After over 90 days of accumulation,
$BONK might be gearing up for the biggest breakout since the start of the year!!! 🤑🤑
$BONK — The Solana meme is prepping for a major sprint?
#BONK is currently one of the most notable meme tokens in the #Solana ecosystem right now.
The first notable point is that the price structure has been sideways for over 90 days after a strong previous downtrend. This is typically when the market absorbs all the selling pressure before forming a new trend.
📌 In this sideways zone:
Trading volume remains stable
The daily range is tightening
Multiple liquidity sweeps but no new lows
=> This indicates that the selling pressure is gradually being fully absorbed.
Additionally, the derivatives data is showing a rather interesting signal:
• Funding remains relatively balanced
• CVD continues to decline, but prices are no longer dropping sharply
→ Signs of absorption of selling pressure by market makers or large money flows are emerging.
Notably, the 24h liquidation map from Coinglass shows that there are many short liquidity clusters above the current price level.
This means:
👉 If the price breaks out of the current sideways zone, there's a high chance of a strong short squeeze effect, leading to rapid upward volatility in a short time.
🎯 Personally, I expect:
BONK will soon break out of the current accumulation zone
There is a possibility of a strong surge in the coming days if Bitcoin and the Solana ecosystem maintain a stable trend.
⚠️ However, this is still a meme token:
Extreme volatility
Easily manipulated
Capital management should always be the top priority.
Not investment advice.
#Crypto #Memecoin #1000BONK #BONK #SOL