Can BONK Hit $0.01 Before Shiba Inu?
Alongside an enormous market rally, Bonk has reached a brand new all-time excessive at this time. Particularly, the Solana-based meme coin reached $0.00003876 and is up greater than 55% over the past 24 hours in keeping with CoinMarketCap. Subsequently, might the surge arrange BONK to hit $0.01 prior to meme coin mainstay Shiba Inu?
The surge is undoubtedly linked to the general optimistic sentiment that’s abounding the digital asset market at this time. Certainly, Bitcoin has led the way in which, reaching $66,000 on Monday, and is poised to achieve a brand new all-time excessive prior to later. But, Bonk’s efficiency amid that very same rally might set it as much as show its value in opposition to a number of the extra fashionable meme cash.
![](https://watcher.guru/news/wp-content/uploads/2023/01/bonk-solana-token-gID_4-1024x576.jpg)
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BONK Up 5,000% on The Yr, Thickens Meme Coin Competitors
There was great hope that 2024 can be a monumental 12 months for digital property. Particularly, Bitcoin was anticipated to have an enormous improve in worth linked to just lately accepted Spot Bitcoin ETFs. Furthermore, that was predicted to have an immense affect available on the market as an entire.
With March inside its first week, that has already proved to be the case. But, one of many stunning performers of the 12 months has been the Solana-based meme coin BONK. The token has already surpassed its all-time excessive and is amid an enormous surge. But, might that lead Bonk to hit $0.01 faster than Shiba Inu?
![Bonk](https://watcher.guru/news/wp-content/uploads/2023/12/bonk-solana-gID_7-1-1024x576.jpg)
![Bonk](https://watcher.guru/news/wp-content/uploads/2023/12/bonk-solana-gID_7-1-1024x576.jpg)
The meme coin subsect of the trade has seen property like Shiba Inu, Pepe, and Dogecoin dominate the discussions. Nonetheless, with 5,000% features within the 12 months, Bonk is displaying large momentum. Nonetheless, there may be nonetheless the potential that the meme coin might appropriate within the coming weeks.
For Bonk, the relative energy index (RSI) reached 90 early Monday. That notifies that the asset is firmly throughout the overbought area. Alternatively, the value has elevated past the 30-day common. But, it has additionally risen past the 200-day common. That’s not poised to proceed indefinitely, nonetheless, contemplating the beforehand talked about RSI determine.
The general ascension of BONK is probably going because of whale purchases of the asset, as its buying and selling quantity reached $1 billion on Monday. Due to this fact, there stays the priority that the worth might lower as consumers take a revenue, and a correction happens.
May it Outpace Shiba Inu and Pepe?
![Shiba Inu](https://watcher.guru/news/wp-content/uploads/2024/01/64da1705d395c6f5e83b8185_Will-Shiba-Inu-Coin-Reach-1--1024x576.jpg)
![Shiba Inu](https://watcher.guru/news/wp-content/uploads/2024/01/64da1705d395c6f5e83b8185_Will-Shiba-Inu-Coin-Reach-1--1024x576.jpg)
Nonetheless, there isn’t any understanding of the affect of the present Bitcoin run. The asset is anticipated to go towards a brand new all-time excessive, surpassing the $69,000 determine it reached in November of 2021. Subseuqnlety, the market might present extra room for Bonk to proceed ascending.
That is particularly doable because the market approaches the highly-anticipated Bitcoin halving occasion scheduled to happen on April nineteenth. Nonetheless, might Bonk attain the $0.01 degree earlier than Shiba INu? That turns into a troublesome prospect contemplating the volatility of the meme coin market.
![Let us evaluate why the latest trending meme coin, Pepe Coin (PEPE), won't be able to dethrone Shiba Inu (SHIB).](https://watcher.guru/news/wp-content/uploads/2023/05/ezgif-2-cf8dd5488b-1024x576.jpg)
![Let us evaluate why the latest trending meme coin, Pepe Coin (PEPE), won't be able to dethrone Shiba Inu (SHIB).](https://watcher.guru/news/wp-content/uploads/2023/05/ezgif-2-cf8dd5488b-1024x576.jpg)
Shiba Inu (SHIB) is up 33% at this time, and proven one other beneficiary of the meme coin Monday surge. Moreover, meme coin rivals like Pepe has elevated a outstanding 44% over the past 24 hours. At the moment, Bonk nonetheless leads these property when it comes to every day will increase amid the larger surge.
The trail to $0.01 nonetheless seems regarding, however Bonk has edged out forward of the meme cion pack as of at this time. Solely time will inform what sort of value correction takes place, with the RSI overbought indicator prone to play an essential function within the coming weeks.
Moreover, how Bitcoin performs over the following 5 days ought to present a clearer image of the sustaining potential of the present rally. Particularly because it all works to set the stage for April’s halving. But, it’s troublesome to forecast BONK persevering with its present trajectory and surpassing SHIB to achieve $0.01 regardless of their present standings.