Bonk Price Prediction as Volume Outperforms SHIB – Can Bonk Overtake Dogecoin and Shiba Inu?
The Bonk price has dropped by 6% in the past 24 hours, with the meme token falling to $0.00001171 on a day when the wider market drops by a less dramatic 0.5%.
BONK remains up by 7.5% in the past week, yet it has declined by 17.5% in the last 30 days, with January having been a largely negative month for the coin.
However, it continues to sit on a 1,000% gain in the last 12 months, and with its trading volume often outperforming that of its rival Shiba Inu (SHIB), it’s likely to experience further rallies soon.
Bonk’s chart continues to look pretty flat, with its indicators struggling to recover from more than a month of overselling and stagnation.
For instance, BONK’s 30-day average has been declining slightly over the past couple of weeks, and has failed to rise since January.
This is a clear sign of a loss of momentum, with the coin’s relative strength index (purple) telling us something very similar.
Indeed, the RSI remains below 50 and is struggling to rise any higher, suggesting a lack of interest from buyers at the moment.
BONK’s volume supports this view, since while the coin has traded more heavily than SHIB and DOGE in recent months, its volume currently stands at only $75 million.
This is minuscule in comparison to major tokens (e.g. Bitcoin, Ethereum Solana), and it also represents an 85% decline compared to how heavily BONK traded in mid-January.
One reason for BONK’s underperformance in recent weeks is that whales seem to have forgotten about the coin, with no big buys happening since earlier in the month.
There is one whale who continues to hold onto about $3.5 million of the coin, yet other than this, not much has happened in the past couple of weeks.
It seems that many traders have moved onto other meme tokens,
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