Bonk Price Prediction: BONK Soars 12% As Rex And Osprey File For A Bonk ETF, While This New ICO Enables Diversified Meme Coin Investing

4 hours ago 10

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The Bonk price soared over 12% in the last 24 hours to trade at $0.00003273 as of 6:26 a.m. EST as investors begin to stock up on the meme coin.

This rise in the BONK price comes after asset managers REX Shares and Osprey filed applications for an ETF (exchange-traded fund) for the crypto just 24 hours after US President Donald Trump’s inaugural ceremony and his appointment of Commissioner Mark Uyeda as acting Securities and Exchange Commission (SEC) Chair.

Bonk Price Resting On A Support Level

BONK Chart Image

4-hour chart for BONK/USD (Source: GeckoTerminal)

The Bonk price is resting on a support level at $0.00003176. Should the Solana meme coin drop below this mark within the next 8 hours, it could stand the risk of falling to the next support level at $0.00002759.

Conversely, the Bonk price maintaining a position above the $0.00003176 support for the next 12 hours might invalidate the bearish thesis. In this more bullish case, the meme coin could attempt a challenge at the $0.00003639 resistance level. A 4-hour close above this technical barrier might then lead to a climb to as high as $0.00004067 in the short term.

Technical Indicators Suggest The Bonk Price Could Go In Either Direction

From a technical perspective, indicators on the 4-hour chart suggest the Bonk price could go either way. More specifically, the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) give no clear indication of what BONK might do next.

In recent hours, the RSI line has started to level off. The latest readings slightly above the neutral 50 mark suggest a slight bullish undertone. However, sellers can easily take control of the Bonk price if they collectively decide to do so in the next few hours.

Meanwhile, the MACD line and MACD Signal lines are trading close to the same level as well. This could indicate that traders are waiting on the sidelines for either bulls or bears to step in and push the Bonk price up or down.

While traders wait to see which direction the Bonk price will move in next, investors are turning their attention to Meme Index (MEMEX), a presale token that enables diversified meme coin investing.

Crypto experts are bullish on the innovative meme index token. Among them is popular crypto analyst and YouTuber Jacob Bury, who told his more than 54K subscribers that MEMEX could be the next 10X opportunity in the market.

Offering Investors A Way To Buy Into Meme Coins That Matches Their Risk Appetite

The hype around meme coins in the last few weeks has led to the launch of several new crypto tokens by opportunistic developers looking to gain from the surging interest in these lighthearted cryptos.

With new projects entering the crypto space on a daily basis, it could be difficult for investors to find the next gem that could lead to massive profits.

Meme Index, with its innovative index offering, aims to make it easier for investors to buy into and potentially profit from meme coins. The project makes this possible through multiple investment baskets that each come with different risk-reward profiles. These baskets are Meme Titan Index, Meme Moonshot Index, Meme Midcap Index, and Meme Frenzy Index.

To gain access to any of these baskets, investors simply need to purchase the MEMEX token. Thereafter, they will just need to stake their holdings towards the investment basket they want exposure to.

Investors Bet Big On MEMEX’s Future

With the bullish predictions by experts like Jacob Bury, and how easy the project makes it for investors to gain exposure to meme coins, it’s no wonder the crypto has already raised more than $2.7 million through its ongoing ICO.

Meme Index tweet