Bonk (BONK) Predicted to Continue Modest Increases, According to Machine Learning Algorithms
Although the bullish advances in the cryptocurrency sector are still happening, Bonk (BONK) has somewhat slowed down its gains after reaching a new all-time high (ATH) in early March. However, machine learning and artificial intelligence (AI) algorithms predict that modest increases will continue for this dog-themed token.
According to a forecast by the advanced price projection algorithm on the crypto analytics platform PricePredictions, Bonk could proceed with slight increases during the rest of the month. The algorithm predicts that it may hit $0.000034 by March 31, 2024.
Taking into account Bonk’s current price and various indicators such as moving average convergence divergence (MACD), Bollinger Bands (BB), and average true range (ATR), the algorithm sees an 8.04% growth in Bonk’s price until the predicted time.
Bonk Price Analysis
Currently, the first dog-themed meme token built on the Solana (SOL) blockchain is trading at $0.00003147, indicating a decline of 2.94% in the last 24 hours and an 11.90% drop across the previous seven days. However, it has gained a whopping 136.07% on its monthly chart.
The sentiment toward BONK on its 1-week technical analysis (TA) gauges is exceptionally optimistic. Oscillators rate it as a ‘strong buy,’ and moving averages also point at a ‘strong buy.’
The previous price pump for Bonk coincided with the wider positive sentiment in the crypto market and with major crypto exchange Robinhood Crypto listing it for select European Union (EU) jurisdictions.
Considering Bonk’s TA indicators and the advanced machine algorithm’s prediction, it is likely that Bonk will continue in the direction forecasted. However, it is essential to conduct thorough research before investing a significant sum of money in this volatile sector.
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