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Bonk token launched on December 25, 2022
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The cryptocurrency rose by four-digit percentages after the launch
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BONK worth has cooled and trades on a descent and will declare decrease ranges
Crypto has all the time handled its followers with twists, turns, and surprises. The crypto group loves it this manner, for it turns into a time to make fast bucks as the remainder of the market sleeps. In 2022, we have been handled to a wild launch of the ApeCoin. Earlier than the mud settled, Optimism airdrop got here with a thud! The 12 months couldn’t finish in a greater manner for crypto followers than it did with the Bonk token (BONK/USD).
If you’re a fan of meme tokens, then BONK doesn’t miss your watchlist after a heroic entry into the crypto area. Launched on December 25, 2022, BONK has been a sensation, leaping by 4 digits share in worth. The token additionally dominated social buying and selling platforms. Analysts credited the recognition of the newly dog-themed token to the Solana group. The previous is predicated on the Solana community.
Nonetheless, if historical past is certainly a superb trainer, then we should always study that the good points might not final endlessly. We’ve seen extremely hyped launches boosting token costs, just for them to crash thereafter. BONK will not be an exception. As of press time, the meme cryptocurrency had misplaced at the least 50% of its worth from its all-time excessive. Typical of the phrase, in case you didn’t board early, don’t do it now. Technical pointers present BONK may fall additional.
BONK on a decline as worth finds minor help
BONK/USDT Chart by TradingView
From the 4-hour chart outlook, BONK trades nervously at a help zone. The highs to the upside have been decrease, coinciding with a declining worth. Purchase-side volumes have improved barely on the help, however not adequate to spice up BONK’s worth.
BONK worth prediction
Because the hype across the BONK launch dies, the value may proceed falling. Traders might take a look at BONK as an overvalued asset. Revenue-taking and panic promoting might also be at play and pressure a bearish breakout.
