{"id":11736,"date":"2024-02-12T14:30:40","date_gmt":"2024-02-12T14:30:40","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=11736"},"modified":"2024-02-12T19:50:21","modified_gmt":"2024-02-12T19:50:21","slug":"short-positions-increase-for-bonk","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/short-positions-increase-for-bonk\/","title":{"rendered":"Short Positions Increase for BONK"},"content":{"rendered":"<p>As the bears announced their presence, interest in BONK grew and short positions grew in response to the drop in value.<\/p>\n<blockquote><p>You might like:\u00a0<a href=\"https:\/\/coinengineer.net\/blog\/new-zealand-central-bank-governor-slams-stablecoins\/\" target=\"_blank\" rel=\"noopener\"><span style=\"text-decoration: underline;\"><strong><em>New Zealand Central Bank Governor Slams Stablecoins<\/em><\/strong><\/span><\/a><\/p><\/blockquote>\n<h2><span style=\"font-size: 75%;\">Traders More Likely to Short BONK Rather Than Long<\/span><\/h2>\n<p>As reported by CoinMarketCap, BONK, previously prominent in the Memecoin space, has suffered a significant drop in value, losing <strong>10.30%<\/strong> in the last 24 hours. At the same time, BONK&#8217;s trading volume decreased by 45.24% to <strong>121.65 million<\/strong> at the time of writing.<\/p>\n<p>This significant price drop follows a brief rally earlier in the year, and BONK has struggled to gain momentum since January 11. During this time, the cryptocurrency has exhibited numerous lower highs and lower lows, indicating a bearish trend.<\/p>\n<p>In terms of technical indicators, BONK&#8217;s Relative Strength Index (RSI) has dropped from 68.30 to 52.95 in recent days. The decline in RSI signals weakening upside momentum and a potential increase in selling pressure. Additionally, Chaikin Money Flow (CMF) for BONK fell from 0.22 to 0.03, indicating a decrease in the strength of money flowing into the asset and a potential shift in market sentiment towards selling.<\/p>\n<p>As for investor sentiment, short positions against BONK increased to <strong>52.6%<\/strong> at the time of writing. This increase in short positions indicates a growing bearish sentiment, with traders expecting its price to fall further.<\/p>\n<hr \/>\n<div>\n<p><em class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">You can freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Telegram<\/strong>,<\/a>\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">YouTube<\/strong><\/a>,\u00a0and\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/twitter.com\/coinengineers\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Twitter<\/strong><\/a> channels for the latest news and updates.<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>As the bears announced their presence, interest in BONK grew and short positions grew in response to the drop in value. You might like:\u00a0New Zealand Central Bank Governor Slams Stablecoins Traders More Likely to Short BONK Rather Than Long As reported by CoinMarketCap, BONK, previously prominent in the Memecoin space, has suffered a significant drop<\/p>\n","protected":false},"author":6,"featured_media":11752,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[2420,4320,230,1332,1683],"class_list":["post-11736","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-coin-analysis","tag-bonk","tag-chaikin-money-flow","tag-coinmarketcap","tag-memecoin","tag-rsi"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Short Positions Increase for BONK - Coin Engineer<\/title>\n<meta name=\"description\" content=\"As the bears announced their presence, interest in BONK grew and short positions grew in response to the drop in value.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/short-positions-increase-for-bonk\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Short Positions Increase for BONK - 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