In the past 24 hours, memecoins FLOKI and BONK have been in the spotlight among market participants due to significant price fluctuations.
Key Aspects of FLOKI’s Surge
FLOKI strengthened its position by overcoming the critical level of $0.000088 with high trading volume. One of the factors boosting buyer interest was the completion of one million transactions in the Valhalla game and the minting of 125,000 NFTs on the opBNB mainnet. The Relative Strength Index (RSI) reached 76.3, serving as a positive signal for market participants.
Conditions for Sustaining Momentum in BONK
BONK, a popular memecoin within the Solana ecosystem, surpassed the long-standing resistance level of $0.00002434. Interest from institutional investors increased after Grayscale added BONK to its watchlist in Q3. Additionally, the burning of 100 billion BONK coins (valued at $3.4 million) increased supply tightness.
Conclusions on Memecoins
Despite the high RSI (85.9) for BONK, which indicates overbought conditions, the 24-hour trading volume surged to $2.41 billion, signaling sustained buyer interest. High volatility risks should be considered by investors. The short-term resistance for BONK is set at $0.00004681, and if current growth continues, new highs could be approached.
The price increase in memecoins FLOKI and BONK indicates a rise in market interest. However, high volatility may present risks for investors.
