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<p>Bonk saw immense volatility this past week. After crashing over 70% from its post-Binance listing euphoria, BONK managed to hold key support <a href="https://twitter.com/CryptoPatel/status/1744369928243753212" target="_blank" rel="noopener noreferrer nofollow">highlighted </a>by trader <strong>Crypto Patel</strong>:</p>
<p>BONK has experienced a significant decrease of -71% in value within a month following its listing on Binance. The current support level is at $0.000010, and if it fails to hold at this level, there is a potential risk of another -60% decline.</p>
<p>Indeed, Bonk found buying interest right around the $0.00001 level to catalyze a swift 28% single-day reversal. This also marked a 97% spike in social volume over just 24 hours, per Santiment data.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="692" src="https://captainaltcoin.com/wp-content/uploads/2024/01/chart-67-1024x692.png" alt="" class="wp-image-417005" srcset="https://captainaltcoin.com/wp-content/uploads/2024/01/chart-67-1024x692.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/01/chart-67-300x203.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/01/chart-67-767x518.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/01/chart-67-1536x1038.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/01/chart-67-2048x1384.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/01/chart-67-222x150.png 222w, https://captainaltcoin.com/wp-content/uploads/2024/01/chart-67-100x68.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/01/chart-67-518x350.png 518w, https://captainaltcoin.com/wp-content/uploads/2024/01/chart-67-788x532.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/01/chart-67.png 1048w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p><em><strong>Source: <a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="CoinStats" href="https://captainaltcoin.com/go/coinstats-3/" data-shortcode="true">CoinStats – Start using it today</a></strong></em></p>
<p>Drilling deeper, the <a class="wpil_keyword_link" href="https://captainaltcoin.com/meme-coins/" title="meme" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">meme</a> token only hit an RSI reading of 32 at the lows, well short of oversold levels, suggesting further downside remains limited.</p>
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<p>Added upside fuel stems from Bonk’s newly confirmed listing on popular spot exchange OKX to begin trading on January 9th. Previous exchange milestones sparked similar frenzies.</p>
<p>Zooming out, Bonk produced a yield exceeding 21x earlier this year as one of 2023’s top-performing meme launches. Interest appears to be stabilizing around key support despite still being down 70% from highs.</p>
<p>In summary, a confluence of holding technical support, very oversold RSI levels bouncing, and new exchange listing hype indicates Bonk may have found at least a temporary bottom. Additional volatility is still expected, but the token shows resilience after its parabolic ascent.</p>
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<p>The post <a href="https://captainaltcoin.com/why-is-bonk-price-up-today/" rel="noopener noreferrer nofollow">Why is BONK Price Up Today?</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Why is BONK Price Up Today?

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