๐ BONK Dips Hard โ But Bulls Are Circling! ๐ถ๐ฐ Time to Buy the Dip?
BONK, the Solana-based memecoin, fell 3.9% in the past 24 hours to $0.00002383, facing strong selling pressure. The token swung between $0.00002486 and $0.00002360, posting a wild 50.3% volatility โ far exceeding typical altcoin moves! โก๐
Despite multiple bounce attempts, BONK hit a brick wall at $0.00002480, where sellers aggressively offloaded. However, buyers showed strong interest near the $0.00002360 support, stepping in with heavy volumeโincluding 682B tokens traded at 21:00 UTC. ๐๐ณ
A brief 0.53% rebound in the European afternoon hinted at a possible shift in sentiment, with 35B+ tokens traded between 13:36โ14:04 UTCโsuggesting a mix of institutional interest and short covering. ๐๐ฆ
๐ Technical Snapshot
๐ Volatility: 50.3% intraday (between $0.00002486 and $0.00002360)
๐ก๏ธ Support: Strong buyer defense at $0.00002360
๐ซ Resistance: Firm cap at $0.00002480
๐ Trend: Late bounce suggests short-term reversal potential
๐ Momentum: RSI neutral โ room to run up!
๐ Growth Outlook & What Experts Say
Market experts are cautiously optimistic:
> โBONK is showing signs of accumulation near key support. A breakout above $0.00002480 could spark a run toward $0.00002600,โ says CoinDesk Research.
โVolume is the key โ if bulls hold the line, BONK could surprise to the upside in the short term.โ ๐ฅ
With support holding strong and buyers stepping in on dips, this might be the accumulation phase before a new leg up. ๐ง ๐
๐ก Conclusion: Buy the Dip? ๐
BONKโs steep drop could be a golden opportunity for risk-tolerant traders. With strong support, rebound signs, and increasing buyer interest, BONK may be gearing up for a breakout. But until it clears $0.00002480, caution and patience remain key. โ ๏ธ๐ฌ #dyor