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Bonk

BONK: will the 1 trillion token burn fuel price growth?The Solana (SOL)-based memecoin BONK rallied 100% in the past seven days, driven by an overall market pump and a massive deflationary plan to burn 1 trillion tokens.  On 15th November, Bonk DAO announced the deflationary plans with the 2024 Christmas deadline.  Immediately after the news, BONK pumped 27% and added on its weekly gains, which crossed 100% amid an extra weekend pump. For context, burning tokens reduces supply and ultimately boosts the value of the remaining assets.  The extra pump on Sunday eyed the immediate bullish target of $0.000057 on the Fib tool. If the uptrend extended, the next target would be $0.000067, offering an extra 40% potential gains. But BONK grabbing the extra gains could only be feasible if the mememcoin stayed above its previous ATH.  That said, technical indicators showed massive buying interest but an overheated market scenario. The Stochastic RSI was in oversold territory, while the OBV (On Balance Volume) reached new highs.  Interestingly, leveraged bulls also FOMO’ed on the BONK’s rally. The OI (open interest) rates surged 3X, from about $50M to over $150M in just days. This suggested that leveraged players took massive debts to place bullish bets on BONK.  Market pundits expect the BONK rally to extend, partly due to the expected 1T token burn. However, the broader market sentiment could determine the next price direction for the memecoin.
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by paul_endeo
2
BONKUSDT Ready for Big PUMP!!!BINANCE:BONKUSDT has recently broken out and successfully retested a previous resistance level, showing signs of strength. Now, it’s attempting to break out of a triangle pattern, with the resistance line acting as a key barrier. If it manages to break through, a significant upward move could be on the horizon, fueled by the ongoing memecoin craze. However, caution is advised—consider using only a small portion of your capital to manage risk in this volatile environment. BINANCE:1000BONKUSDT.P Currently trading at $0.000036 Buy level: Above $0.000033 Stop loss: Below $0.0000262 Max Leverage 3x Always keep Stop loss Follow Our Tradingview Account for More Technical Analysis Updates, | Like, Share and Comment Your thoughts
Long
by GreenCryptoTrades
1
Massive Monthly Signal on $BONK: Clear Path Ahead!We’ve got a strong monthly signal on $BONK. While it doesn’t have the same extended targets as other coins, the direction is crystal clear! An entry around 0.000022 would be optimal. Anything lower than that would be a gift. I’ll be scaling back in after exiting the previous trade on the daily chart (it wasn’t ready to expand then). Now, with the macro signal in place, the outlook looks much stronger. Targeting above 0.0001.
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by ZelfTrade
1
BONKUSDT: Bullish Momentum After Breakout!BONKUSDT has successfully broken through key resistance and trendlines, setting the stage for higher highs. With the MEME frenzy in full swing, we could see a significant price movement ahead! Remember to keep your stop loss in place to manage risk. This is a potential opportunity you won’t want to miss! BONKUSDT Currently trading at $0.0256 Buy level: Above $0.0235 Stop loss: Below $0.02 TP1: $0.027 TP2: $0.033 TP3: $0.04 TP4: $0.045 Max Leverage 3x Follow Our Tradingview Account for More Technical Analysis Updates, | Like, Share and Comment Your thoughts
Long
by GreenCryptoTrades
BONK among top-gainers. How far will the breakout go?In the last 24 hours, memecoins have taken the spotlight, suggesting a potential memecoin season. Leading the gainers list among the top 100 cryptocurrencies by market cap is Bonk (BONK) which is up by 3.8%, followed by Dogecoin (DOGE) with a 3.2% increase. Bonk’s price action is currently displaying strong bullish momentum, raising the question of whether BONK/USDT will break out and surge higher as we approach the final quarter of the year. This period is historically bullish for the crypto market. The pair is trading within a large symmetrical triangle, with the price moving closer to the resistance of this pattern. The symmetrical triangle, which has been forming since the start of the year, indicates that traders and investors have accumulated significant amounts of Bonk. The potential for a breakout seems imminent. Earlier, the pair formed a triple bottom at the $0.000016 zone, a pattern that typically signals a reversal. This triple bottom has been confirmed by a break above the neckline, but a breakout above the upper resistance is crucial for the bullish scenario to play out. Several indicators support the idea that Bonk could break out and rally. For instance, the MACD has fully flipped bullish, with the histogram bars indicating increased buying momentum. This further strengthens the bias that it could break above the resistance and pump significantly. If the breakout occurs, traders could see a potential return of more than 70%, from the breakout zone to BONK’s all-time high.
Long
by paul_endeo
What to expect from Bonk (BONK)?BONK coin have surged nearly 10% in the past week. With a market cap exceeding SEED_TVCODER77_ETHBTCDATA:1B , its popularity has kept them resilient amid market downturns. As part of the Solana blockchain, which ranks third in Total Value Locked (TVL) at $5.3 billion, Bonk coin’s staking volume has reached $43 million. This reflected a growing interest in utilizing BONK within the DeFi ecosystem. As noted earlier, BONK’s volume has sharply declined from nearly half a billion post-listing to $188 million at press time. However, bulls have managed to stave off a pullback, bringing BONK coin closer to its previous rejection level at $0.00002201. Ultimately, beyond the listing, much depends on Bitcoin action, particularly in the long run – sustained optimism in the network could see both tokens surpass their previous rejection levels.
Long
by paul_endeo
Alikze »» WIF | Ascending wave 5🔍 Technical analysis: Ascending wave 5 - According to the analysis presented in the 12H time frame in the previous post , after not being able to break the supply zone, it followed a downward trend with a zigzag correction to the green box. - But currently it is moving in a downward channel in the daily time frame, which after creating a demand in the green box range, has now faced a zigzag correction after an upward wave. - Therefore, in the lower time frames, I expect a growth in the form of wave C to the ceiling of the channel after the break in the middle of the channel. - According to the movement structure, this complicated zigzag corrective wave 4 seems to have ended. - Therefore, if there is no stabilization under the green box area, we should see the channel failure. 💎 Also, corrective wave 4 should not overlap in the 0.53 cents area, in which case the bullish scenario will be invalidated. »»»«««»»»«««»»»««« Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support. Best Regards,❤️ Alikze. »»»«««»»»«««»»»««« MEXC:WIFUSDT
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by alikze
Trade Setup: BONK Long PositionMarket Context: BONK is experiencing a pullback after a strong recovery bounce. We anticipate the price to start filling the daily wick before making another move higher. Entry should be carefully timed to manage risk, with clear invalidation levels. Trade Setup: Entry: Ladder into the position between $0.00001714 and $0.00001661. Take Profit: First target: $0.00001853 Second target: $0.00001975 Stop Loss: Conservative approach: Close under $0.00001629. Aggressive approach: Close under $0.00001538. 📊 Adjust your risk management based on your strategy and monitor the market for potential entry triggers. #BONK #CryptoTrading #RiskManagement 🎯
Long
by Richtv_official