Heres what Gnosis needs to do to flip BONK on the market cap charts
Before correcting somewhat, Gnosis [$GNO] climbed by 13% in just 24 hours. In fact, it recorded a rally that hinted at whether the token can flip one of the markets leading memecoins, $BONK, by market capitalization. Such a flip would lift Gnosis to the 100th spot among tokens by market capitalization. At the time of writing though, Gnosis held a market cap of $303.88 million against $BONKs $330.07 million. And yet, despite it being close enough to tempt a flip, yet Gnosis may ease into consolidation and not mount it just yet. Structural warnings surface for Gnosis At the time of writing, indicator-based analysis suggested that Gnosis has moved into overvalued territory and may struggle to sustain its rally in the near term. The first signal came from the price pushing into the upper Bollinger Band (BB). The indicator gauges valuation by price position as while a move above the red upper band points to overvaluation, a drop below the lower band signals undervaluation. Source: TradingView The price typically retreats after tagging the upper band, often sliding back towards the middle band, which sat at $112.91 in this case. Should that level hold as support, the rebound could resume from there. Stronger sell pressure, however, could drag the





