Boost

Solana

Strong

Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/investors-boost-bonk-prices" data-wpel-link="internal" rel="noopener noreferrer nofollow">Investors Boost BONK Prices</a><br></p>
<p style="text-align: justify">The start and end of 2023 were vastly different for the <a href="https://en.bitcoinhaber.net/raoul-pal-foresees-a-potential-soar-in-solanas-value" data-wpel-link="internal" rel="noopener noreferrer nofollow">Solana</a> network and its token, SOL. After hitting rock bottom following the FTX events, SOL later saw a recovery. A significant driver of this recovery was the smartphone SAGA and the accompanying BONK airdrop, which energized the market and led to substantial gains. But what is happening with BONK now?</p>
<h2 id="bonk-comments-and-expectations">BONK Comments and Expectations</h2>
<p style="text-align: justify">Currently, BONK’s price appears to be on an upward trajectory due to recent investor activities. This could help it recover from last month’s price drop, which followed a 50% correction. A notable change has occurred: BONK’s funding rate shifted from negative to positive over an 11-day period. This indicates a strengthening of long positions, a reversal from the previous short dominance.</p>
<p style="text-align: justify">With the positive funding rate on the rise, investor optimism towards the cryptocurrency has increased. These positions taken by <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investors</a> could prompt a price surge for BONK <a href="https://newslinker.co" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">in the near future</a>. Simultaneously, the correlation between BONK and Bitcoin has reached a high of 0.94, suggesting that BONK’s price movements are closely following those of Bitcoin.</p>
<p style="text-align: justify">This strong correlation implies that any potential movement in Bitcoin’s price could similarly affect BONK. Stability and a potential rise in Bitcoin could propel the meme coin towards an upward price increase.</p>
<h2 id="what-could-affect-bonk-s-price">What Could Affect BONK’s Price?</h2>
<p style="text-align: justify">BONK is currently trading at approximately $0.00002077, slightly below the $0.00002153 support level. If the altcoin rises above $0.00002500, it could reverse the 48% drop seen over the past month. Although the $0.00002748 price target might seem distant, investor support and an upward move in Bitcoin could push BONK to new levels.</p>
<p style="text-align: justify">Conversely, if the price falls below $0.00002000, it could drop to $0.00001500. If this support fails, BONK’s price might decline further to $0.00001375.</p>
<h2 id="concrete-investor-insights">Concrete Investor Insights</h2>
<p style="text-align: justify">Key inferences for investors considering BONK:</p>
<ul>
 <li>Positive funding rates indicate increased optimism and potential for price growth.</li>
 <li>Strong correlation with Bitcoin suggests BONK could benefit from any BTC price stability or rise.</li>
 <li>Critical price levels to watch are $0.00002000 and $0.00002500 for potential support and resistance.</li>
</ul>
<p style="text-align: justify">In summary, recent developments suggest that BONK might experience a price recovery influenced by investor sentiment and Bitcoin’s performance. Close monitoring of these factors could provide valuable insights for potential gains or risks.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/investors-boost-bonk-prices" data-wpel-link="internal" rel="noopener noreferrer nofollow">Investors Boost BONK Prices</a></h5>

Investors Boost BONK Prices

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