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BONKUSD trade ideas

Why BONK Price Surged? Bonk's recent surge was sparked by the announcement of the first BONK ETP at Solana Breakpoint 2024, with Osprey Funds launching the Osprey Bonk Trust for accredited investors. The trust has already amassed over $48 million in assets under management, indicating strong initial demand. This development is a significant bullish signal for the meme coin, boosting enthusiasm within the Solana ecosystem as investors show confidence in Bonk's growth potential. Chart analysis has further fueled optimism, revealing a bullish "inverted head-and-shoulders" pattern. If BONK can maintain its position above the neckline, it may aim to retest yearly highs. Bitcoin's recent rise has also contributed to a broader cryptocurrency market recovery, which could provide additional support for BONK's upward momentum. BONK's ability to stay above this key resistance level has made it a focal point for traders and enthusiasts.
COINBASE:BONKUSDLong
by Sam_TCR
Bonk Stalls Near The lows: A Recovery Or Another Price Failure? Bonk Stalls Near The lows: A Recovery Or Another Price Failure? Despite the recovery in several altcoins, Bonk price stalls near the lows struggling for a recovery. The transaction volume dropped by over 15% indicating a fading interest among the investors. While Bitcoin and several altcoins headed for a recovery in the second week of September. On the other side, Bonk was still struggling for a firm footing near the lows. Earlier, Bonk noted a nearly 228% rise in the 1st half of 2024 that took the price to a new high. However, the bears attacked in the second half erasing most of the gains. Despite strong gains in the 1st half, the crypto seems to be in trouble at the moment and may be poised for further losses. At the time of writing, Bonk was trading close to $0.0000169 with a mild intraday loss of 0.97%. It ranks 58th in the crypto space with a live market capitalization of $1.19 Billion. As the bulls find it difficult to recover despite recovery in the broader markets, bears may try to widen the losses in the short term. Bonk Transaction Volume & Volatility Analysis Bonk is the first dog themed coin on the Solana blockchain. Nearly half of the total supply was distributed to the Solana community. Launched in December 2022, BONK is a meme coin which aims to bring back liquidity to Solana based DEXs. It has a total supply of 92.87 Trillion BONK tokens, out of which nearly 70.3 Trillion tokens are in circulation at present. Fully diluted market cap stands at $1.566 Billion. Moreover, the volume analysis indicated a drop of nearly 15.5% in demand in the last 24 hours. The intraday trading volume was $79.04 Million. As per the data obtained from Santiment, the volatility curve was in a declining trend indicating reduced volatility in the assets price. The transaction volume as well as volatility was lower indicating fading investors interest in the crypto. Can Bulls Struggle Result In A Positive Trend Shift The Bonk Bulls seemed to be struggling for a firm footing near the demand zone. The bears are retaining the trend control which is evident as Bonk price stalls at the lows. Also, the price forms a lower high structure over the daily chart which may invite more sellers over a short term rebound. Bonk price hovers below all the key Exponential moving averages which are also serving as a dynamic resistance in the short term. On the lower side, any breakdown would re-establish the formation of another lower low and the downtrend may follow, raising concerns among the investors. As of now, $0.0000157 is the critical support which if breached may melt the price more. Moreover, On the way to recovery, Bonk may face several resistance from dynamic ones of key EMAs to recent swing highs of $0.000022 level. The bulls need more strength and volume to encounter the selling pressure. At the time of writing, the MACD indicator line and signal line were placed below the zero line indicating a selling pressure in domination. Also a bearish crossover between both the lines were about to happen indicating a worse scenario ahead for the investors.
CRYPTO:BONKUSDShort
by Ritika_TCR
Bonk (BONK)Bonk (BONK) BONK is the first dog-themed coin on Solana, created "for the people, by the people," with 50% of its total supply airdropped to the Solana community. The memecoin is similar to Shiba Inu (SHIB) and Dogecoin (DOGE). It has a live market capitalization of $1.56 Billion and ranks 52nd in the crypto-verse. Out of 92.9 Trillion BONK tokens, 69.08 Trillion tokens are currently in circulation. On the charts, Bonk emerged as the second biggest loser this week, with a decrease of nearly 24.8% a week. The price analysis highlighted that BONK started the week with a mild bearish sentiment. It significantly declined after it dropped below the 20-day exponential moving average. At the time of writing, Bonk was trading close to $0.000022, recording a swift intraday rise of 0.10%. On the lower side, the 200-day EMA may serve as a support, and the price may take a rebound.
CRYPTO:BONKUSDLong
by Ritika_TCR
Decoding BONK Price Chart & Its Forecast The daily chart presents that BONK is trading in a parallel upward channel. The derivatives are high, and the optimistic analysts on X suggest a much higher possibility of BONK Resurging in coming sessions. (DYOR). Previously, on the daily chart, the BONK had two major swing highs or peaks; from that peak (BONK/USD: COINBASE), it declined from supply to around $0.0004201. It looks like a double-top pattern, and it wasn’t completed. Instead of falling, it showed a bullish presence with lil-bounces from the wedge's lower boundary. Therefore, if the BONK price surpasses $0.00002960, then it bounces for the wedge upper boundary (DYOR). Thus, in the course, the interruptions could stand near $0.00003601. However, facing a decline from $0.00002960 could lead toward the lower wedge boundary, and breaking beyond would lead toward the major demand zone at $0.00001251. So, investors should stay cautious and do their own research. Indicators show a surge above 50-day and 200-day EMA's. MACD shows a growing histogram at 0.00000053, and RSI flashes at 57.35, signifying a bullish possibility.
COINBASE:BONKUSDLong
by Sam_TCR
1
Bonk Loses Steam Amid Token Burn Announcement: Snaps Weekly GainBonk Loses Steam Amid Token Burn Announcement: Snaps Weekly Gains Bonk stepped down nearly 19% in the last couple of sessions and now left with a mere 6% weekly gains. The latest BONK burning proposal on BONK DAO is successfully passing the quorum with 954B vote points ascribed to ‘Yes’. Bonk stepped down nearly 19% in the last two sessions and trimmed off most of the weekly gains. The 1st of this week went well for Bonk investors. The price recorded an impressive 24% growth in the 1st half of the week. However, the bears dominated in the second half of this week and trimmed off most of the gains. At the time of writing, Bonk was exchanging hands close to $0.000022 and now left with a mere 6% weekly gains. BONK is touted as the first dog-themed coin on Solana, created "for the people, by the people." Half of its total supply, or 50 trillion coins, has been airdropped to the Solana community. It has a live market capitalization of $1.54 Billion and ranks 52nd in the cryptoverse. BONK Supply Reduction: 84 Billion Tokens to Be Eliminated With the sellers enjoying the party today, Bonk has experienced a fall of nearly 5.79%. While the bulls may look to defend the price near $0.000019 to $0.000021 in the short run, the overprinted supply of BONK is expected to significantly influence the coin's long-term trajectory. 🚨JUST IN: Quorum has reached for @bonk_dao's proposal to burn 84B BONK ($2M) from its Treasury. pic.twitter.com/7rDaMEneey— SolanaFloor (@SolanaFloor) July 11, 2024 By now, BONK has seen several substantial token burns, with a maximum supply of 93,526,183,276,778. Consequently, the remaining supply of BONK is now capped at 69,323,849,993,769. Furthermore, The latest BONK burning proposal on BONK DAO is successfully passing the quorum with 954 billion vote points in favor. With 99.5% of all BONK holders with DAO voting rights approving this 84 billion burn proposal, its execution would remove somewhere around $2 million worth of BONK from circulation. The daily transaction volume lies close to $259.18 Million after a intraday decline of 15.30%. The volume to market cap ratio at 16.85% suggests high volatility in the cryptocurrency. Can Bonk Overcome Challenges? The recent sessions have turned into a challenge For Bonk as the bulls could not capitalize after gaining 25% in the 1st half of the week. Thereafter, the bears trimmed off most of the gains in the last couple of sessions leaving at a mere 6% weekly gain. However, the bulls might register their presence near the $0.000020 and the price may improve thereafter. The daily chart illustrates the formation of a consolidation range. On the higher side, the $0.000026 level has been acting as a resistance where $0.0000193 has been acting as a support for the price. Now a breakout or breakdown on either side may indicate a clear trend in the short run. What’s Next For Bonk? BONK has dropped nearly 19% in the last couple of sessions, trimming off most of the weekly gains. Despite a successful BONK burning proposal passing with 954 billion votes, bears dominated the latter half of the week. At the time of writing, BONK was exchanging hands close to $0.000022, with bulls likely defending the $0.000019 to $0.000021 range. The recent burn proposal will remove $2 million worth of BONK. The daily chart highlights a consolidation phase near the demand zone. The price may show directional movements if it breaks out on either side of consolidation.
COINBASE:BONKUSDLong
by Ritika_TCR
Unfolding BONK Price Chart, Based On Recent Trading Activity!Over looking the meme-coins chart closely, it has been found trading in a parallel upward channel, which looks like a pretty good chart on the daily. Over looking at the bullish perspective, the derivatives are high, and the shared positive news on socials, develops a much higher possibility of BONK bouncing (DYOR). The BONK had two peaks since its first candle (BONK: COINBASE), which encountered a major decline from supply standing tall around $0.0004200. Thus, the price declined, which looked like a double top pattern, but it failed to complete. Instead of continuing to fall, it showed a resurgence from the wedge's lower boundary. As per the above-mentioned analyst theory, if the price manages to surpass $0.00002960, then it could have an easy-peasy 1:2 RR target at the wedge above the boundary (DYOR). Thus, in the course, the interruptions could stand near $0.00003600. However, facing a decline from $0.00002960 could lead toward the major demand zone at $0.00001250. So, Investors should stay cautious and dig into their own research.
COINBASE:BONKUSDLong
by Sam_TCR
Bonk Crypto Nearing Its Annual HighsBonk Crypto Nearing Its Annual Highs Echoing the ethos of memecoins like Shiba Inu and Dogecoin, BONK was launched in December, 2022. It is a dog themed coin on Solana. The core mission of its creators is to revitalize liquidity within the ecosystem of Solana's decentralized trading platforms. A significant portion, amounting to 50 trillion BONK coins, has been allocated to those actively involved in sustaining and enhancing the Solana ecosystem. Bonk has emerged as another cryptocurrency capturing investor interest. A market downturn a few months back had diminished its value, but a recent surge of over 53% in a week reflects a restored faith from investors. Bonk is on the way to reclaim its annual and All time high of $0.000047. At the time of writing, the crypto was up over 15% in Intraday and lies merely 17% below its record high. The aggressive bullish trend suggests that Bonk may continue to climb, potentially surpassing its previous record high.
COINBASE:BONKUSDLong
by Ritika_TCR
1
demand of buyers increases in the BONKThe BONK price has shown a remarkable structure between bulls and bears on the daily chart. The Price was in bullish favor earlier, as it journeyed from $0.00001000, after a plenty consolidation and reached a peak of $0.00004750, where the candle gave closing at $0.00003800 by March 4th, 2024. Thereafter, by March 5th, 2024, the price ended up in a wedge and developed a lower low structure and developed support at $0.00001250 by April 13th, 2024, where the candle gave a closing at $0.00001380, which became new support. From this very new support of around $0.00001380 on the chart, the crypto has revealed a trait of resurgence, and the price spiked upwards on 20th April 2024, which represented a breakout in a bullish pattern known as a falling wedge pattern. It's evident on the chart that the falling wedge pattern breakout peaked at $0.00002950 By April 25th, 2024, it started consolidating in range and ended up in an ascending triangle pattern. This pattern works as a continuation pattern of the trend,as it gears up to crack the resistance level and rocket to new peaks from the current support zone. This could throw a new spike in the coming sessions for higher levels. The BONK asset is showing bullish signs and displays that it has the potential to grow further, its market capitalization is 1.48 Billion, and its 24-hour trading volume was 238.65 million. At press time, the BONK crypto is experiencing a surge of 0.70% in the last 24 hours, trading at $0.00002303. Therefore, if the demand of buyers increases in the BONK asset price, it could bounce back from the current level, and a breakout could be achieved. The next target for the price could be to reach $0.00002950, and $0.00003400. However, if the BONK crypto price fails to stay above the $0.00001950 level, it could decline further toward lower key support levels.
COINBASE:BONKUSDLong
by Sam_TCR
Bonk: The Crypto to Eye Amidst Improved Market Sentiments In the past week, both the 7-day and 24-hour active address counts have seen an increase, signaling a positive shift in sentiment. Investors in Bonk are preparing for a potential rebound to its April 25 peak value of $0.00002966. Over the last few sessions, the cryptocurrency market has seen a significant recovery, with Bitcoin climbing from a low close to $56,000 to its current price near $63,700. This uptrend has positively influenced different sectors, particularly the meme coin niche, with BONK experiencing a 9% increase. With the market mood on the upswing, investors are keeping a keen eye on the price trends and forecasts for these widely-followed meme digital currencies. Let's explore the insights and future outlook provided by cryptocurrency analysts and specialists. BONK: Weighted Sentiments Points To A Recovery? The positive shift in the broader cryptocurrency market's mood could bode well for BONK, as the increase in active addresses suggests that major players were positioning themselves in anticipation of the market's upturn, hinting at a possible uptick for the cryptocurrency in the future. Additionally, the charts have shown an uptick in weighted sentiment, lending more credibility to the prospect of a forthcoming recovery. Typically, the count of active addresses is a measure of the distinct users engaging in transactions over a specified timeframe. A greater volume of transactions denotes enhanced liquidity, making it more attractive to investors. Is Bonk Poised for Continued Upward Momentum? Since April 20, Bonk was in an uptrend, bouncing back from the 200-day Exponential Moving Average (EMA). Should this upward trend persist, Bonk might approach its April 25 high of $$0.00002946$$, marking 18% increase from its CMP. Currently, Bonk is trading at $$0.0000250$$. However, Bonk may encounter resistance near its May 5 peak of $$0.00002918$$. On the downside, support might be found at $$0.0000210$$, aligning with the 50-day EMA and a recent low point. The Relative Strength Index (RSI) was at 54.35, and the Simple Moving Average (SMA) was placed close to 57.2, both indicating a neutral position rather than an overbought condition. Also, the price was above the key EMAs of 50 and 200 days suggesting a positive outlook. Now, if Bonk price closes below $$0.0000210$$ and the 50-day EMA on the daily chart, it could negate the optimistic outlook. In such a case, Bonk might fall back to $$0.00001766$$, reaching the lower demand zone. Conclusion. The cryptocurrency market is recovering, with Bitcoin rising towards $63,700.The memecoin BONK has also recovered nearly 9% on a broader market recovery. Also, Increased active addresses and positive weighted sentiment indicate a market upturn, potentially benefiting BONK. Now, If the recovery continues, BONK could add 18% gain to its April 25 high of $0.00002946. Resistance may occur near $0.00002918, with support at $0.0000210. The RSI and SMA suggest neutrality. On the flip side, A close below $0.0000210 could reverse gains, possibly leading to a drop to $0.00001766.
CRYPTO:BONKUSDLong
by Ritika_TCR
the BONK crypto asset is exhibiting bullish features The BONK Crypto experienced a bullish trend from February 2024, rising from the support level of $0.00001000 to a high of $0.00004751 by the first week of March 2024, where it closed at $0.00003800. However, from the second week of March 2024, the price began to plummet and ended up in a downward wedge, violating the earlier uptrend. Despite this, the BONK crypto has shown signs of recovery as the price rebounded from a significant support level of around $0.00001350 on the chart. The breakout of the falling wedge pattern, a strong bullish pattern, suggests that BONK crypto may continue its upward trend and reach new peaks from its current price level. The BONK asset appears to be continuing its steady rise and displaying bullish strength as it remains above the major 20-day and 50-day EMA bands. The MACD also indicates a strong bullish crossover, with a histogram at 0.00000138, the MACD line at 0.00000053, and the signal line at -0.00000085. Additionally, the RSI is moving higher, indicating that the BONK crypto asset is not overbought and can maintain its upward direction. An overall analysis of the chart shows that the BONK crypto asset is exhibiting bullish features and may reach higher levels by continuing its ongoing breakout on the daily chart. It displayed good performance in the previous week, with a 75.42% increase, indicating strong upward momentum and the potential to retest the supply level at $0.00004000. As of press time, the BONK crypto is trading at $0.00002720, with an intraday gain of 2.35%, a 24-hour trading volume of 652.97 million, and a market capitalization of 1.68 Billion. If the price continues to attract more buying interest, it could achieve higher targets at $0.00003000 and $0.00003500. However, if the price fails to sustain support at $0.00002400, price gains may begin to decline and hit lower support levels.
COINBASE:BONKUSDLong
by Sam_TCR