BONK price action spells trouble after becoming an overnight crypto sensation.

  • Bonk token launched on December 25, 2022

  • Cryptocurrencies rose by four-digit percentages after launch

  • BONK Price Cools, Trends Down, May Claim Lower Levels

Crypto has always provided twists, turns and surprises for fans. The cryptocurrency community likes this method. Because with the rest of the market asleep, it’s time to make some quick money. In 2022, we have been hit by his wild launch of ApeCoin. Before the dust settles, the Optimism airdrop is thumping! This year, for cryptocurrency fans, Bonk Token (Bonk/USD).

if you are a fan of meme token, then BONK won’t miss your watchlist after its heroic entry into the crypto space.Launching on December 25, 2022, BONK is a sensation, with prices jumping by four-digit percentages I was. Tokens have also dominated social trading platforms. Analysts believe new dog-themed tokens are popular with the Solana community. The former is based on the Solana network.

That said, if history is really a good teacher, we must learn that gains don’t last forever. I’ve seen you do BONK may be no exception. At press time, the meme cryptocurrency had lost at least 50% in value from its all-time high. A common phrase, if you didn’t board early, don’t board now. Technical pointers show that BONK may drop further.

BONK Falls as Price Finds Minor Support

BONK/USDT chart by TradingView

From the perspective of the 4-hour chart, BONK is trading nervously in the support zone. The highs to the highs are falling, which coincides with the price drop. Buy-side volume has improved slightly on support, but not enough to push BONK prices higher.

Bonk price prediction

Prices may continue to fall as the BONK launch hype ends. Investors may view BONK as an expensive asset. Profit taking and panic selling can also come into play and force a bearish breakout.

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