, the price jumped by almost 6%. According to BitMEX, the BONK trading floor would open on the 11th of March by 4:00 UTC.But that was not the only announcement that caused excitement in the Bonk camp. BitMEX, in the same post on X, mentioned that it would reward some traders who actively trade theThe recent listing comes off the back of the cryptocurrency’s performance. In the last 30 days, the price of BONK has increased by 229%.
With the recent listing, BONK would likely experience an increase in adoption. If adoption increases, then the value of the token might follow. However, it is uncertain if that would happen within a short timeframe. AMBCrypto went ahead to assess if there was any change in its volume.Increasing volume and declining price action might not be great for BONK. Unless the volume increases alongside the price, the value of the cryptocurrency might continue to fall.At press time, the BONK/USD showed that the token had lost its previous bullish momentum.
However, signals from the Fibonacci extension showed that the price could climb higher later. For example, the 0.786 Fib level was at $0.000045, indicating that an entry could be around that region. On the northward end, the 3.618 Fib positioned at $0.000012, suggesting that BONK could rally toward the region.From a bearish point of view, the price of BONK might decline below $0.000030. But that potential decrease might not last. If buying pressure increases, BONK could have a first stop at $0.
Afterward, the memecoin could replicate its 30-day performance by rising in the $0.000020 direction. For that to happen, a high level of liquidity must flow into the memecoin ecosystem.Victor is a full-time journalist at AMBCrypto. Before his sojourn into the world of journalism, he was a “buy the top, sell the bottom” merchant while doubling as a sales funnel copywriter. Victor’s focus is the exciting on-chain landscape of the cryptocurrency market and its underlying technology.