{"id":395733,"date":"2024-05-30T00:30:27","date_gmt":"2024-05-29T19:00:27","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=395733"},"modified":"2024-05-29T17:00:50","modified_gmt":"2024-05-29T11:30:50","slug":"bonk-price-prediction-decoding-if-the-memecoin-can-cross-its-ath","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/bonk-price-prediction-decoding-if-the-memecoin-can-cross-its-ath\/","title":{"rendered":"BONK price prediction: Decoding if the memecoin can cross its ATH"},"content":{"rendered":"<ul>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">BONK\u2019s Open Interest rates and capital inflows in the futures market surged to record levels<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">Although the surge is bullish for BONK\u2019s price, BTC losses could affect further upswing.\u00a0<\/span><\/em><\/li>\n<\/ul>\n<p><a href=\"https:\/\/ambcrypto.com\/category\/bonk-coin-news\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Bonk [BONK]<\/span><\/a><span style=\"font-weight: 400;\">, a <\/span><a href=\"https:\/\/ambcrypto.com\/category\/solana-news\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Solana [SOL]<\/span><\/a><span style=\"font-weight: 400;\"> homegrown meme coin, was up 20% on the weekly price charts. It was trading at $0.00004095, about 17% from its record all-time high of $0.00004770 on the 4th of March.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A move above the ATH will effectively push BONK into price discovery, i.e., into new price territory never hit before. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">In such a scenario, a crypto trader, <\/span><a href=\"https:\/\/x.com\/Ninjascalp\/status\/1795703025958609045\/photo\/1\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Ninja Scalp<\/span><\/a><span style=\"font-weight: 400;\">, projected that BONK could explode based on a similar phase in early March.\u00a0<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400;\">&#8220;$BONK &#8211; last time the dog coin entered price discovery in March, a spike in volume occurred on the Solana blockchain shortly after, with ~$2b volume daily. Will history repeat itself?&#8221;<\/span><\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">It\u2019s worth noting that historical data doesn\u2019t dictate future outcomes.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, BONK saw massive buying on-chain volume and overwhelming positive market sentiment, as shown by the Volume (marked white) and Weighted Sentiment (marked red). <\/span><\/p>\n<p><span style=\"font-weight: 400;\">This underscored BONK\u2019s bullish set-up.\u00a0<\/span><\/p>\n<figure id=\"attachment_395737\" aria-describedby=\"caption-attachment-395737\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Bonk-BONK-12.36.58-29-May-2024.png\"><img decoding=\"async\" class=\"size-full wp-image-395737\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Bonk-BONK-12.36.58-29-May-2024.png\" alt=\"BONK price\" width=\"2560\" height=\"867\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Bonk-BONK-12.36.58-29-May-2024.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Bonk-BONK-12.36.58-29-May-2024-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Bonk-BONK-12.36.58-29-May-2024-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Bonk-BONK-12.36.58-29-May-2024-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Bonk-BONK-12.36.58-29-May-2024-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Bonk-BONK-12.36.58-29-May-2024-2048x693.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Bonk-BONK-12.36.58-29-May-2024-1200x406.png 1200w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-395737\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Interestingly, Ninja Scalp\u2019s assertion on Open Interest (OI) surge during price discovery was playing out as of press time. For the unfamiliar, OI tracks capital inflows and overall sentiment in the futures market.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">At press time, BONK&#8217;s OI hit a record of $24 million, compared to the $20 million hit in early March\u2019s price discovery. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The surge in OI suggested that BONK saw massive capital inflows recently, a bullish sentiment in the futures market.\u00a0<\/span><\/p>\n<figure id=\"attachment_395738\" aria-describedby=\"caption-attachment-395738\" style=\"width: 1851px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/BONK-OI-1.png\"><img decoding=\"async\" class=\"size-full wp-image-395738\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/BONK-OI-1.png\" alt=\"Bonk price prediction\" width=\"1851\" height=\"619\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/BONK-OI-1.png 1851w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/BONK-OI-1-300x100.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/BONK-OI-1-1024x342.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/BONK-OI-1-768x257.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/BONK-OI-1-1536x514.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/BONK-OI-1-1200x401.png 1200w\" sizes=\"(max-width: 1851px) 100vw, 1851px\" \/><\/a><figcaption id=\"caption-attachment-395738\" class=\"wp-caption-text\">Source: Coinglass<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">However, liquidity maps showed considerable liquidation levels concentrated on the lower side of price action, specifically around $0.000035 and $0.000040 (levels marked by orange). <\/span><\/p>\n<figure id=\"attachment_395741\" aria-describedby=\"caption-attachment-395741\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Bybit-1000BONK_USDT-Liquidation-Heatmap3-day-2024-05-29_12_58_06.png\"><img decoding=\"async\" class=\"size-full wp-image-395741\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Bybit-1000BONK_USDT-Liquidation-Heatmap3-day-2024-05-29_12_58_06.png\" alt=\"Bonk price prediction\" width=\"2560\" height=\"1879\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Bybit-1000BONK_USDT-Liquidation-Heatmap3-day-2024-05-29_12_58_06.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Bybit-1000BONK_USDT-Liquidation-Heatmap3-day-2024-05-29_12_58_06-300x220.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Bybit-1000BONK_USDT-Liquidation-Heatmap3-day-2024-05-29_12_58_06-1024x752.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Bybit-1000BONK_USDT-Liquidation-Heatmap3-day-2024-05-29_12_58_06-768x564.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Bybit-1000BONK_USDT-Liquidation-Heatmap3-day-2024-05-29_12_58_06-1536x1127.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Bybit-1000BONK_USDT-Liquidation-Heatmap3-day-2024-05-29_12_58_06-2048x1503.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Bybit-1000BONK_USDT-Liquidation-Heatmap3-day-2024-05-29_12_58_06-1200x881.png 1200w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-395741\" class=\"wp-caption-text\">Source: Coinglass<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Typically, price action tends to move towards high liquidity levels (orange). If such a scenario plays out, the BONK price could ease to $0.000040 or $0.000035 before moving forward to $0.000045.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the price charts, the above liquidity clusters aligned with 23.6% and 38.6% Fib levels.<\/span><\/p>\n<figure id=\"attachment_395744\" aria-describedby=\"caption-attachment-395744\" style=\"width: 1950px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/BONKUSDT_2024-05-29_13-05-40.png\"><img decoding=\"async\" class=\"size-full wp-image-395744\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/BONKUSDT_2024-05-29_13-05-40.png\" alt=\"Bonk price prediction\" width=\"1950\" height=\"906\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/BONKUSDT_2024-05-29_13-05-40.png 1950w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/BONKUSDT_2024-05-29_13-05-40-300x139.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/BONKUSDT_2024-05-29_13-05-40-1024x476.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/BONKUSDT_2024-05-29_13-05-40-768x357.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/BONKUSDT_2024-05-29_13-05-40-1536x714.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/BONKUSDT_2024-05-29_13-05-40-1200x558.png 1200w\" sizes=\"(max-width: 1950px) 100vw, 1950px\" \/><\/a><figcaption id=\"caption-attachment-395744\" class=\"wp-caption-text\">Source: BONK\/USDT, TradingView<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">So, BONK could see more gains if bulls defend the 23.6% Fib level, with immediate targets at the previous ATH (0.000048) and $0.000056.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, despite the incredible buying pressure, as shown by the bullish RSI (Relative Strength Index) reading, the CMF hasn\u2019t broken above the average level.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The last time BONK hit the price discovery level, CMF (Chaikin Money Flow) was above zero. So, the capital inflow has so far been great, but CMF was below the March reading.\u00a0<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\">Realistic or not, here\u2019s\u00a0<a href=\"https:\/\/ambcrypto.com\/calculator\/marketcap\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">BONK\u2019s market cap in SOL terms<\/a><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">In fact, BONK\u2019s further upside could be delayed if <\/span><a href=\"https:\/\/ambcrypto.com\/category\/bitcoin-news\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Bitcoin [BTC]<\/span><\/a><span style=\"font-weight: 400;\"> fails to hold above the $67K level.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As Ninja Scalp stated, there\u2019s been a considerable jump in OI as BONK nears another price discovery. However, the bullish momentum could be weakened if BTC records more losses. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>BONK eyes jump the recent ATH on price charts; here are the key levels to watch. <\/p>\n","protected":false},"author":79,"featured_media":395747,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,6389,5824,66,3,4,20],"tags":[6427],"class_list":["post-395733","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-bonk-coin-news","category-memecoins","category-new-news","category-news","category-social","category-trading-view","tag-ambcrypto"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>BONK price prediction: Decoding if the memecoin can cross its ATH - AMBCrypto<\/title>\n<meta name=\"description\" content=\"BONK price prediction showed a massive jump in Open Interest rates in the futures market. 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