Immutable

Bonk

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Immutable (<a href="https://crypto.news/price/immutablex/">IMX</a>) and Bonk (<a href="https://crypto.news/price/bonk/">BONK</a>) take center stage as the global crypto market capitalization declines.&nbsp; 
According to <a href="https://coinmarketcap.com/charts/#market-cap" target="_blank" rel="noopener">data</a> from CoinMarketCap (CMC), the global cryptocurrency market cap declined by 0.7% in the past 24 hours and is currently standing at $1.8 trillion. The total digital currency daily trading volume, however, increased by 3.7%, surpassing the $45 billion mark, per CMC.&nbsp; 
Despite the downward market movement, IMX gained 10.4% in the past 24 hours and is trading at $3 at the time of writing. The asset’s market cap surpassed the $4 billion mark, making it the 21st-largest cryptocurrency.&nbsp; 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="347" src="https://crypto.news/app/uploads/2024/02/Immutable-X-IMX-12.55.46-12-Feb-2024-1024x347.png" alt="IMX surges 10%, BONK drops 10% as the market goes red - 23" class="wp-image-14247478">
 <figcaption class="wp-element-caption">
 IMX price, social volume and RSI – Feb. 12 | Source: Santiment
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</figure> 
IMX’s 24-hour trading volume witnessed a 3.6% decline and is currently hovering around $224 million.&nbsp; 
 You might also like: <a href="https://crypto.news/new-york-ag-lawsuit-dcg-3-billion-genesis-settlement/"> New York extends lawsuit against DCG to $3b after Genesis settlement </a> 
According to data provided by Santiment, the <a href="https://crypto.news/injective-immutable-among-top-cryptocurrency-gainers/">IMX</a> social volume declined by 57% in the past 24 hours. 
On the other hand, the asset’s Relative Strength Index (RSI) surged from 77 to 81.5 over the past two days. This shows that a price downturn might be on the way as there’s a high chance of whale manipulation.&nbsp; 
For IMX to stay in the bullish zone, the token’s RSI would need to stay below the 60 mark.&nbsp; 
Quite similarly, Bonk’s social volume also declined by 31% over the past day.&nbsp; 
According to Santiment, BONK’s RSI dropped by 63 to 59.5 over the past 24 hours. The indicator suggests lower selling pressure and a lower possibility of whale manipulation.&nbsp; 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="347" src="https://crypto.news/app/uploads/2024/02/Bonk-BONK-12.55.48-12-Feb-2024-1024x347.png" alt="IMX surges 10%, BONK drops 10% as the market goes red - 24" class="wp-image-14247479">
 <figcaption class="wp-element-caption">
 BONK price, social volume and RSI – Feb. 12 | Source: Santiment
 </figcaption>
</figure> 
Despite the bullish RSI, <a href="https://crypto.news/bonk-thorchain-record-price-surges-btc-zooms-past-47k/">BONK</a> is down by 10% in the past 24 hours and is trading at $0.000013 at the time of writing. The asset’s market cap still stands above the $770 million mark, holding the 87th rank among the leading cryptocurrencies.&nbsp; 
 Read more: <a href="https://crypto.news/top-cryptocurrencies-to-watch-this-week-btc-sol-avax/"> Top cryptocurrencies to watch this week: BTC, SOL, AVAX </a>

IMX surges 10%, BONK drops 10% as the market goes red

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