Immutable (IMX) and bonk (BONK) is attracting attention as global crypto market capitalization declines.
According to Coingecko data, the global cryptocurrency market value decreased by 0.7% in the last 24 hours, currently reaching $1.8 trillion. However, total digital currency daily transaction volume increased by 3.7%, exceeding $45 billion.
Despite the downward market movement, IMX gained 10.4% in the last 24 hours. In addition, at the time of writing, it is trading at $3. The asset’s market value exceeded $4 billion, making it the 21st largest cryptocurrency rose to unit position.
IMX‘s 24-hour trading volume decreased by 3.6%. It currently hovers around $224 million. Despite this decline, IMX still holds a strong position in the market and continues to gain traction among investors.
On the other hand, the asset’s Relative Strength Index (RSI) increased from 77 to 81.5 in the last two days. This indicates that a price drop may be on the way due to the high possibility of whale manipulation. It is stated that for IMX to remain in the bullish zone, the token’s RSI must remain below the 60 mark.
Similarly, Bonk’s social volume decreased by 31% in the past day. According to Santiment, BONK’s RSI decreased from 63 to 59.5 in the last 24 hours. This indicator indicates lower selling pressure and less likelihood of whale manipulation.
Despite the rise in the RSI, BONK has experienced a 10% decline in the last 24 hours. At the time of writing, it is trading at $0.000013. Despite this decline, the asset’s market cap is still over $770 million and ranks 87th among leading cryptocurrencies.
