“BONK is one step away from a rally”

According to an analysis, bullish formations on the $BONK price chart indicate a 250 percent rally.

According to on-chain data, $45.73 million worth of BONK has recently been withdrawn from central exchanges. This situation has been interpreted as preparation for a potential rise.

The popular memecoin BONK on the Solana blockchain is gaining strength with increasing demand and whale interest. According to an analysis prepared by AMBCrypto, a bullish pattern has formed on BONK's daily chart.

The analysis suggested that the pattern in question indicates a 40 percent increase in the short term and a potential 250 percent increase.

Solana-based memecoin #BONK has begun to recover from the effects of the sharp price drop on December 10. BONK, which has also attracted the attention of investors, is preparing for a potential breakout.

According to Coinglass data, the interest of whales and long-term BONK holders has begun to increase day by day. This situation led to a significant outflow of BONK from exchanges. According to AMBCrypto, BONK has been withdrawn from exchanges since the beginning of December 2024.

The analysis emphasized that the popular memecoin could reach $ 0.0000545 in the short term, and if this region is exceeded, the next target will be $ 0.000137. The rising triangle formation formed on the BONK chart increased expectations.

The analysis included the following statements; “Looking at the recent price movement, it seems possible that BONK could reach $ 0.0000545 in a short time. It could increase by 40 percent.”

AMBCrypto suggested that if the upward momentum and sentiment in the memecoin continues, a long-term rally could begin.

According to CoinGecko data, BONK is trading at $ 0.0000376. The popular altcoin has a market value of $ 2.844 billion.