BONK Price Jumps 12% as ETF Buzz Fuels Investor Excitement
BONK surged 12% in the past 24 hours following renewed investor interest following REX Shares’ ETF filing.
The news triggered increased demand for BONK, indicating the potential for continued price increases.
BONK climbs after ETF filing
On Tuesday, asset manager Rex Shares submit Exchange-traded fund (ETF) applications for several meme tokens, including TRUMP, DOGE and BONK. Investor interest in BONK has since revived, with its value rising 12% in the past 24 hours.
assessment Bank/USD The one-day chart shows that this double-digit rise has pushed the price of the Meme token above the 20-day exponential moving average (EMA), which has now formed dynamic support.
The 20-day EMA calculates the average price of an asset over the past 20 days, prioritizing recent data. When the price rises above the 20-day moving average, it signals bullish momentum and confirms that buyers are gaining control. This is generally viewed as a positive indicator, encouraging increased buying activity and hinting at the potential for a continued upward trend.
Moreover, BONK’s surge Relative Strength Index (RSI) Supporting this bullish outlook. At press time, it is in an uptrend with the price at 52.57.
This momentum indicator monitors overbought and oversold conditions of an asset. Configured in this manner, it highlights increasing bullish momentum, suggesting the asset is trending towards stronger buying conditions without reaching overbought conditions.
BONK Price Forecast: Will the Rise Continue?
If this buying pressure continues, BONK price could break through the immediate resistance at $0.000033 and rise by 17% to $0.000038.
However, if sales activity restarts, Meme coins can It gave up recent gains and fell to $0.000025.
Disclaimer
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