BONK—the dog-themed meme coin on Solana—recently underwent a significant correction, losing nearly 14% of its value in a week, accompanied by substantial profit-taking. Despite this pullback, technical indicators and market momentum suggest potential positive signals for the upcoming week.
📌 BONK Price Overview
Market Cap: Over $1.43 billion, placing it among the top 5 meme coins.
Current Price: $0.00001875
Key Support: $0.00001572
Important Resistances: $0.00002039 and $0.00002581
Technical Indicators: Weekly MACD remains positive, RSI around neutral levels (48–49), signaling potential recovery as the market stabilizes.
🔗 On-chain & Derivative Data
Slight Decrease in Activity: Both transaction volumes and social media engagements have cooled, mainly driven by profit-taking after recent rapid gains.
Derivatives Market: Despite substantial liquidations of long positions, the long/short ratio on OKX remains high at 1.81, indicating ongoing bullish sentiment from most traders.
🚀 New Growth Catalysts
Strategic Partnership: BONK recently announced a partnership with DeFi Development Corp—a Nasdaq-listed company—to launch the first meme coin validator on Solana. This milestone aims to expand the ecosystem, enhance decentralization, and support the growth of BONKSOL (a community-operated Liquid Staking Token).
Engaged Community: This strategic move elevates BONK’s credibility and sets a significant precedent for meme coins collaborating with established enterprises, contributing to a diversified and sustainable Solana ecosystem.
📈 Short-term Scenario
If BONK maintains support levels and sees renewed inflow, the price could target resistance levels at $0.00002039 and $0.00002581 next week.
Investors should watch closely for reversal signals on daily charts, such as an upward-sloping RSI or positive MACD crossover, to confirm the recovery trend.
Are you tracking BONK’s recent developments and the growing meme coin ecosystem on Solana? Share your thoughts below!
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