Going BONKers
BONK experienced a notable surge recently, surpassing Floki Inu in market cap. Since testing resistance levels around $0.00001934 on April 14th, BONK nearly doubled, surging by 103%.
Source: CoinMarketCap
March Madness
In March, BONK displayed a double top pattern followed by a price decline. Subsequently, it continued to decline, marked by multiple lower lows and lower highs, indicating a bearish trend.
Bullish Momentum Building
Despite the bearish trend, BONK gathered significant bullish momentum, breaking past established lower lows, hinting at a potential move beyond the $0.00002946 level in the future. A potential target lies at $0.00003654.
Indicators and Signals
However, the Chaikin Money Flow (CMF) for BONK declined notably recently, reaching -0.17, suggesting a decrease in money flow, possibly due to profit-taking. The Relative Strength Index (RSI) for BONK also decreased to 47.68, indicating neutral momentum and potential sideways movement.
Source: Trading View
Social Buzz and Sentiment
Social volume around BONK surged recently, indicating increased popularity on social media. Yet, the Weighted Sentiment declined, potentially indicating more negative than positive comments. In contrast, FLOKI experienced a decrease in social volume and a significant decline in weighted sentiment. At present, FLOKI trades at $0.0001689, down by 6.58%.
BONK: Up FLOKI: Down Source: Santiment
BONK's recent surge has been impressive, but indicators suggest a possible slowdown. While social buzz is high, sentiment may be turning negative. FLOKI, on the other hand, faces challenges with declining social activity and sentiment, reflecting its current market situation.