The Solana-based memecoin BONK is back in the spotlight, with multiple bullish signals suggesting a potential explosive move. After an 8% daily gain, technical and on-chain data point to even bigger upside ahead.
3 Bullish Signals for BONK
1. Exchange Supply Drying Up
- 2.88% drop in exchange-held BONK (589B tokens)
- $16.69M worth moved to private wallets
- Top 100 addresses increased holdings by 6.12%
“When coins leave exchanges, it typically means holders are preparing to HODL,” says Nansen analyst Clara Wu.
2. Golden Cross Forming
- 50-day EMA about to cross above 200-day EMA
- Last seen before BONK’s 300% rally in March
- Price trading above both EMAs confirms strength
3. Fibonacci Targets in Play
- Current price: $0.00002835
- Next target: $0.00003868 (37% upside)
- Key support: $0.00002826 (must hold)
What Could Go Wrong?
⚠️ If price falls below $0.00002182, the rally could fail
⚠️ Exchange inflows would signal impending sell pressure
⚠️ Memecoins often face sharp corrections after rallies
The Bottom Line
With strong holders accumulating, technical signals aligning, and clear upside targets, BONK looks primed for another run. But in the volatile memecoin market, risk management remains key.