Hadiqa Crypto Master
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Bullish
$BONK
š„šøBonk announced a significant move this Thursday, revealing plans to burn a total of 2.02 trillion tokens to commemorate the BONKdragon and the 2025 Lunar New Year.
šøDespite experiencing a slight dip of nearly 5% in value this week, the price of Bonk showed signs of recovery, climbing to $0.000018.
šØ This strategic token burn is expected to reduce supply and enhance scarcity, potentially leading to a rise in the token's value. The news was shared on the social platform X, drawing attention to the growing optimism surrounding Bonkās market potential.
š¤š«The move comes at a time when Bonk's market sentiment is notably positive. According to Coinglass data, the long-to-short ratio for Bonk has reached its highest level in over a month. This suggests a growing number of traders are betting on the assetās price increase. This shift in sentiment could potentially propel Bonk to new highs if the momentum continues. Traders are increasingly confident in the price rise as more market participants engage in long positions.
šš„From a technical perspective, Bonk's price has managed to maintain stability, recently bouncing off the $0.000015ā$0.000014 support zone. Should this support hold firm, Bonkās price could see an additional 40% rise, aiming for a retest of its resistance level at $0.000025. On the daily chart, the Relative Strength Index (RSI) has moved away from overbought territory, signaling a recovery and slight strength in price momentum. However, for sustained positive momentum, the RSI must remain above the 50 mark.
šøšThis growth in market optimism is reinforced by Bonkās long-to-short ratio hitting a level of 1.14, marking the highest point in over a month. Such an indicator is often seen as a signal of bullish sentiment, with traders increasingly confident in the assetās future potential. As more traders place their bets on Bonk, the market could experience a sustained uptrend, providing a strong foundation for further price gains.
#USBitcoinReserves #BERAAirdropAlert #Write2Earn #BONKš„š„ $BONK
š„šøBonk announced a significant move this Thursday, revealing plans to burn a total of 2.02 trillion tokens to commemorate the BONKdragon and the 2025 Lunar New Year.
šøDespite experiencing a slight dip of nearly 5% in value this week, the price of Bonk showed signs of recovery, climbing to $0.000018.
šØ This strategic token burn is expected to reduce supply and enhance scarcity, potentially leading to a rise in the token's value. The news was shared on the social platform X, drawing attention to the growing optimism surrounding Bonkās market potential.
š¤š«The move comes at a time when Bonk's market sentiment is notably positive. According to Coinglass data, the long-to-short ratio for Bonk has reached its highest level in over a month. This suggests a growing number of traders are betting on the assetās price increase. This shift in sentiment could potentially propel Bonk to new highs if the momentum continues. Traders are increasingly confident in the price rise as more market participants engage in long positions.
šš„From a technical perspective, Bonk's price has managed to maintain stability, recently bouncing off the $0.000015ā$0.000014 support zone. Should this support hold firm, Bonkās price could see an additional 40% rise, aiming for a retest of its resistance level at $0.000025. On the daily chart, the Relative Strength Index (RSI) has moved away from overbought territory, signaling a recovery and slight strength in price momentum. However, for sustained positive momentum, the RSI must remain above the 50 mark.
šøšThis growth in market optimism is reinforced by Bonkās long-to-short ratio hitting a level of 1.14, marking the highest point in over a month. Such an indicator is often seen as a signal of bullish sentiment, with traders increasingly confident in the assetās future potential. As more traders place their bets on Bonk, the market could experience a sustained uptrend, providing a strong foundation for further price gains.
#USBitcoinReserves #BERAAirdropAlert #Write2Earn #BONKš„š„ $BONK
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