BONK Price Drops 54% as Meme Coin Market Capitalization Falls 42%
Meme coins have experienced significant declines, with a 42% drop in total market capitalization over the past month. Individual tokens like BONK have lost over 80% of their value, with BONK specifically down by 54%. The current price of BONK is approximately $0.00001565, marking a slight increase of 1% in the last 24 hours.
BONK Price Analysis
- BONK is near the lower Bollinger Band, indicating oversold conditions.
- Current support level is $0.0000091; holding this may lead to a price reversal.
- Key resistance at $0.00001815; failure to reclaim could maintain selling pressure.
- RSI at 31.22 suggests potential for short-term rebounds.
- Bullish momentum possible if prices surpass $0.000018 and break above the 50-day moving average.
- 1.618 Fibonacci extension at $0.00001072 serves as crucial support; losing this may trigger further declines.
Meme Coin Market Overview
- Meme coin market value has decreased by $43 billion, now totaling $67 billion.
- Trump's meme coin OFFICIAL TRUMP dropped 75%, losing over $10 billion in market cap.
- LIBRA token collapsed, dropping from $4.4 billion to almost nothing.
- Broader crypto market capitalization stands at $3.16 trillion, up by 0.4% in the past day.