Bonk token was launched on December 25, 2022.
The cryptocurrency has risen by four-digit percentages since its launch.
BONK price has cooled and is trending downward and may demand lower levels.
Crypto has always treated his fans with twists, turns, and surprises. The cryptocurrency community likes it this way. This is because it is a time to make money quickly while the market is sleeping. In 2022, we experienced the massive launch of ApeCoin. Before the problem could be resolved, the Optimism airdrop appeared with a thud! The year couldn’t have ended in a better way for cryptocurrency fans. Bonk Token (BONK/USD).
if you are a fan meme token, then BONK will not miss your watchlist after its heroic entry into the cryptocurrency world. BONK, launched on December 25, 2022, caused a sensation, with its price rising by four digits. Tokens also dominated social trading platforms. Analysts credited the Solana community for the popularity of the new dog-themed token. The former is based on the Solana network.
Nevertheless, if history is truly a good teacher, we must learn that its benefits may not last forever. We saw a very hyped launch that drove the price of the token up, but then the price fell. BONK may be no exception. As of press time, the meme cryptocurrency has lost at least 50% of its value from its all-time high. It’s a classic phrase. If you didn’t board early, don’t board now. Technical indicators show that BONK may fall further.
BONK falls as price finds slight support
TradingView BONK/USDT Chart
Looking at the 4-hour chart outlook, BONK is trading nervously at the support zone. As prices fell, the rising highs also lowered. Buy-side volume has improved slightly at support, but not enough to push the price of BONK higher.
BONK price prediction
As the hype around the BONK launch dies down, prices may continue to fall. Investors may view BONK as an overvalued asset. Profit taking and panic selling can also come into play and force a bearish breakout.