By The Bonk price has hit a new all-time high today of $0.00003563, with the meme token up by 32% in the past 24 hours as the market continues to rally.
BONK has actually slipped a little since reaching its ATH a couple of hours ago, yet at $0.00003229 it remains up by an impressive 177% in a week and by 209% in the past month.
And with the alt also gaining by 5,000% in a year, it’s clear that it currently has plenty of short- and long-term momentum.
It could even continue rising in the next few weeks, with the increasingly bullish market helping to push it to new heights.
Bonk Price Prediction as BONK Hits All Time High – $1 BONK Incoming?
BONK has some massive momentum right now, yet it’s also entirely arguable that it should correct downwards soon, at least according to its indicators.
Most notably, its relative strength index (purple) has almost hit 90 this morning, which is definitely (heavily) overbought territory.
Source: TradingView
At the same time, its current price has surged beyond its 30-day average (yellow), which in turn is also racing rapidly beyond its 200-day average (blue).
These are both signs of expansion, yet they can’t continue indefinitely, especially when the RSI is at 90.
Still, BONK’s trading volume has shot up to $1 billion today, indicating the kind of interest the meme token hasn’t seen since November and December, when it set its previous all-time high.
It’s clear that it has rallied because various whales began buying up the token again, as revealed by recent transfer data.
Today the price of $BONK has increased by more than 50%!
A SmartMoney accumulated 98B $BONK($1.54M) from #Binance again before the price increased.
He currently holds 319.44B $BONK($7M), with a profit of $2.9M.https://t.co/1oXGa1QlKp pic.twitter.com/TXYw2H07yz
— Lookonchain (@lookonchain) February 29, 2024
Some traders may suspect that, after setting a new ATH today, BONK may correct significantly in the coming days, as buyers take profits.
Yet its current rally has taken place within the context of a rapidly expanding cryptocurrency market, which has taken its cue from Bitcoin and its increasingly popular ETFs.
And it’s likely that the market will continue expanding at least up until the next Bitcoin halving, which will take place at some point next month.
As such, we could see BONK beat its new record high in the coming weeks, potentially reaching $0.000040 very soon and maybe even removing a decimal place by the summer.
Newer Meme Tokens for Newer Rallies
Given that BONK may be about to correct, traders may prefer to turn to newer meme coins already, particularly those looking to list on new trading platforms in the near term.
One of the best examples of such a token Scotty the AI (SCOTTY), an AI-powered crypto-currency trading platform that launched its presale last month.
Presale Update!
ScottyTheAi #1 #memecoin (w/Ai utility) of 2024$SCOTTY has raised $1.8M
Well on our way to closing out presale and heading for that $100M marketcap.
Congratulation to all the early #Scottydogs in presale
Buy Now: https://t.co/zRmy4g8hfW#BITCOIN… pic.twitter.com/aKkAcGlPX0
— Scotty The Ai (@ScottyThe_Ai) March 4, 2024
What’s impressive about Scotty the AI is that its sale has already raised $1.8 million, despite running for only a few weeks.
It’s therefore clear that the market is becoming increasingly interested in Scotty, and the main reason for this is that it’s a rare example of a new alt with strong fundamentals and real utility.
It will launch a trading-focused platform that will feature two AI-powered products, Scotty Swap and ScottyChat.
Scotty Swap is a trading protocol through which traders can perform token swaps with each other, with the use of AI providing a more personalized and efficient trading experience.
Traders can use it in tandem with ScottyChat, which is a chatbot that will provide tailored advice and guidance on the market and prices.
$SCOTTY # 1 #memecoin (w/Ai utility) of 2024
smart investors smashed out Stage 1-9 days ahead of time.
stage 10 is now live and on the move. Price will increase at stage 11
BUY $SCOTTY presale at https://t.co/zRmy4g8hfW#blockchains #memecoins #Binance #presale… pic.twitter.com/5pn2xIr4Lg
— Scotty The Ai (@ScottyThe_Ai) March 3, 2024
Its native token, SCOTTY, will have a max supply of 1,234,567,890, with 30% of this going towards the presale (the remainder will go towards marketing, staking and trading liquidity).
Its presale could sell out quite soon, given that traders seem very attracted to Scotty’s mix of viral memes and hard utility.
They will also be able to stake the token, providing a further benefit that has attracted buyers already.
New buyers can acquire some by going to the official Scotty the AI website, where it’s available at $0.0068 per token.
Of course, with strong fundamentals and a growing fanbase, this price is likely to seem very cheap once the token lists.
The post Bonk Price Prediction as BONK Hits All Time High – $1 BONK Incoming? appeared first on Cryptonews.
