Bonk Price Prediction: BONK Falls Back To Earth With 22% Plunge, But This Meme Coin Presale Keeps On Pumping

Bonk price is down 22% in the last 24 hours to trade for $0.00001051 as of 5:00 a.m. EST time as trading volume has surged 15%.

It comes after BONK was overbought, with the Relative Strength Index (RSI) spending eight days above the 70 level. This made a pullback imminent, as the bulls were exhausted.

Nevertheless, Bonk price found support at the most important Fibonacci level, 61.8%, at $0.00000934 and is now attempting a recovery.

It comes after Coinbase committed to listing BONK token on the US-based trading platform in an official statement. The news sent the Solana blockchain-based token up 8%.

Asset added to the roadmap today: Bonk (BONK)https://t.co/rRB9d3hSr2

— Coinbase Assets ????️???? (@CoinbaseAssets) December 13, 2023

However, the listing may come with a cautionary label, seeing as Coinbase has recently adopted a new policy where new listings get an “Experimental” label.

Like Shiba Inu (SHIB) and Dogecoin (DOGE), as well as other renowned players in the meme coin sector, BONK has garnered a massive following among meme coin enthusiasts.

This is evidenced in the 416% surge it’s registered over the last month, outperforming its peers in the sector.

Bonk Price Outlook As BONK Sits On The 61.8% Fibonacci Retracement Level

Measured from $0.00000020 to $0.00001499, Bonk price is sitting atop the most important Fibonacci level of 61.8% at $0.00000934. This level broke the fall for the meme coin, giving the bulls a pivot to scale a recovery rally.

Based on the outlook of the RSI, buyer momentum is falling, worsened by a red histogram bar on the Awesome Oscillator (AO). This shows the bulls are losing ground to the bears.

Unless buyers steady their hand, the bears could establish a strong grip on the BONK price, sending it below the 61.8% Fibonacci level.

Increased selling pressure could see the Bonk price break the 50% Fibonacci level at $0.00000759, or worse, extend a leg lower to the 23% Fibonacci level at $0.00000360. Such a move would constitute a 65% drop below current levels.

TradingView: BONK/USDT 1-day chart

On the other hand, if sideline investors join the dance, Bonk price could find the strength to pull north, springboarding above the $0.00000934 level to reach for the 70.5% Fibonacci retracement at $0.00001063.

A break and close above this level would set the pace for Bonk price to target the $0.00001185 resistance level or in highly ambitious cases, extend the gains to the $0.00001343 roadblock.

In highly ambitious cases, buyer momentum could see Bonk price fill the market range by testing the $0.00001490 range high. Such a move would denote a 50% climb above current levels.

The position of the RSI above 50 and the AO still in the positive territory is a good sign, showing the bulls still maintain a presence in the BONK market.

While BONK price has lost its steam, MK continues to pump with a presale that continues to sell ultra-fast. It is breaking records with new milestones every week as investors buy into the stake-to-earn ecosystem.

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Promising Alternative To BONK

MK token provides entry into the Meme Kombat ecosystem, the hottest stake-to-earn gaming meme crypto. It is an innovative new gaming platform designed for gaming enthusiasts, with experts saying it could dethrone PEPE.

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The Meme Kombat project presale now boasts an outstanding $2.939 million out of a target objective of $3.5 million.

Investors looking to buy MK can do so on the website, with each token selling for just $0.235. This price tag is only up for the next 24 hours before another price hike, meaning now is your opportunity to take advantage of low entry prices.

Buy $MK now in our presale: https://t.co/2x2FvsuR61

— Meme Kombat (@Meme_Kombat) December 11, 2023

Buy MK tokens and stake them for Annual Percentage Yields (APY) as high as 291%, with 73% of the entire MK token supply already staked. Do not miss out on this opportunity for passive income earning. Remember, the staking dashboard is already live.

???? Major Update ????

The Meme Kombat Staking Dashboard is officially live and ready to be used by you!

Take a break from Kombat and visit the staking dashboard here: https://t.co/nNFEYESjPs pic.twitter.com/yswl0esb4G

— Meme Kombat (@Meme_Kombat) November 9, 2023

Visit Meme Kombat website to buy MK in the presale here.

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