BONK could surge 50% with support from Fibonacci at 0.38 golden ratio - CryptoCrazeNews

BONK could surge 50% with support from Fibonacci at 0.38 golden ratio

BONK could surge 50% with support from Fibonacci at 0.38 golden ratio

BONK could surge 50% with support from Fibonacci at 0.38 golden ratio

The Solana-based meme coin BONK is once again catching the attention of investors, possibly due to its bullish move from Fibonacci’s 0.38 Golden Ratio level. In addition to this optimistic outlook for the third-largest meme coin BONK, the overall cryptocurrency industry is also experiencing a bullish trend. In the last 24 hours, the entire crypto industry has surged by over 4.5%.

BONK surpasses DOGE and SHIB in price performance

The top meme coins like DOGE and SHIB are still struggling as in the last 24 hours both tokens experienced only 2.5% of upside momentum. While the BONK meme coin experienced over 15% upside momentum in these 24 hours. 

Currently, the meme coin BONK is trading near $0.0000118, and in the last 24 hours, it experienced over 15% upside momentum. If we look at BONK for a longer period, in the last 7 days, BONK experienced 11% upside momentum, whereas in the last 30 days, it experienced over 8% downside momentum. 

BONK technical analysis and upcoming levels

According to expert technical analysis, BONK is looking bullish as its price shows bullish momentum from Fibonacci’s 0.38 golden ratio level, which is at $0.0000098. However, this is a crucial level for BONK, but currently, the bullish move it is experiencing indicates that in the upcoming days, its price could soar by 50% and hit the $0.000017 level.

Besides Fibonacci’s 0.38 golden ratio level, another bullish price action is observed on the chart, which is the double bottom structure on a daily time frame. In the upcoming days, if BONK gives a breakout of $0.0000119 level, then we may see a price of $0.000017.

However, the major reason behind this significant price surge is not yet known, but it might be because of a few developments. Recently, on February 7, 2024, BONK made a post on X (previously Twitter) where it highlighted that BONK community members designed cool games named BONKz on BONK. In this game, players can win BONK tokens every week for free if they become the highest scorers.

Despite this cool game on BONK, one more thing that is attracting crypto enthusiasts is the BONK airdrop. According to Backpack, if any crypto enthusiast has traded BONK tokens for the last two weeks, they will receive a BONK token for free. These free BONK tokens and the ongoing development of the BONK ecosystem are attracting significant users from the cryptocurrency landscape.

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