- Regardless of the value decline, BONK’s market cap has flipped over WIF.
- Whereas AO confirmed bearish momentum, CVD indicated a attainable rise to $0.000039.
- Volatility round WIF has decreased, suggesting it may attain $3 within the quick time period
The continuing market cap battle between Bonk (BONK) and dogwifhat (WIF) took one other activate March twelfth. Beforehand, WIF surpassed BONK to grow to be the 62nd largest cryptocurrency by market capitalization.
However on the time of writing, BONK has flipped a second meme coin based mostly on Solan. Each WIF and BONK handed $2 billion by way of market capitalization a number of days in the past. Nonetheless, knowledge from CoinMarketCap confirmed each had fallen beneath the mark at press time.
Whereas BONK’s market capitalization was $1.93 billion, WIF’s was $1.85 billion. One of many causes for the decline in values could also be linked to their respective value efficiency. Within the final 24 hours, the value of WIF has decreased by 12.68%. BONK, on the opposite hand, misplaced 5.29% of its worth.
The value drop could possibly be associated to revenue taking available in the market. It is also the results of capital rotation from memecoins to different classes within the ecosystem
BONK value evaluation
At press time, the 4-hour chart of BONK/USD confirmed momentum turning bearish as indicated by the Superior Oscillator (AO). On a detrimental AO studying, BONK value has the potential to fall to $0.000026.
Nonetheless, Cumulative Quantity Delta (CVD) was in optimistic territory. This implies that there have been extra buys than promote orders. If this continues to be the case, the value of BONK could bounce again.
However one factor Coin Version observed was that CVD had stopped. So the optimistic worth could possibly be the results of shopping for strain for the reason that starting of March. If CVD strikes larger then BONK could retest $0.000039. If not, the worth could lower.
BONK/USD 4-Hour Chart (Supply: TradingView)
WIF value evaluation
Like BONK, WIF value fell because the crimson candlestick pushed it all the way down to $1.87. Nonetheless, WIF might be able to retest $2 on account of indications from purchase/promote quantity.
Beforehand, the purchase/promote quantity was detrimental. However with the indicator rising into the inexperienced space, WIF may exit the bearish state. If that had been the case, the market cap may as soon as once more battle with BONK for the 62nd place.
When it comes to volatility, the Bollinger Bands (BB) confirmed that the bands have contracted. As such, it could possibly be troublesome to see WIF rising to $3.
WIF/USD 4-hour chart (supply: TradingView)
In a extremely bullish case, the value of WIF may attain $2.35. Then again, bearish momentum may pull the value all the way down to $1.14.
Disclaimer: The data supplied on this article is for informational and academic functions solely. This text doesn’t represent monetary recommendation or recommendation of any sort. Coin Version shall not be accountable for any losses incurred because of the usage of stated content material, services or products. Readers are suggested to train warning earlier than taking any motion associated to the Firm.
Disclaimer: The data supplied on this article is for informational and academic functions solely. This text doesn’t represent monetary recommendation or recommendation of any sort. Coin Version shall not be accountable for any losses incurred because of the usage of stated content material, services or products. Readers are suggested to train warning earlier than taking any motion associated to the Firm.
