{"id":599131,"date":"2024-03-22T05:14:07","date_gmt":"2024-03-22T05:14:07","guid":{"rendered":"https:\/\/wncen.com\/?p=599131"},"modified":"2024-03-22T05:14:07","modified_gmt":"2024-03-22T05:14:07","slug":"bonk-bonked-price-crashes-30-in-7-days-more-pain-ahead","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bonk-bonked-price-crashes-30-in-7-days-more-pain-ahead\/","title":{"rendered":"BONK Bonked: Price Crashes 30% In 7 Days – More Pain Ahead?"},"content":{"rendered":"

The memecoin BONK has faced a significant setback as its prices plummeted by 30%<\/a> in the last week, sparking discussions about the need to reassess predictions for this meme token. This decline in value has been accompanied by a drop in BONK’s open interest to its lowest level in the past month, signaling potential challenges ahead for the token.<\/span><\/p>\n

Related Reading: Fantom (FTM) Bull Run: Can FTM Hit $2 After 20% Price Spike?<\/a><\/div>\n

Market Performance And Price Predictions<\/h2>\n

The recent slump in BONK’s prices has raised concerns among investors and traders, with key technical indicators hinting at the possibility of further declines in its value. At present, BONK is trading at $0.000023, making it one of the cryptocurrencies with the most losses over the past week. The altcoin’s future trajectory remains uncertain as market dynamics continue to evolve.<\/span><\/p>\n

\"\"BONK price down in the last seven days. Source: Coingecko<\/a><\/pre>\n

Following a rejection at $0.00004, the price of BONK lost momentum and had a 35% value adjustment. After then, there was a period of sideways trading for the memecoin. The bulls lost steam as the volatility increased and broke through the support level; the market has been trading sideways ever since.<\/p>\n

The recent analysis of BONK’s price performance reveals a shift in sentiment towards bearish outlooks, with weighted sentiment turning negative and key technical indicators confirming the presence of bearish sentiments. This negative sentiment among market participants could potentially lead to further declines in BONK’s value unless there is a significant shift in market dynamics.<\/span><\/p>\n

\"\"<\/p>\n

Source: Coinglass<\/a><\/pre>\n

Open Interest Plummets<\/h2>\n

Futures open interest<\/a> in the cryptocurrency fell to its lowest level in one month, which led to a decrease in its price. The open interest in BONK began to fall on March 5th and has since fallen by 60%, according to statistics from Coinglass.<\/p>\n

Traders’ interest or involvement in the derivative market for an asset declines as its open interest diminishes. This usually happens when there is a change in investor mood, leading to more people trying to cut losses or take profits.<\/p>\n

<\/p>\n

Total crypto market cap at $2.4 trillion on the daily chart: TradingView.com<\/a><\/pre>\n

Impact On Investor Sentiment And Market Dynamics<\/h3>\n

The recent price slump in BONK has had a notable impact on investor sentiment, with many adopting a cautious approach towards the token’s future prospects. This shift in sentiment has also influenced trading volumes and market activity, as investors reassess their positions and strategies in light of BONK’s price movements.<\/span><\/p>\n

Expert Price Predictions And Analysis<\/h3>\n

As market observers examine BONK’s price predictions, varying outlooks emerge regarding its future performance. While some forecasts suggest a bearish scenario with a price of $0.000018 in 2024, others paint a more optimistic picture, projecting an average price of $0.000067 by April 17, 2024. These contrasting predictions highlight the volatility and unpredictability inherent in the cryptocurrency market.<\/span><\/p>\n

Related Reading: Analyst Bullish On Polkadot (DOT), Predicts $17 Price Target Before April<\/a><\/div>\n

Featured image from Andrea Piacquadio\/Pexels, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The memecoin BONK has faced a significant setback as its prices plummeted by 30% in the last week, sparking discussions about the need to reassess predictions for this meme token. This decline in value has been accompanied by a drop in BONK’s open interest to its lowest level in the past month, signaling potential challenges ahead for the token. Related Reading: Fantom (FTM) Bull Run: Can FTM Hit $2 After 20% Price Spike? Market Performance And Price Predictions The recent slump in BONK’s prices has raised concerns among investors and traders, with key technical indicators hinting at the possibility of further declines in its value. At present, BONK is trading at $0.000023, making it one of the cryptocurrencies with the most losses over the past week. The altcoin’s future trajectory remains uncertain as market dynamics continue to evolve. BONK price down in the last seven days. Source: Coingecko Following a rejection at $0.00004, the price of BONK lost momentum and had a 35% value adjustment. After then, there was a period of sideways trading for the memecoin. The bulls lost steam as the volatility increased and broke through the support level; the market has been trading sideways ever since. The recent analysis of BONK’s price performance reveals a shift in sentiment towards bearish outlooks, with weighted sentiment turning negative and key technical indicators confirming the presence of bearish sentiments. This negative sentiment among market participants could potentially lead to further declines in BONK’s value unless there is a significant shift in market dynamics. Source: Coinglass Open Interest Plummets Futures open interest in the cryptocurrency fell to its lowest level in one month, which led to a decrease in its price. The open interest in BONK began to fall on March 5th and has since fallen by 60%, according to statistics from Coinglass. Traders’ interest or involvement in the derivative market for an asset declines as its open interest diminishes. This usually happens when there is a change in investor mood, leading to more people trying to cut losses or take profits. Total crypto market cap at $2.4 trillion on the daily chart: TradingView.com Impact On Investor Sentiment And Market Dynamics The recent price slump in BONK has had a notable impact on investor sentiment, with many adopting a cautious approach towards the token’s future prospects. This shift in sentiment has also influenced trading volumes and market activity, as investors reassess their positions and strategies in light of BONK’s price movements. Expert Price Predictions And Analysis As market observers examine BONK’s price predictions, varying outlooks emerge regarding its future performance. While some forecasts suggest a bearish scenario with a price of $0.000018 in 2024, others paint a more optimistic picture, projecting an average price of $0.000067 by April 17, 2024. These contrasting predictions highlight the volatility and unpredictability inherent in the cryptocurrency market. Related Reading: Analyst Bullish On Polkadot (DOT), Predicts $17 Price Target Before April Featured image from Andrea Piacquadio\/Pexels, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":599143,"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":[134,87477,1144,6664,85699],"class_list":["post-599131","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoin","tag-bonk","tag-btcusd","tag-crypto","tag-memecoin"],"acf":[],"yoast_head":"\nBONK Bonked: Price Crashes 30% In 7 Days - More Pain Ahead?<\/title>\n<meta name=\"description\" content=\"The memecoin BONK has faced a significant setback as its prices plummeted by 30% in the last week, sparking discussions about the need to reassess\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/bonk-bonked-price-crashes-30-in-7-days-more-pain-ahead\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BONK Bonked: Price Crashes 30% In 7 Days - 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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:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"BONK Bonked: Price Crashes 30% In 7 Days – More Pain Ahead?","url":"http:\/\/wncen.com\/news\/bonk-bonked-price-crashes-30-in-7-days-more-pain-ahead\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bonk-bonked-price-crashes-30-in-7-days-more-pain-ahead\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/a_4abe03.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/a_4abe03.png?fit=1026%2C678"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoin","bonk","btcusd","crypto","memecoin"],"dateCreated":"2024-03-22T05:14:07Z","datePublished":"2024-03-22T05:14:07Z","dateModified":"2024-03-22T05:14:07Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"BONK Bonked: Price Crashes 30% In 7 Days – More Pain Ahead?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bonk-bonked-price-crashes-30-in-7-days-more-pain-ahead\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bonk-bonked-price-crashes-30-in-7-days-more-pain-ahead\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/a_4abe03.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/a_4abe03.png?fit=1026%2C678\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoin\",\"bonk\",\"btcusd\",\"crypto\",\"memecoin\"],\"dateCreated\":\"2024-03-22T05:14:07Z\",\"datePublished\":\"2024-03-22T05:14:07Z\",\"dateModified\":\"2024-03-22T05:14:07Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/a_4abe03.png?fit=1026%2C678","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/599131"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=599131"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/599131\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/599143"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=599131"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=599131"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=599131"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}