BONK Up 40%, FLOKI Up 20% – Memecoin Mania Returning?

  • BONK’s social volume increased and it started trending on social media.
  • FLOKI metrics also appeared bullish.

As market conditions changed, meme coins took the opportunity to increase their values.

While popular meme coins like FLOKI recorded double-digit growth, BONK became the star of the show as its value increased by a whopping 40%.

BONK surprises investors

Days after bitcoin [BTC] After finishing its fourth halving, the market witnessed a surge as cryptocurrency prices rose. Among the rest, BONK was one of the biggest gainers, as its value skyrocketed 40% in just the last 24 hours.

According CoinMarketCapAt the time of writing, the meme coin was trading at $0.00002145 with a market capitalization of over $1.4 billion.

The good news was that BONK’s trading volume also increased by more than 200%, which provided the basis for the bullish rally. The meme coin also became a topic of discussion in the crypto space as its social volume skyrocketed.

AMBCrypto analysis of Santiment data revealed that the weighted sentiment of the meme coin improved, hinting that the bearish sentiment around the meme coin decreased in recent days.

Our look at BONK’s daily chart suggested that the bullish rally could continue. In particular, the meme coin’s Chaikin Money Flow (CMF) recorded a strong rally.

Its money flow index (MFI) also surpassed the neutral mark. On top of that, BONK price surpassed its 20-day SMA, a further sign that the bullish rally would last.

AMBCrypto then checked Hyblock Capital data to find possible targets that BONK could hit in the coming days. We found that the meme coin had a smooth path to the $0.0000232 mark.

At that level, liquidation will increase, which could lead to a slight price correction. A successful break above the level could see BONK touch $0.000025.

FLOKI also follows the trend

While BONK rose by 40%, FLOKI also turned bullish as its value increased by more than 20% in the last 24 hours. At the time of this publication, it was trading at $0.0001744 with a market capitalization of over $1.6 billion.

Meme coin metrics also seemed quite optimistic.


Realistic or not, here it is BONK market capitalization in terms of BTC


FLOKI’s open interest increased along with its price. Furthermore, its financing rate was low. Generally, prices tend to go in the opposite direction to the financing rate; This was a sign that FLOKI’s bullish trend could continue.

FLOKI’s MACD showed the possibility of a bullish crossover. Its Chaikin Money Flow (CMF) also headed north, indicating that the meme coin’s price could rise further in the coming days.

Next: It is analyzed whether PEPE’s 35% gains will last until April

This is an automatic translation of our English version.

 
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