Bonk Price Drops 17% but Trading Volume Surges
The price of Bonk has dropped by 17% in the last 24 hours to reach $0.00001127. However, trading volume has increased by 40%. This drop in price comes after Bonk experienced a surge and became overbought, leading traders to cash in and make profits.
Despite the drop, there is still potential for the price of Bonk to increase. The Relative Strength Index (RSI) indicates that the bulls are still present in the market, and the Awesome Oscillator (AO) shows large volumes of green bars.
If the bulls re-enter the market, the price of Bonk could overcome resistance at $0.000011845 and even reach the range high of $0.00001348. In a highly bullish scenario, the price may exceed the November 9 trading session high of $0.00001490.
To confirm the continuation of the uptrend, the price of Bonk must close above the upper band of the Bollinger indicator.
Converse Case
If more sellers enter the market, the price of Bonk could continue to fall. It may test the 70.5% Fibonacci level at $0.00000956 or even drop to the critical Fibonacci level at $0.00000841.
If the price falls below the 50% Fibonacci level of $0.0000644, it would invalidate the bullish outlook and could lead to a further downtrend. This would mean a 70% drop from current levels, potentially reaching as low as the 23% Fibonacci level at $0.0000325.
Promising Alternative To Bonk
MK token is an alternative to Bonk that offers a stake-to-earn project in the gaming space. By buying MK tokens, you gain access to an innovative gaming platform designed for gaming enthusiasts.
The current stage of the MK token presale offers tokens at $0.235, which will increase to $0.246 in four days. The presale has already reached $2.776 million in sales out of a $3.5 million target.
MK token holders can also generate passive income by staking their tokens on the staking dashboard, which has received massive support since its launch in November. Currently, investors can earn up to 305% Annual Percentage Yield (APY) by staking their MK tokens.
Staking MK tokens is a simple process that does not require any technical expertise. Visit the Meme Kombat website to participate in the token presale.
Hot Take: MK Token Offers Innovation in the Gaming Space
If you’re looking for an alternative to Bonk, MK token offers an exciting opportunity to participate in the gaming industry. With a stake-to-earn model and a new gaming platform, MK token provides a promising venture for gaming enthusiasts. Additionally, the token’s presale stage offers an attractive price of $0.235, allowing investors to get ahead of a potential price increase. Furthermore, staking MK tokens on the platform’s dashboard allows token holders to generate passive income with high APYs. With its innovative approach to gaming and potential for growth, MK token presents a compelling choice in the market.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.