Although the bullish advances in the cryptocurrency sector are still happening, Bonk (BONK) has somewhat slowed down its gains after reaching a new all-time high (ATH) in early March, and machine learning and artificial intelligence (AI) algorithms predict that modest increases will continue.
Indeed, Bonk could proceed with slight increases during the rest of the month, possibly hitting $0.000034 by March 31, 2024, according to the forecast by the advanced price projection algorithm over at the crypto analytics platform PricePredictions obtained on March 11.
Taking into account the dog-themed token’s current price, as well as indicators like the moving average convergence divergence (MACD), Bollinger Bands (BB), average true range (ATR), and others, this means that the algorithm sees Bonk growing its price by 8.04% until that time.
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Bonk price analysis
Indeed, the first dog-themed meme token built on the Solana (SOL) blockchain was at press time trading at $0.00003147, which indicates a decline of 2.94% in the last 24 hours, as well as an 11.90% drop across the previous seven days but also a whopping 136.07% gain on its monthly chart, as per the latest price data retrieved on March 11.
It is also worth noting that the sentiment toward BONK on its 1-week technical analysis (TA) gauges is exceptionally optimistic, rating it as a ‘strong buy’ based on oscillators in the ‘strong buy’ zone at 1 and moving averages (MA) also pointing at a ‘strong buy’ at 3.
Elsewhere, the previous price pump for Bonk coincided with the wider positive sentiment in the crypto market and with major crypto exchange Robinhood Crypto, a subsidiary of the financial services company Robinhood, listing it for select European Union (EU) jurisdictions.
All things considered, especially when looking at its TA indicators, Bonk might continue in the direction predicted by the advanced machine algorithm. However, things in this sector could change on a whim, so doing one’s own research before investing a larger sum of money is crucial.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
