๐ BONKโs Next Move? Accumulation Speaks Louder Than Hype
$BONK ๐ถ is up +38% in the past 7 days โ and the bulls aren't done yet.
๐ข $33.22M worth of BONK has been snapped up, mostly by spot buyers ($31.44M), moving tokens into private wallets. Thatโs a strong long-term signal ๐ฆ. Historically, such accumulation precedes major rallies.
๐ง Even โSmart Moneyโ joined the party with $1.78M in inflows โ the largest among all Solana memecoins last week, per Nansen. These wallets donโt play around.
๐ฅ Derivatives confirm the mood โ Funding Rate stays positive (0.0114%), with long positions dominating. Traders are literally paying to stay bullish ๐ธ.
๐ AMBCrypto reports BONK broke out of a bullish setup, targeting $0.00003900. But eyes on resistance at $0.00003461 and $0.00003680.
โ ๏ธ One red flag? The market is still in distribution mode. In the last 24h alone, 31.88T BONK was offloaded โ so itโs a battle between diamond hands and short-term flippers.
๐ If distribution slows, BONK could break out hard. But if sell pressure returns, it might stall the run.