Dogecoin and Bonk Rally, But Experts Warn of Market Correction
Santiment, a market intelligence platform, reported a notable increase in discussions around memecoins such as Dogecoin $DOGE and $BONK . This spike occurred because both tokens experienced a price spike, attracting the attention of traders. However, market experts suggest that when focus shifts to speculative assets, such as memecoins, a correction is likely to follow.
- Dogecoin's RSI is approaching overbought levels indicating a potential price correction, but room for short-term growth remains.
- Bonk's RSI remains neutral, hinting at price stabilization despite the recent downtrend and weakening bullish momentum.
- Increased speculative activity in Dogecoin and Bonk derivatives suggests mixed market signals, with liquidations driving a potential correction.
