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Common Solana-based meme coin BONK has simply flashed a serious purchase sign following a dramatic 40% worth crash over the previous week. The TD Sequential indicator, a technical instrument for figuring out development exhaustion and worth reversals, means that the meme coin could also be gearing up for a powerful rebound to new highs. This might be a primary entry for traders amid the present market downturn.
New Purchase Sign Sparks Rebound Hopes For BONK
In keeping with a brand new report shared by Ali Martinez, a distinguished crypto analyst on X (previously Twitter), the TD Sequential indicator has flashed a ‘9’ purchase sign on the BONK each day chart. This purchase sign comes after every week of constant downward strain that triggered an over 40% crash within the BONK worth.
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Yr-to-date, BONK has recorded a 60.4% worth acquire, pushed by bullish market situations and the rise in demand for meme cash earlier final yr. Nevertheless, CoinMarketCap’s information reveals that BONK is on a main bearish trajectory, almost wiping out all its features in 2025.
Regardless of the decline, Martinez suggests {that a} sturdy rebound could also be on the horizon for BONK. Usually, a ‘9’ TD sequential evaluation signifies {that a} development could also be reaching its restrict. Within the case of BONK, it indicators a potential worth reversal from bearish traits.
Martinez’s chart reveals a collection of bearish black candles that align with BONK’s current downtrend. The final white candle, which triggered the TD sequential purchase sign, means that bullish momentum could also be build up for the meme coin. For merchants, this will likely point out a possible shopping for alternative if the right elements and market situations align.
To offer extra readability, when a cryptocurrency flashes a purchase sign on its chart, it usually signifies that it may be an excellent time to enter the market. Steep declines, just like the one seen with BONK, are sometimes considered prime shopping for alternatives. These dips provide low costs, permitting traders to amass the asset at a reduction earlier than a possible rebound.
BONK Slashes Provide By 2 Trillion
In different information, BONK has recorded a big milestone, with over 2 trillion tokens completely faraway from circulation. The advertising and marketing workforce behind the meme coin proudly unveiled this monumental achievement on Friday, February 7, highlighting the neighborhood’s efforts in lowering BONK’s provide and inducing shortage.
Whereas the huge token burn stunned many members of the BONK neighborhood, one consumer commented that large-scale burns resembling this is able to have been extra impactful if timed in the course of the bull run, as this might have doubtlessly sparked a stronger worth surge for BONK.
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Total, BONK continues to be buying and selling sideways, experiencing important volatility and worth decline. The two trillion token burn has had no noticeable affect on its worth dynamics. Nevertheless, analysts stay optimistic about its future worth outlook.
Featured picture from The Every day Dot, chart from TradingView
