Flow

2024

Bonk

MN Coin

<ul> 
 <li>BONK topped the list of cryptos in terms of Alt Rank.</li> 
 <li style="font-weight: 400;">Metrics looked bullish, but a few market indicators supported the bears.&nbsp;</li> 
</ul> 
<a href="https://ambcrypto.com/search/bonk" target="_blank" rel="noopener" data-wpel-link="internal">Bonk [BONK]</a> bulls were nowhere stopping as the meme coin’s value continued to surge. A possible reason behind this uptrend was revealed by LunarCrush, which pointed out a bullish metric that might have a role to play. 
<h4>BONK surges in double digits</h4> 
Investors enjoyed massive profits from BONK over the past few days. According to <a href="https://coinmarketcap.com/currencies/bonk1/" target="_blank" rel="noopener nofollow external noreferrer" data-wpel-link="external">CoinMarketCap</a>, the meme coin was up by more than 7.8% in the last seven days. In fact, in the last 24 hours alone, BONK’s value shot up by 15%. 
At the time of writing, the coin was trading at $0.00001481 with a market capitalization of over $937 million, making it the 67th largest crypto. 
Thanks to the price uptick, BONK’s Price Volatility 1w shot up substantially. This hike was accompanied by a rise in trading volume, which is a bullish signal. 
<div id="attachment_363123" style="width: 100%" class="wp-caption aligncenter">
 <a href="https://statics.ambcrypto.com/wp-content/uploads/2024/01/Bonk-BONK-15.51.11-10-Jan-2024.png" data-wpel-link="internal"><img aria-describedby="caption-attachment-363123" decoding="async" class="wp-image-363123 size-full" src="https://statics.ambcrypto.com/wp-content/uploads/2024/01/Bonk-BONK-15.51.11-10-Jan-2024.png" alt="" width="3840" height="1300" srcset="https://statics.ambcrypto.com/wp-content/uploads/2024/01/Bonk-BONK-15.51.11-10-Jan-2024.png 2560w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/Bonk-BONK-15.51.11-10-Jan-2024-300x102.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/Bonk-BONK-15.51.11-10-Jan-2024-1024x347.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/Bonk-BONK-15.51.11-10-Jan-2024-768x260.png 768w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/Bonk-BONK-15.51.11-10-Jan-2024-1536x520.png 1536w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/Bonk-BONK-15.51.11-10-Jan-2024-2048x693.png 2048w" sizes="(max-width: 3840px) 100vw, 3840px"></a>
 Source: Santiment
</div> 
Moreover, Ben GCrypto recently posted a tweet, in which he highlighted a crucial metric that gave an overview of what worked in the meme coin’s favor. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Top 5 Coins by Alt Rank: January 9th Alt Rank is a unique measurement by <a href="https://t.co/SjCk33fhRi" data-wpel-link="external" target="_blank" rel="nofollow external noopener noreferrer">https://t.co/SjCk33fhRi</a>, that combines actual altcoin price performance relative to <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="nofollow external noopener noreferrer">#Bitcoin</a> and social activity indicators.<a href="https://twitter.com/search?q=%24BONK&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="nofollow external noopener noreferrer">$BONK</a> <a href="https://twitter.com/search?q=%24SEI&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="nofollow external noopener noreferrer">$SEI</a> <a href="https://twitter.com/search?q=%24ICP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="nofollow external noopener noreferrer">$ICP</a> <a href="https://twitter.com/search?q=%24INJ&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="nofollow external noopener noreferrer">$INJ</a> <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="nofollow external noopener noreferrer">$SOL</a> <a href="https://t.co/cWFVBU407Z" data-wpel-link="external" target="_blank" rel="nofollow external noopener noreferrer">pic.twitter.com/cWFVBU407Z</a> 
 — Ben GCrypto (@GCryptoBen) <a href="https://twitter.com/GCryptoBen/status/1744651915898601611?ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="nofollow external noopener noreferrer">January 9, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
As per the tweet, BONK ranked number one on the list of cryptos by Alt Rank on the 9th of January. 
For the uninitiated, Alt Rank is a metric provided by LunarCrush designed to assess a cryptocurrency’s community and traction and compare that across the entire cryptocurrency marketplace. 
Thus, BONK’s Alt Rank clearly indicated that the <a href="https://ambcrypto.com/solana-can-memecoin-bonk-aid-with-sols-move-north/" target="_blank" rel="noopener" data-wpel-link="internal">meme coin</a>’s price would increase. 
<h4>Whales are also buying BONK</h4> 
It was also interesting to see that whales showed increasing confidence in the meme coin. As per a tweet by Lookonchain dated the 9th of January, a whale sold <a href="https://ambcrypto.com/search/solana" target="_blank" rel="noopener" data-wpel-link="internal">Solana [SOL]</a> tokens worth thousands of dollars to accumulate 3.29 billion BONK. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 This smart trader who made ~$6.9M on <a href="https://twitter.com/search?q=%24BONK&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="nofollow external noopener noreferrer">$BONK</a> spent 386 <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="nofollow external noopener noreferrer">$SOL</a>($40K) to buy 3.29B <a href="https://twitter.com/search?q=%24BONK&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="nofollow external noopener noreferrer">$BONK</a> again today! 
 He accumulated 371.4B <a href="https://twitter.com/search?q=%24BONK&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="nofollow external noopener noreferrer">$BONK</a> in 9 months at a cost of only 6,998 <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="nofollow external noopener noreferrer">$SOL</a>($276K) and sold half of the <a href="https://twitter.com/search?q=%24BONK&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="nofollow external noopener noreferrer">$BONK</a> during the <a href="https://twitter.com/search?q=%24BONK&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="nofollow external noopener noreferrer">$BONK</a> surge for 50,139 <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="nofollow external noopener noreferrer">$SOL</a>($5.2M).<a href="https://t.co/pOFRD2ndI8" data-wpel-link="external" target="_blank" rel="nofollow external noopener noreferrer">https://t.co/pOFRD2ndI8</a> <a href="https://t.co/lkgGm13G0e" data-wpel-link="external" target="_blank" rel="nofollow external noopener noreferrer">pic.twitter.com/lkgGm13G0e</a> 
 — Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1744605955646783915?ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="nofollow external noopener noreferrer">January 9, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
<h4>Will BONK continue rising?</h4> 
AMBCrypto’s look at Coinglass’ data revealed that the possibility of BONK continuing its uptrend was high. Notably, the meme coin’s Open Interest increased. A rise in this metric usually denotes increased chances of a trend continuing. 
<div id="attachment_363150" style="width: 100%" class="wp-caption aligncenter">
 <a href="https://statics.ambcrypto.com/wp-content/uploads/2024/01/Coinglass-BONK.png" data-wpel-link="internal"><img aria-describedby="caption-attachment-363150" decoding="async" class="wp-image-363150 size-full" src="https://statics.ambcrypto.com/wp-content/uploads/2024/01/Coinglass-BONK.png" alt="" width="1712" height="406" srcset="https://statics.ambcrypto.com/wp-content/uploads/2024/01/Coinglass-BONK.png 1712w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/Coinglass-BONK-300x71.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/Coinglass-BONK-1024x243.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/Coinglass-BONK-768x182.png 768w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/Coinglass-BONK-1536x364.png 1536w" sizes="(max-width: 1712px) 100vw, 1712px"></a>
 Source: Coinglass
</div> 
Realistic or not, here’s <a href="https://ambcrypto.com/calculator/marketcap" target="_blank" rel="noopener" data-wpel-link="internal">BONK market cap in BTC’s terms</a>&nbsp;&nbsp; 
Additionally, BONK’s Money Flow Index (MFI) registered a sharp uptick. The <a href="https://ambcrypto.com/how-bonk-lost-its-steam-after-a-bright-start-in-2024/" target="_blank" rel="noopener" data-wpel-link="internal">meme coin</a>’s MACD also displayed the possibility of a bullish crossover, hinting at a further price rise. Nonetheless, a few metrics suggest otherwise. 
For instance, the Chaikin Money Flow (CMF) moved southward. The meme coin’s Bollinger Bands pointed out that its price was in a less volatile zone, indicating that BONK’s price rise may come to an end soon. 
<div id="attachment_363151" style="width: 100%" class="wp-caption aligncenter">
 <a href="https://statics.ambcrypto.com/wp-content/uploads/2024/01/BONKUSDT_2024-01-10_15-55-27.png" data-wpel-link="internal"><img aria-describedby="caption-attachment-363151" decoding="async" class="wp-image-363151 size-full" src="https://statics.ambcrypto.com/wp-content/uploads/2024/01/BONKUSDT_2024-01-10_15-55-27.png" alt="" width="1564" height="792" srcset="https://statics.ambcrypto.com/wp-content/uploads/2024/01/BONKUSDT_2024-01-10_15-55-27.png 1564w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/BONKUSDT_2024-01-10_15-55-27-300x152.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/BONKUSDT_2024-01-10_15-55-27-1024x519.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/BONKUSDT_2024-01-10_15-55-27-768x389.png 768w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/BONKUSDT_2024-01-10_15-55-27-1536x778.png 1536w" sizes="(max-width: 1564px) 100vw, 1564px"></a>
 Source: TradingView
</div>

What to expect from BONK as a key metric turns bullish

AMBCrypto

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