Dog-Themed Meme Coins Soar With WIF, FLOKI And BONK Pumping Even As Bitcoin Slides On $9BN Mt. Gox Wallet Move

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: May 28 2024

BONK-2.212%

FLOKI-2.864%

Should l Buy BONK?

Dog Meme Coins Surge: Dog-themed meme coins like FLOKI, WIF, and BONK saw a 3% increase in collective capitalization to $49.2 billion over 24 hours.
Top Performers: Byte (BYTE), Samoyedcoin (SAMO), and Ben the Dog (BENDOG) were top performers with significant gains, including BYTE soaring 43%.
Market Trends: Despite Bitcoin's slight decline, dog-themed coins surged, with SAMO leading a 6% surge in the shorter timeframe.
Leading Dog Meme Coins: WIF, FLOKI, and BONK gained over 20% in the last 7 days, while SHIB and DOGE lagged behind.
Upcoming Projects: Dogeverse (DOGEVERSE) and WienerAI (WAI) are anticipated to benefit from the positive trend as investors show interest before their launches.

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Technical Analysis for BONK

Technical Sentiment Analysis for Bonk (BONK) As of , Bonk (BONK) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BONK stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.

Support, Resistance & Moving Averages From a structural perspective, BONK is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Bonk (BONK) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.00000229	0.00000372	0.00000519	0.00000662	0.00000809	0.00000952	0.000011
Fibonacci	0.00000372	0.00000483	0.00000551	0.00000662	0.00000773	0.00000841	0.00000952

About BONK

According to the one-pager, BONK is the first dog-themed coin on Solana 'for the people, by the people' with 50% of the total supply of the cryptocurrency airdropped to the Solana community. BONK is similar to Shiba Inu (SHIB) and Dogecoin (DOGE) memecoins, it was launched on December 25, 2022, and led to an increase in the price of the SOL token (a rise of 34% in 48 hours). Trading began on December 30, 2022, arousing genuine interest from the crypto community.The main goal of the team is to bring back liquidity to Solana-based decentralized exchanges (DEXs). The idea of the developers was to create a full-fledged community coin that will be used across all the dApps built on Solana, and each user will have the opportunity to become part of the ecosystem, 'where everyone gets a fair shot'.BONK was airdropped randomly to Solana NFT collectors, developers, and artists, other airdrop details remain unknown. Currently, the project has a small digital footprint on the Internet, except for an active twitter account.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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