The Bonk Price Surges
The Bonk price soared 31% in the last 24 hours to trade at $0.00001294 as of 4:44 a.m. EST with trading volume surging 319% to $379 million.
Bonk Price Trades The Descending Triangle
The BONK price is trading within the support zone at $0.00001286, indicating a shift upwards. Following rejection at $0.00003552, bears took control, exerting downward pressure on the price and causing it to retreat to the established support level at $0.00001342. This descent has formed a descending triangle pattern, suggesting a potential bearish trend continuation if the price breaks below the support zone. However, if the bulls sustain the bullish momentum, they could propel the price above the upper boundary of the triangle. The BONK price appears to find support from the 50-day Simple Moving Average (SMA), providing some respite for the bulls. However, a break below the 50-day SMA could pave the way for a sustained downward trend, with bulls potentially regrouping around the $0.000005608 level. The Relative Strength Index (RSI) reflects the prevailing bearish sentiment, as it has declined from 87 to 40, indicating significant bearish pressure in the market.
The Bonk Price Prediction
The existing support zone for BONK appears robust, indicating resilience. This provides an opportunity for bulls to regroup and push the price upward to the $0.00003552 resistance level, representing a potential 180% increase from the current price. If bearish pressure persists, there is a risk of BONK descending below the lower boundary of the descending triangle, potentially reaching the support zone at $0.000005608. Meanwhile, investors looking to diversify should consider Sponge V2, which is attracting investors because of its remarkable 100X surge with Sponge V1.
Sponge V2 Raises Over $3.6 Million, Geared Up For 100x Returns
SpongeV2 is attracting considerable interest following its successful staking and bridging of over $3.6 million in funds. The project is targeting a 100X return on investment, in line with the achievements of Sponge V1.
Justin Sun Holds $SPONGE
After revealing in May 2023 that he plans to trade meme coins and promising projects, Justin Sun, the founder of Tron, fueled the bullish sentiment among investors and traders, moving over $14 million from the Binance exchange. Data from crypto security firm PeckShield reveals a transfer of 6,166 ETH from Binance to a wallet associated with Justin Sun, whose value is $14.7 million at the current market ETH price. Sun currently holds $SPONGE worth some $90K.
A Chance to Earn Passive Income
The SpongeV2 platform provides a staking feature that allows you to stake your $SPONGE tokens via the token’s website. Upon staking, your tokens will be automatically bridged. At launch, you will receive SpongeV2 tokens along with an attractive 363% annual percentage yield (APY). You can also engage in the play-to-earn (P2E) free and premium versions. The premium version lets you use $SPONGEV2 tokens to buy extra game credits, hence increasing your opportunities to earn additional $SPONGE. Jacob Bury, a crypto YouTuber with over 26k subscribers, details how to earn from SpongeV2 in his recent video. He is optimistic about the prospects of SpongeV2 and sees a potential 10X pump on launch. Buy Sponge V2 tokens by connecting your Web3 wallet to the official Sponge V2 website to swap your ETH or USDT for v2 tokens. You can also use your bank card to buy directly.
Hot Take: The Future of BONK and SpongeV2 is Bright
As you monitor BONK’s price movement, keep an eye on the support and resistance zones, as well as the descending triangle pattern, to make informed investment decisions. Furthermore, SpongeV2 is making waves in the market with its staking feature and attractive returns, presenting a promising opportunity for you to explore.
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