BONK Inu It is at a crucial point where continued bullish growth could not only take a breather but reverse its gains. Analyst Ali Martinez noted that a previous BONK indicator that showed a buy signal during the 8,422.58% bull run also gave a sell signal today.
Martinez’s favorite indicator of trend-consuming patterns, the TD Sequential indicator and its accompanying reversal, are showing a sell signal, a sign that the month-long growth may eventually reverse. Although the analyst does not predict exactly when the reversal will be triggered, perhaps one to two weeks suggested.
Flashback to just before $BONK‘s 8,422.58% bull run – the TD Sequential indicator had presented a buy signal on the weekly chart!
Now, the same indicator is showing a sell signal. This suggests #BONK might be heading into a correction period lasting one to four weeks. pic.twitter.com/qjEHO9ss0o
NEWS CONTINUES BELOW— Ali (@ali_charts) December 11, 2023
At the time of writing, BONK is arguably one of the best-performing cryptocurrencies at a time when the majority of the market is declining. meme coin, is trading at $0.00001235, up 13.35% in the last 24 hours and more than 458% in the past month. This impressive milestone marks a very important trend for BONK, which is working at a furious pace to surpass some of its peers in annual growth records.
Koinfinans.com As we reported today, there are many meme coins with their own ideals and communities. But not all of them have seen the kind of success BONK has seen since its emergence this year.
Despite the launch of Shibarium Shiba Inu (SHIB) has managed to grow only 15.59% to date, compared to the 11,265.85% growth recorded by BONK in this period. BONK is still in its infancy and its current market cap of $756,275,130 has the potential to grow in the long term. But these impressive price statistics don’t change the fact that BONK still ranks below its peers in terms of core ecosystem benefit, like Shibarium’s to the Shiba Inu.