- Whales bought 80B BONK, cutting exchange balances and signaling bullish confidence.
- A 1T token burn at 1M holders could tighten supply and fuel higher prices.
- Technicals point to $0.00002757 as the next stop, with $0.000032 in sight if momentum holds.
Bonk, the Solana-based meme coin that’s been on every trader’s radar, looks like it might be shaking off its latest stumble. After tumbling to a two-week low of $0.00001980, the token is now hovering near a key support zone. Some market watchers believe this could be the setup for a rebound, with eyes locked on the $0.000032 level as the next big target.
Whale Accumulation Hints at Upside
One of the strongest bullish signals right now is the way whales are scooping up BONK. According to Nansen data, big wallets snapped up about 80 billion tokens, pushing their combined stash to 2.61 trillion. That buying spree drained exchange balances in just a day—from 24.7 trillion BONK down to 23.98 trillion.
This kind of accumulation during a dip often shows confidence. Basically, when investors yank tokens off exchanges and move them into cold storage, it signals they’re betting on a rebound rather than preparing to sell. We’ve seen this script before with Shiba Inu and other meme coins, where accumulation phases and token burns set the stage for explosive rallies.
Token Burn: Fuel for a Rally?
Bonk also has a major milestone ahead—burning 1 trillion tokens once the community reaches 1 million holders. A burn of that size tightens supply, which in theory should lift price if demand keeps building. The timing is key though. If growth in new holders slows down, the burn effect could take longer to kick in. Still, the plan mirrors successful supply cuts that boosted other meme coins in 2021.
Technical Picture: Targeting $0.000032
From a technical angle, BONK recently broke out of a triangle pattern and is sitting just above daily support near $0.000020. A double-bottom formation around $0.00001950 adds further weight to the bullish case. Analysts say if momentum holds, the first checkpoint will be $0.00002757 before any push to the $0.000032 mark.
Charts suggest the recent crash may have been more of a shakeout than the start of a bigger downtrend. With whales buying in and a token burn on the horizon, BONK’s setup looks more constructive than chaotic—at least for now.
Sentiment and Final Thoughts
Investor mood is cautiously upbeat. Social chatter is buzzing again, whales are making moves, and the burn narrative is giving traders something to latch onto. BONK is still volatile—no surprise for a meme coin—but its support near $0.000020 could act as a springboard.
At press time, BONK was trading around $0.00002058, down just over 8% on the day. Short-term momentum favors a bounce, but as always, traders should keep risk management front and center.
