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Bonkanalysis

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.
Long
by paul_endeo
2
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
BONK surges 10%. Will the rally sustain?BONK’s price was bearish in the early hours of the day before support was established at the intra-day low of $0.00002. However, with the announcement of the treasury proposing an 84 billion token burn, the digital asset witnessed a 10% surge, reshaping investor sentiment and market trend. This strategy is part of a broader effort to enhance token scarcity and increase its value over time. This can be considered as the turning point for BONK since decreasing the supply is usually positive for the investors. This burn according to the announcement represents the q2 amount of BONK sent to the DAO from BONKBot. In April, the BONK Decentralized Autonomous Organization (DAO) had already set a precedent for such impactful decisions. The DAO passed a proposal to burn a staggering 278.39 trillion BONK, with the community vote showing overwhelming support: 418.63 trillion votes in favor, representing 99.9% approval.  The technical indicators on the BONKUSDT price chart point to continued bullish momentum. The Money Flow Index (MFI) rating of 68 suggests that money flows in the BONK market may sustain a bullish rally.  In addition, the Moving Average Convergence Divergence (MACD) has shifted into the positive region and above its signal line, reflecting a strengthening bullish trend. Moreover, the histogram developing higher bars suggests that buying pressure is increasing. Concurrently, with a Relative Strength Index (RSI) rating of 67, this bullish momentum will likely trend upwards, with a potential target of $0.00003600 after hitting a double-bottom pattern on the 4-hour price chart. 
Long
by paul_endeo
$BONK short term symmetrical triangle pattern about to break outUpdate: I have upgraded my account, so now I can do better charts. This is an update of my previous SEED_DONKEYDAN_MARKET_CAP:BONK idea published yesterday. Note that I am selling nothing, not affiliated to anything. It is my personal unbiased trading strategy. Introduction SEED_DONKEYDAN_MARKET_CAP:BONK is one of the most explosive memes in the top 100 crypto. Handle with care, as it can blow up at any time. It is the "official" meme of Solana. While, like CRYPTOCAP:FLOKI , the meme itself is horrible visually, the community is huge and active. History SEED_DONKEYDAN_MARKET_CAP:BONK experienced a 30% pullback and is ready to pump again by 29%. If it passes through the $0.00003586 resistance, there is nothing to stop it until $0.00004424. Chart Analysis We can see the formation of a short term symmetrical triangle formation that is about to break out. The target of this for this pattern is $0.00003747 It is a meme; it is a very risky idea, so DYOR as always. We do not recommend the use of technical analysis as a sole means of trading decisions. We do not recommend making hurried trading decisions. You should always understand that PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.
by CryptoNikkoid
2
🦊 BONK🦊 is Ready to Pump🚀➕30%🚀🔥In the past few months, memecoins have been doing very well and they have very good profits for their followers. It seems that these few months have been 😂 memecoin season 😂; although many people are against this type of token, the fact is that there were good profits in these few months. 🦊Today I want to analyze one of the popular memecoins these days. The name of this meme is BONK . 🏃‍♂️ BONK is moving near the 🟢 Support zone 🟢 and 🟡 Potential Reversal Zone(PRZ) 🟡. 🌊According to Elliott's theory , BONK seems to be completing wave 4 . 📈In terms of Classic Technical Analysis , BONK has succeeded in breaking the Neckline of the Inverse Head and Shoulders Pattern in the Daily time frame .👇 💡Looking at the BONKBTC chart, we can see that BONKBTC has managed to break the neckline of the Double Bottom pattern , and this is a sign of BONK's better situation than Bitcoin .👇 🔔I expect BONK to rally at least another 🚀 ➕30% 🚀 and attack the 🔴 Resistance zone 🔴. ❗️⚠️Note⚠️❗️: An important point you should always remember is capital management and lack of greed. Bonk Analyze (BONKUSDT), 4-hour time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Long
by pejman_zwin
1