{"id":566557,"date":"2023-12-22T11:23:50","date_gmt":"2023-12-22T11:23:50","guid":{"rendered":"https:\/\/www.wncen.com\/?p=566557"},"modified":"2023-12-22T11:27:37","modified_gmt":"2023-12-22T11:27:37","slug":"bonk-crashes-15-after-a-solid-month-is-the-success-story-ending","status":"publish","type":"post","link":"https:\/\/www.wncen.com\/news\/bonk-crashes-15-after-a-solid-month-is-the-success-story-ending\/","title":{"rendered":"BONK Crashes 31% After A Solid Month – Is the Success Story Ending?"},"content":{"rendered":"

BONK has encountered a challenging period following its recent peak at an all-time high of $0.00003, which occurred just this past Wednesday. Since reaching this pinnacle, the price has undergone a significant decline, plummeting by more than 50%.<\/p>\n

This notable downturn has raised concerns within the market, emphasizing the urgency for buyers to re-enter the scene promptly. The next moves by buyers will play a pivotal role in determining the trajectory of BONK’s price action.<\/p>\n

BONK: Meme Coin’s Price Rollercoaster Ride<\/strong><\/h2>\n

At the time of writing, the meme coin was trading at $0.000018, down 29% in the last 24 hours, and sustained a significant loss of 30.6 in the last seven days<\/a>, data from Coingecko shows.<\/p>\n

Related Reading: Crypto Analyst Says This AI Altcoin Will Hit A Fresh ATH After 300% Rally<\/a><\/div>\n

Latest BONK data mirrors a substantial price surge, drawing parallels to the remarkable and sometimes notorious ascents witnessed in other meme coins, such as Shiba Inu.<\/p>\n

Yet, the chart now reveals the initiation of a descending pattern, with the emergence of red candles signaling a sell-off phase and hinting at the potential conclusion of the BONK narrative.<\/p>\n

The evolving chart dynamics raise questions about the sustainability of BONK’s earlier success and introduce an air of uncertainty into its once-bullish trajectory.<\/p>\n

BONKUSD currently trading at $0.0000190336 territory. Chart: TradingView.com<\/a><\/pre>\n
This week, Binance announced a notable expansion of BONK trading on its platform by introducing it to Binance Margin. This strategic move followed the earlier listing of BONK on the exchange with three additional pairs, a decision fueled by substantial demand for the meme coin.<\/p>\n
The introduction of BONK to Binance Margin fueled speculation within the crypto community, with expectations of a potential price boost for the meme coin. However, the unfolding events took an unexpected turn, diverging from the anticipated trajectory.<\/p>\n
Despite initial speculations, the market dynamics surrounding BONK underwent a different outcome, introducing a layer of unpredictability to its trading journey.<\/p>\n
\"\"BONK seven-day price action. Source: Coingecko<\/pre>\n
As the price approaches the $0.000018 support level once again, the direction that BONK is moving in appears to be bearish. If it starts to decrease, it can soon reach the $0.000014 barrier.<\/p>\n
RSI Decline Raises Concerns For BONK<\/strong><\/h2>\n
The RSI on the three-day timeframe has been falling rapidly, going from 98 points in early December to 78 points today as the purchasing momentum has faded and the sell volume is increasing. Remaining bullish would be difficult if this kept up.<\/p>\n
The chart’s high volatility, which is seen in its large price swings and suggests a struggle between buyers and sellers, is another important component. The market may be losing the sharp rising trend that typified previous rises as the Moving Averages (MAs) begin to flatten out.<\/p>\n
\"\"Source: CoinCodex<\/pre>\n
Related Reading: Injective (INJ) Hits New ATH At $44 \u2013 Is $50 Next This Christmas?<\/a><\/div>\n
According to CoinCodex technical indicators<\/a>, the current sentiment is bullish despite the depressing numbers for BONK, and the Fear & Greed Index is currently displaying 74 (Greed).<\/p>\n
As for the meme coin, the current price projection indicates a decline to the $\u202f0.000021 level by December 27, 2023, or a loss of 2.39%.<\/p>\n
Despite an initially enchanting journey, BONK’s narrative now suggests a fading magic, leaving investors with another dog-themed asset lacking a clear use case.<\/p>\n
The coin’s future appears to be navigating a cycle where exuberant explosions are followed by significant corrections, echoing the market’s sobering from speculative fervor.<\/p>\n
Featured image from Pixabay<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
BONK has encountered a challenging period following its recent peak at an all-time high of $0.00003, which occurred just this past Wednesday. Since reaching this pinnacle, the price has undergone a significant decline, plummeting by more than 50%. This notable downturn has raised concerns within the market, emphasizing the urgency for buyers to re-enter the scene promptly. The next moves by buyers will play a pivotal role in determining the trajectory of BONK’s price action. BONK: Meme Coin’s Price Rollercoaster Ride At the time of writing, the meme coin was trading at $0.000018, down 29% in the last 24 hours, and sustained a significant loss of 30.6 in the last seven days, data from Coingecko shows. Related Reading: Crypto Analyst Says This AI Altcoin Will Hit A Fresh ATH After 300% Rally Latest BONK data mirrors a substantial price surge, drawing parallels to the remarkable and sometimes notorious ascents witnessed in other meme coins, such as Shiba Inu. Yet, the chart now reveals the initiation of a descending pattern, with the emergence of red candles signaling a sell-off phase and hinting at the potential conclusion of the BONK narrative. The evolving chart dynamics raise questions about the sustainability of BONK’s earlier success and introduce an air of uncertainty into its once-bullish trajectory. BONKUSD currently trading at $0.0000190336 territory. Chart: TradingView.com This week, Binance announced a notable expansion of BONK trading on its platform by introducing it to Binance Margin. This strategic move followed the earlier listing of BONK on the exchange with three additional pairs, a decision fueled by substantial demand for the meme coin. The introduction of BONK to Binance Margin fueled speculation within the crypto community, with expectations of a potential price boost for the meme coin. However, the unfolding events took an unexpected turn, diverging from the anticipated trajectory. Despite initial speculations, the market dynamics surrounding BONK underwent a different outcome, introducing a layer of unpredictability to its trading journey. BONK seven-day price action. Source: Coingecko As the price approaches the $0.000018 support level once again, the direction that BONK is moving in appears to be bearish. If it starts to decrease, it can soon reach the $0.000014 barrier. RSI Decline Raises Concerns For BONK The RSI on the three-day timeframe has been falling rapidly, going from 98 points in early December to 78 points today as the purchasing momentum has faded and the sell volume is increasing. Remaining bullish would be difficult if this kept up. The chart’s high volatility, which is seen in its large price swings and suggests a struggle between buyers and sellers, is another important component. The market may be losing the sharp rising trend that typified previous rises as the Moving Averages (MAs) begin to flatten out. Source: CoinCodex Related Reading: Injective (INJ) Hits New ATH At $44 \u2013 Is $50 Next This Christmas? According to CoinCodex technical indicators, the current sentiment is bullish despite the depressing numbers for BONK, and the Fear & Greed Index is currently displaying 74 (Greed). As for the meme coin, the current price projection indicates a decline to the $\u202f0.000021 level by December 27, 2023, or a loss of 2.39%. Despite an initially enchanting journey, BONK’s narrative now suggests a fading magic, leaving investors with another dog-themed asset lacking a clear use case. The coin’s future appears to be navigating a cycle where exuberant explosions are followed by significant corrections, echoing the market’s sobering from speculative fervor. Featured image from Pixabay<\/p>\n","protected":false},"author":557,"featured_media":566567,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[87477,87479,87481,6664,85699],"class_list":["post-566557","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bonk","tag-bonk-price","tag-bonkusd","tag-crypto","tag-memecoin"],"acf":[],"yoast_head":"\nBONK Crashes 15% After A Solid Month - Success Story Ending?<\/title>\n<meta name=\"description\" content=\"BONK has encountered a challenging period following its recent peak at an all-time high of $0.00003, which occurred just this past Wednesday. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/www.wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"BONK Crashes 31% After A Solid Month – Is the Success Story Ending?","url":"http:\/\/www.wncen.com\/news\/bonk-crashes-15-after-a-solid-month-is-the-success-story-ending\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.wncen.com\/news\/bonk-crashes-15-after-a-solid-month-is-the-success-story-ending\/"},"thumbnailUrl":"https:\/\/www.wncen.com\/wp-content\/uploads\/2023\/12\/a-147.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/www.wncen.com\/wp-content\/uploads\/2023\/12\/a-147.png?fit=857%2C582"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/www.wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bonk","bonk price","bonkusd","crypto","memecoin"],"dateCreated":"2023-12-22T11:23:50Z","datePublished":"2023-12-22T11:23:50Z","dateModified":"2023-12-22T11:27:37Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"BONK Crashes 31% After A Solid Month – Is the Success Story Ending?\",\"url\":\"http:\\\/\\\/www.wncen.com\\\/news\\\/bonk-crashes-15-after-a-solid-month-is-the-success-story-ending\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.wncen.com\\\/news\\\/bonk-crashes-15-after-a-solid-month-is-the-success-story-ending\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/www.wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/a-147.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/www.wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/a-147.png?fit=857%2C582\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/www.wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bonk\",\"bonk price\",\"bonkusd\",\"crypto\",\"memecoin\"],\"dateCreated\":\"2023-12-22T11:23:50Z\",\"datePublished\":\"2023-12-22T11:23:50Z\",\"dateModified\":\"2023-12-22T11:27:37Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/www.wncen.com\/wp-content\/uploads\/2023\/12\/a-147.png?fit=857%2C582","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/posts\/566557"}],"collection":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/comments?post=566557"}],"version-history":[{"count":0,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/posts\/566557\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/media\/566567"}],"wp:attachment":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/media?parent=566557"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/categories?post=566557"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/tags?post=566557"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}