- The trading price of BONK crypto has declined by 44.2% in the last 14 days.
- The Bonk crypto price is 12000% above its all-time low.
BONK is a community coin for the Solana network, supporting various DApps and NFTs. It is governed by its holders and the Bonk DAO team. It has multiple use cases in DeFi and gaming. It’s decentralized and anonymous and was created by Dexlab and backed by Helio and Famous Fox Federation.
The total supply of the Bonk crypto is 93.62 Trillion BONK and the volume/market cap ratio of the crypto is 17.97%. The trading volume of the BONK crypto is trading flat with a decline of 0.8% in the last 24 hours.
The market cap of Bonk has also declined by 7.19% and the current market cap value of the token is $655.37 Million. In terms of market cap, the ranking of the crypto is 89th, and the fully diluted market cap of the crypto is $1.03 Billion.
The circulating supply of the crypto is 63.33 Trillion, which makes up 63.33% of the max supply, and therefore, the max supply of the crypto is 100 Trillion BONK. Additionally, the market cap dominance of the crypto is 0.036%.
Bonk Derivatives Analysis
The derivative trading volume of the BONK crypto has witnessed a huge spike of 192%, resulting in a traded volume of $10.23 Million. Moreover, the open interest of the crypto has also risen by 12.5% and the long/short ratio of the crypto is 0.8342.
The recorded long liquidation for the BONK token, as per Coinglass, is $129.93K against the short liquidation of $34.03K.
BONK Crypto Technical Analysis
The BONK crypto price is consistently declining on the charts, reflecting a falling wedge pattern on the 4H chart. If the price of the crypto breaks above this pattern in the future, we might get to see a bullish change in the trend of the crypto.
BONK/USD Chart by TradingView
The BONK crypto price is following a strong downtrend, declining with the 20-day and the 50-day EMAs which are forming a bearish cross. Additionally, the Bollinger band is giving a bearish signal as the price is consistently sliding towards lower levels.
The RSI is also giving a strong sell signal as the value of the RSI is 41.14 and the 14-day SMA has also declined to lower levels. The RSI is pointing to bearish momentum as it is sustaining below the 50-level.
Conclusion
The BONK crypto price is in a downtrend and shows no signs of reversal. The technical indicators are negative and the volume is low. At the moment, BONK is a weak and risky investment that could fall further. Overall, BONK is losing its appeal and relevance in the Solana ecosystem.
Technical Levels
Support Levels: $0.000080 and $0.0000500
Resistance levels:$0.0000170 and $0.0000250
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.