Recently, Bonk cryptocurrency has been in a severe downtrend, but there might be a 15% price rebound in the coming days. The crypto market has been weak in the past month, and Bonk is no exception. Data from the Artemis platform shows that in the last month, meme coins had one of the worst performances among digital currencies. During this period, meme coins have seen a 41% decrease in market value while Bitcoin (BTC) only had a 19.2% drop. After a rapid price increase in November, Bonk failed to maintain key support levels, resulting in a fall to November’s lowest prices. As of writing, Bonk has dropped by 23% compared to November’s lows and is testing the support level of April 2024. There is no guarantee that Bonk’s price won’t go below this level, and traders should expect the downtrend to continue. However, a 15% rebound in the coming days is predicted before the downtrend intensifies. Additionally, the Short-Term Holder Net Unrealized Profit/Loss (STH NUPL) index dropped to 1.35- on February 24, indicating that short-term holders are in severe losses. The last time this index reached this level was in April 2023, after which the price improved. Although it cannot be definitively said that this decrease is a sign of the end of the downtrend. You can view the live prices of all tokens and cryptocurrencies on the real-time price page of digital currencies.
