BONK has surged 12% in the past 24 hours, fueled by renewed investor interest after REX Shares filed for an ETF application. This development has sparked increased demand for the meme coin, suggesting potential for a sustained price rally.
ETF Application Drives BONK’s Rally
Asset management firm REX Shares recently submitted ETF applications for several meme coins, including BONK, DOGE, and TRUMP. This move has reignited investor enthusiasm, propelling BONK’s value upward by 12% within a day.
A closer look at BONK’s technical indicators reveals:
- The price has climbed above its 20-day Exponential Moving Average (EMA), now acting as dynamic support.
- The Relative Strength Index (RSI) stands at 52.57, signaling bullish momentum without entering overbought territory.
These metrics suggest growing buyer dominance, which could sustain the upward trend.
BONK Price Prediction: What’s Next?
If buying pressure persists, BONK could:
- Break past immediate resistance at $0.000033.
- Rally 17% toward $0.000038.
Conversely, a shift in market sentiment might lead to:
- A retracement to $0.000025.
Key Takeaways
- ETF news has boosted BONK’s short-term momentum.
- Technical indicators support a bullish outlook.
- Traders should monitor key resistance and support levels.
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FAQ
What caused BONK’s recent surge?
The REX Shares ETF application for meme coins, including BONK, triggered renewed investor interest and a 12% price jump.
Is BONK a good investment now?
While technical indicators are bullish, meme coins are highly volatile. Always conduct thorough research before investing.
Could BONK’s price drop soon?
If selling pressure returns, BONK may retest $0.000025. Market sentiment remains critical.
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Disclaimer
This analysis is for informational purposes only. Cryptocurrency investments carry risks—consult a financial advisor before making decisions. Market conditions can change rapidly.