BONK Predicted To Experience A Big Increase, This Is The Target Price!

BONK is predicted to experience a big increase (Photo; Doc. Medium)

JAKARTA - BONK meme coins, which are network-based on Solana, are at a critical point after being caught in a tight price movement in the past 24 hours. Crypto analysts predict that these coins could potentially experience a major breakout in the coming days, opening up opportunities for significant price increases. However, after briefly rising sharply in the last seven days, the price of BONK has dropped drastically again in less than 24 hours.

Currently, BONK prices are in a consolidated phase after reaching a level of support. According to well-known crypto analysts from the World Of Charts, this phase is creating the momentum needed for a potential breakout that will most likely drive prices higher.

Quoted from Bitcoinist, World Of Charts revealed the latest analysis regarding the price movement of BONK through social media platform X. Based on the price graph displayed, BONK has shown a symmetric pattern since early 2024, characterized by the formation of lower heights and higher lows. This pattern indicates that price movements are leading to large moments.

At the end of September, the price of BONK had tried a breakout after reaching 0.00002557 US Dollars (Rp382), but immediately withdrew sharply. Currently, prices are testing the upper trend line of this symmetric pattern again, with the World Of Charts estimating a breakout towards the top. Based on these predictions, analysts expect a price spike of 168%, which could bring the BONK price to 0.000062 US Dollars (Rp928).

If the World Of Charts prediction is realized, BONK is expected to surpass its previous all-time high, which is 0.00004547 US Dollars (Rp680), before the end of this year. At the time of analysis, the BONK price is around 0.000023 US Dollars (Rp344), which is testing the upper trend line of the symmetric pattern.

However, to date, BONK has not managed to penetrate the top trend line in the last 24 hours. The price of this meme coin has actually decreased by 0.9% in a day and is trading at 0.00002094 US Dollars (Rp314). Despite a short-term decline, a broader trend still provides hope, as BONK recorded an increase of about 26% in the last 30 days, suggesting that a potential increase is still in the longer term.

On the other hand, the failure of the BONK price to penetrate the trend line opens up the possibility of a greater directional reversal. Technical indicators show a bearish-prone momentum, with this coin trading under a Simple Moving Average (SMA) of 50 days. In addition, Relative Stretch Index (RSI) also shows a lack of current purchase impetus.