BONK Price Under Pressure as Bears Eye a Potential 40% Drop
Bonk (BONK) may face a 40% price correction after a recent 50% rally as market indicators suggest exhaustion.
Declining futures interest and overbought signals raise concerns about a potential downturn in BONK’s momentum.
Profit-taking could push BONK to retest resistance at $0.000022, with possible support at $0.000015 if selling pressure builds.
Popular meme coin BONK has been on a tear recently, with prices skyrocketing by nearly 50% over the past week. While this has put many holders in gains, the market has become overheated, with some indicators suggesting an imminent price correction.
If buyer exhaustion sets in, the meme coin may be due for a 40% price decline. This analysis delves into why.