BONK (BONK) has experienced a noteworthy surge in interest in recent weeks, resulting in its market value surpassing that of Floki Inu (FLOKI). After testing resistance levels at $0.00001934 on April 14, BONK’s price has nearly doubled, indicating a 103% increase.
BONK’s Ascending Formation
In March, BONK’s price followed a double top pattern before experiencing a decline. Subsequently, the price of BONK continued to fall, displaying multiple lower highs and lows, signaling the emergence of a downward trend.
Despite these factors, BONK managed to gather significant bullish momentum, leading to a rise that exceeded the initially established low levels. While the trend has not completely reversed, it appears more likely that BONK could surpass the $0.00002946 level in the future.
If BONK achieves this, its next target could be the $0.00003654 level. However, as of now, BONK’s Chaikin Money Flow (CMF) has decreased significantly in recent days, reaching -0.17 levels. This suggests a notable decrease in money flow towards BONK recently, which may be attributed to some investors taking profits.
Comparison Between BONK and FLOKI
The Relative Strength Index (RSI) for BONK has also dropped to 47.68 in recent days. At the time of writing, BONK’s momentum has become neutral, indicating possible sideways movement. The social volume surrounding BONK has experienced a significant increase in recent days, signaling a rise in its popularity on social media platforms.
However, the weighted sentiment surrounding the token has decreased. Currently, this means that negative comments outweigh positive ones. In comparison to BONK, FLOKI has seen a decline in social volume and a significant drop in weighted sentiment. FLOKI is currently trading at $0.0001689, marking a 6.58% decrease.
Disclaimer:
The information provided in this article should not be considered as investment advice. Investors should be aware that cryptocurrencies are highly volatile and carry inherent risks. It is recommended that investors conduct their own research.
