Is BONK Heading For New All-Time High Amid Murad Meme Supercycle

Bonk Crypto is capturing the spotlight for investors, both old and new .

Bonk’s 2024 gains and corrections have been rollercoasters, prompting speculation about its next trajectory. Today, let’s explore its current standing and the odds of a bullish breakout.

$BONK inverse head and shoulder pattern 👀

The breakout will BONK to new highs 🚀 pic.twitter.com/cMz1eAsWoA

— Dylan (@DylanTillEth) October 17, 2024

Bonk Crypto’s Recent Price Action: A Roller Coaster Ride

( BONKUSD )

Bonk Crypto Price Trading volume in 24h Last 7d price movement surged to an all-time high on March 5, soaring 400% from its February dip. But the euphoria was short-lived, crashing 75% shortly after.

Now, in early October, Bonk teeters on a knife edge, testing support at 1.65B and resistance at 1.70 B. A break above could ignite a bullish run, but traders should tread cautiously until a breakout is clear.

🐕 Charity in Memes:

Bonk contributor breaks Guinness World Record for most dogs walked at once, raising awareness for animal adoption. Bonk launches donation platform for global animal causes.

4/6

— CoinMarketCap (@CoinMarketCap) October 8, 2024

Bonk’s technical indicators are sending mixed signals. The RSI stands at 40.52, hinting it’s approaching oversold levels but not quite there, suggesting potential upward movement.

Yet, the MACD still shows bearish momentum, although the negative trend is softening.

$BONK a mild rejection is coming soon but this is going to go much higher, especially given the way it chopped and consolidated recently. Buy the next pullback IMO pic.twitter.com/6MiAznfsrS

— Altcoin Sherpa (@AltcoinSherpa) October 17, 2024

Bonk Crypto is at a pivotal point. A break above its descending resistance could spark a bullish trend, needing to clear the 20-day moving average at 1.698B to boost bullish confidence and aim for the 200-day SMA. Failure to do so might deepen the “falling knife” scenario, making it risky to anticipate a rebound without clear trend reversal signals.

What Lies Ahead for Bonk Crypto?

Bonk Crypto presents a mix of risks and opportunities; grasping the technical terrain is vital for investors eyeing its volatility.

While a bullish breakout is possible, we believe that we will see an upward volatile market until macro events like the 2024 Presidential election conclude. The Fed announces its next move to cut interest rates (or pause).

One New Memecoin That Will Outperform $Bonk

( Flockerz )

While Bonk crypto deserves to be on your radar, Flockerz is HIM. Or her? Who the heck knows?

Launched with a bang,  Flockerz ($FLOCK) quickly pulled in over $750,000 in its presale. Known as “The People’s Meme Coin,” Flockerz offers a unique vote-to-earn feature and exceptional staking rewards, reshaping community interaction.

Who needs wings when you’ve got muscle? pic.twitter.com/HlXI6rGePY

— Flockerz (@FlockerzToken) October 15, 2024

Central to its design is Flockerz’s Flocktopia, a  decentralized autonomous organization  (DAO) that empowers every $FLOCK holder.

As it stands, 2.4 billion $FLOCK tokens (20% of the total supply) are available for presale at $0.000056785 each.

Equal shares of tokens are earmarked for marketing, aiming for global exposure and exchange listings, while 10% (120 million $FLOCK) is set aside for exchange liquidity. Additionally, 25% of the supply is designated for the DAO treasury to support the project’s development.

Get Your Bag and Jump on The Flockerz Bandwagon Now

EXPLORE:  What is ‘Operation Kraken’? Australian Authorities Crack Crypto Wallet And Seize $6.4 Million In Assets