Thu. Jul 18th, 2024
There has been a lot of talk about memecoin BONK these few days (it has given about 700% profit in the last 30 days), so I decided to analyze the chart of this token for you in a 15-minute time frame. Maybe we can still make a profit from it.

What Is Bonk (BONK)

According to the one-pager, BONK is the first dog-themed coin on Solana “for the people, by the people” with 50% of the total supply of the cryptocurrency airdropped to the Solana community. BONK is similar to Shiba Inu (SHIB) and Dogecoin (DOGE) memecoins, it was launched on December 25, 2022, and led to an increase in the price of the SOL token (a rise of 34% in 48 hours). Trading began on December 30, 2022, arousing genuine interest from the crypto community.

The main goal of the team is to bring back liquidity to Solana-based decentralized exchanges (DEXs). The idea of the developers was to create a full-fledged community coin that will be used across all the dApps built on Solana, and each user will have the opportunity to become part of the ecosystem, “where everyone gets a fair shot”.

BONK was airdropped randomly to Solana NFT collectors, developers, and artists, other airdrop details remain unknown.

It was just 11 days ago that Anatoly Yakovenko, one of the founders of Solana Labs, expressed his regret that the company’s Saga mobile phones were NOT sold. However, the company’s official account announced today that all Saga mobile phones have been sold in the US, with only a few remaining in Europe. Referring to the amount of BONK tokens that each buyer of Solana’s mobile phone will receive, Steven Zheng, director of research, said yesterday: “They want to buy Solana’s phone Because the value of the BONK tokens they receive will soon be more than the phone itself.

From the point of view of technical analysis, it seems that the BONK token is moving in a Descending Channel.

BONK also seems to be completing a Bullish Butterfly Harmonic Pattern near the Support zone and Support lines.

I expect BONK to break the upper line of the descending channel after the Bullish Butterfly Harmonic Pattern completes [in Time Reversal Zone(TRZ)] and at least rise(40%) to the Resistance zone.

Note: In general, try to risk less capital on Memecoins.

Note: An important point you should always remember is capital management and lack of greed.

Bonk Analyze (BONKUSDT), 15-minute time frame .

Do not forget to put Stop loss for your positions (For every position you want to open).

Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post.

Please do not forget the ’ like‘ button & Share it with your friends; thanks, and Trade safe.

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The post BONK is Ready to Pump again🚀 for BYBIT:BONKUSDT by pejman_zwin appeared first on WorldNewsEra.


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