Monday to nearly 50 today, with the coin having plenty of room to slide further before becoming decidedly oversold.

Source: TradingView

That said, the other indicators don’t look too bad, with the 30-day average (orange) continuing to rise steadily above the 200-day average (blue), although it’s not rising as quickly today.

What’s especially good is that BONK volume remains high, just over $800 million, compared to $180 million just a few days ago.

Equally bullish are BONK’s resistance (red) and support (green) levels, which are both rising in parallel, suggesting that the coin will trade within a consistently rising range.

Much of the increase in the coin’s volume is due to renewed interest from whales, recent data indicates.

Such interest may continue for a while yet, with the broader market appearing to be entering a new bullish phase.

This is largely due to the fact that the SEC appears poised to approve several spot-based Ethereum ETFswith the deadline for one batch arriving tomorrow.

While any approval will not directly affect BONK, it will at least increase the market-wide bullish trend, thus helping Bonk’s price.

And for some traders, BONK seems more likely than many other meme tokens to rally in the near future.

This is the opinion of TheCryptoDog, for example, who recently posted on X that the coin seems to attract more interest than many of its rivals.

Therefore, we could see Bonk’s price reach $0.000035 in the coming weeks, before potentially returning to its all-time high of $0.00004547 by the fourth quarter.

New meme tokens could bring bigger demonstrations

Bonk looks poised to grow in the near future, but it’s not the only Solana-based meme token with good potential right now.

There are also a number of presale tokens which are gaining hype and momentum, with some of these likely to do well once listed.

An excellent candidate he is Sealana (SEAL)a new meme coin that raised just over $2.3 million in its increasingly popular sale.

Aiming to follow in the footsteps of BONK, WIF and other Solana-based meme coins with superior performance, SEAL is already attracting a sizable following online.

This is partly due to its meme style, with the token adopting a weaponized but lovable seal as its anthropomorphic mascot.

An interesting feature of Sealana is that it will actually be a multi-chain meme coin, with an Ethereum version of the token already active.

Given the initial success of its pre-sale, it is likely to command a large listing once it launches in the coming weeks.

In the meantime, investors can still purchase it via pre-sale by going to Sealana’s official website.

It is available at a conversion rate of 1 SOL for 6,900 SEALs, which is worth approximately $0.026 per token.

It could quickly replace that price once activated, potentially turning into a rival to BONK and other SOL-based coins.

Buy SEAL today

Disclaimer: Cryptocurrencies are a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all your capital.

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