$BONK is gaining its popularity after it went down a couple of weeks, due to newer meme coins being created in the market.
The comeback might happen with the new price surge as traders are predicting that the price of this meme token will go up by 100% in the next couple of days.
$BONK is Gaining its Popularity Back
The popularity started coming back after $BONK spent a massive amount of its budget on marketing, with the Token2049 event and other crypto-related events.
At the Token2049 in Dubai, $BONK is seen everywhere as the project seems to have done some giveaways through goodies as well as put up some banners across the event and around it.
The project also sponsored a crypto influencer boxing match, where the token was shown on the big screen for people to see, raising awareness that the project is still alive and well.
After these events, the price of $BONK seems to be going up again, which might be a result of new traders and degen investors getting in.
The positive news does not stop there, as the token itself has just been listed in an exchange that is available for European investors and traders.
With this new listing, it is predicted that the token will receive a new buying volume from investors, especially with the narrative that the price of this token is gearing up for a 100% increase.
Price Analysis
There are no specific sentiments that might promote a 100% price gain for $BONK aside from new partnerships and listings that the project will be doing.
$BONK itself still has no roadmap or any plans to create its product, which means that all the hype around it still depends on the community as well as the sentiment around the meme sector of the crypto market.
Looking at its dominance, currently, $BONK is not as dominant as it was in the meme coin sector as well as in the Solana meme category.
This is because there are many new meme coins like $WIF that are currently dominating the market, having the highest market capitalization out of all the newer generations of meme coins, just trailing below $DOGE and $SHIB.
Although its dominance is low, the token still has the potential to go up significantly, however, it might take some time for it to reach the target price.
$BONK’s Chart / Source: Tradingview
The 100% price prediction is based on its current attempt to break out of its downtrend that has been happening since the end of March 2024.
If the price of $BONK decided to stay above $0.0000194, then there is a possibility that the price might come back to its highest resistance at around $0.000038.
This will prompt a 100% price increase even triggering a new bullish movement to reach a new all-time high.
This is why traders are currently buying into this token as can be seen from the buying volume that has been rising from the RSI Indicator.
To capitalize on this potential, traders can use Bitrue to buy $BONK with the $USDT Token so the process will be easier than using a decentralized exchange.
However, it is good to remember to use proper risk management as this token still has high volatility, especially with a target price that is so high.
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