The price of Bonk cryptocurrency surged by 12% over the last 24 hours, driven by increasing investor interest.
Bonk Price and Support and Resistance Levels
The price of Bonk is currently resting on a support level at $0.00003176. Should the Solana meme coin fall below this mark in the next eight hours, it may reach the next support level of $0.00002759. Conversely, maintaining a price above $0.00003176 for twelve hours could lead to an attempt to surpass the resistance level at $0.00003639.
Technical Indicators Suggest Potential Directions
Technical indicators on the 4-hour chart provide no clear forecast for Bonk's price movement. The Relative Strength Index (RSI) hovers near the neutral 50 mark, indicating a slight bullish undertone. The MACD lines are trading at the same level, reflecting traders' anticipation of a directional push.
Meme Coin Market and the Role of Meme Index
The surge in meme coin interest has led to new cryptocurrency launches. The Meme Index project offers unique investment baskets to easily invest in these assets. Experts, including popular analyst Jacob Bury, are optimistic about MEMEX, which has already raised over $2.7 million through its ICO.
Investments in meme coins like Bonk and Meme Index are gaining popularity among investors due to their profitability potential and diversified investment opportunities.
