BONK Listing on BitMEX: A Potential Rebound for the Meme Coin?
While the BONK meme coin faced a dip in its price after reaching its all-time high (ATH) value on March 4th, the recent announcement of its listing on BitMEX has brought renewed hope for a rebound. Letโs discuss the implications of this listing and whether BONK can recover from its recent losses.
BitMEX Announces BONK Listing
BitMEX recently announced that it will be listing the BONK meme coin, resulting in an immediate 6% surge in its price. The listing is scheduled to go live on March 11th at 4 UTC, with users being able to view BONK on the platform starting from March 8th.
Additionally, BitMEX has revealed that it will be airdropping $20,000 worth of BONK as a reward for users trading the coin within their platform.
Impact of the Listing on BONK
The listing on BitMEX is a significant development for BONK, considering its recent impressive performance. Over the past month, the meme coin has surged by 200%, currently trading at $0.00003181 with a 7% increase in the last 24 hours. Its trading volume has also seen a significant hike, reaching $979,829,338 after a 40% increase. This surge had initially raised hopes for a recovery following the recent price fall.
Potential Shifts in BONKโs Performance
Since yesterday, there has been a notable 40% increase in both volume and market cap for BONK. It currently ranks 58th on Coinmarketcap, with a market cap of $2,069,795,542 after a 5% surge. While this rise in volume indicates growing user interest in the coin, its value hasnโt experienced a substantial spike post the fall.
After reaching its ATH value, BONK dropped to its lowest point at $0.00002658 and is currently hovering around $0.00003181. This modest recovery is not the ideal comeback for the meme coin.
Technical indicators suggest mixed signals for BONKโs future performance. The Moving Average Convergence Divergence (MACD) indicates a separation from its recent bullish run and suggests that sellers have taken control of the crypto. On the other hand, the Fibonacci extension points towards potential price surges in the coming days.
It is expected that BONK may face price conflicts and volatility issues in the next few days, with prices fluctuating between as low as $0.000030 and as high as $0.000089. However, these predictions are subject to change based on the coinโs performance.
Conclusion: Will BONK Rebound?
BONK has made its mark among the top meme coins alongside Dogecoin and Shiba Inu due to its recent impressive performance. With rumors of a meme season taking over the crypto market, it remains to be seen how BONK will fare on the charts following its listing on BitMEX.
If youโre interested in learning more about meme coins with 100x potential, be sure to read our article on the top 5 meme coins to watch out for.
Hot Take: A Potential Reversal for BONK?
While the BONK meme coin faced a dip in its price after reaching its all-time high (ATH) value on March 4th, the recent announcement of its listing on BitMEX has brought renewed hope for a rebound. Letโs discuss the implications of this listing and whether BONK can recover from its recent losses.
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