Solana Meme Coins Bonk And Dogwifhat Continue To Slide; Money Is Rotating To Remittix

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: Jan 04 2025

BONK0%

WIF-0.439%

Should l Buy BONK?

Meme Coins vs. Remittix: While meme coins like Bonk and Dogwifhat can lead to significant gains, they also pose high risks of loss due to their lack of intrinsic value. In contrast, Remittix offers a more stable investment opportunity by enabling cross-border crypto payments in over 30 fiat currencies, providing utility and long-term sustainability.
Market Performance of Meme Coins: Both Bonk and Dogwifhat have experienced dramatic price fluctuations typical of meme coins, with substantial losses following initial surges. This volatility has prompted investors to seek alternatives like Remittix that promise more reliable returns.

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Technical Analysis for BONK

Technical Sentiment Analysis for Bonk (BONK) As of , Bonk (BONK) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BONK stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.

Support, Resistance & Moving Averages From a structural perspective, BONK is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Bonk (BONK) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.00000229	0.00000372	0.00000519	0.00000662	0.00000809	0.00000952	0.000011
Fibonacci	0.00000372	0.00000482	0.00000551	0.00000662	0.00000772	0.00000841	0.00000952

About BONK

According to the one-pager, BONK is the first dog-themed coin on Solana 'for the people, by the people' with 50% of the total supply of the cryptocurrency airdropped to the Solana community. BONK is similar to Shiba Inu (SHIB) and Dogecoin (DOGE) memecoins, it was launched on December 25, 2022, and led to an increase in the price of the SOL token (a rise of 34% in 48 hours). Trading began on December 30, 2022, arousing genuine interest from the crypto community.The main goal of the team is to bring back liquidity to Solana-based decentralized exchanges (DEXs). The idea of the developers was to create a full-fledged community coin that will be used across all the dApps built on Solana, and each user will have the opportunity to become part of the ecosystem, 'where everyone gets a fair shot'.BONK was airdropped randomly to Solana NFT collectors, developers, and artists, other airdrop details remain unknown. Currently, the project has a small digital footprint on the Internet, except for an active twitter account.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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