Technical analysis and recent updates:

Current price: around $0.0000245

Significant updates:

Increased institutional interest: Safety Shot Inc., listed on NASDAQ, announced a $25 million treasury program for the BONK currency, with plans to purchase an additional $115 million, which could provide long-term support for the currency.

Whale activity: Market data indicates increased accumulation of the currency by major investors, reflecting positive expectations in the medium term.

Strong July performance: The price of BONK rose over 150% in July, before seeing a slight decline in trading volume during August.

Support and resistance:

Support areas (levels where price is expected to bounce upwards):

Main support: at $0.000025.

Secondary support at $0.000023.

Resistance areas (levels that may hinder continued upward movement):

First resistance at $0.000040.

Second resistance at $0.000050.

Current situation:

The price is moving near major support, and its stability above it is a positive signal.

If the price fails to maintain the level of $0.000025, it may head towards lower support at $0.000023.

Technical indicators:

The Relative Strength Index (RSI) is in the neutral zone, indicating a relative balance between selling and buying forces.

The MACD indicator shows slight weakness in momentum, with the possibility of entering a phase of volatility before taking a clear direction.

Investment recommendations:🔥

Entry area: The current price is considered suitable for partial buying as it is close to the important support at $0.000025 – $0.0000245, and additional quantity can be added if it drops to $0.0000235.

Targets: The first target at $0.000040 for partial profit taking, and the second target at $0.000050 for full or most profit taking.

Stop loss: Below $0.0000230 with a clear daily close.

Capital management: Do not risk more than 5% of your total portfolio on the trade, and split the purchase into two or three installments.

Summary:

Upside scenario: Holding above $0.000025 may push the price towards $0.000040 then $0.000050.

Downside scenario: Breaking the level of $0.000023 may open the door for a drop towards $0.000021 or lower.

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