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Bonk Cryptocurrency Experiences 68% Drop from Recent Peak

Bonk (BONK), a meme-based cryptocurrency has seen a steep decline from its recent high, falling by 68% from its peak. Currently, BONK is trading at $0.000011, down from a high of around $0.0000035 set in late December 2021. The token’s 24-hour trading volume stands at approximately $116.63 million despite the sell-off.

Key Metrics

According to data from CoinMarketCap, Bonk’s current market capitalization rank is 88th with a market cap of around $706.65 million. The total circulating supply of BONK tokens stands at over 63.33 trillion coins while the maximum supply is capped at 100 trillion coins.

A key resistance level for BONK’s price is $0.0000100. Immediate resistance levels are $0.0000124, $0.0000139 and $0.0000162. On the downside, support levels are found at $0.0000084, $0.0000079 and $0.0000069.

Technical Indicators

The Relative Strength Index (RSI) for BONK currently sits at 43, indicating bearish market sentiment. BONK’s current trading price is also slightly below its 50-Day Exponential Moving Average (EMA) of around $0.0000126.

A descending triangle chart pattern is observed for BONK with a critical juncture approaching indicating a potential breakout in either direction. The technical outlook for Bonk remains bearish below the $0.0000125 level.

Possible Price Catalysts #BonkCoin #BonkToTheMoon #CryptoTrend

Should BONK break above key resistance levels backed by strong trading volume and momentum, it could see its price rally.< However, failure to do so risks further declines for the token. Investors will be keeping a close eye on BONK’s chart patterns and technical indicators for clues on the next potential move.

Investor Disclaimer

Crypto assets carry high risk. The information provided is for informational purposes only and not investment advice. Potential to lose all invested capital applies.


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