$BONK / USDT: Bullish trading plan, x10-x20 potential
What is
BONK
?
BONK is a Solana-based meme coin that aims to serve as the “community coin of Solana,” according to its whitepaper.
Facts
- BONK is available on Binance and all major DEXs, such as Binance and Coinbase, for example. It holds the top position among coins on Solana and is managed by an anonymous team.
- Market Capitalization: $1,582.10M
- Circulating Supply: 63,823,117,391,692 BONK
- Maximum Supply: 93,082,000,358,974 BONK
- BONK boasts over 700,000 holders, with one whale owning 10% of the tokens.
These numbers suggest that BONK is undervalued compared to FLOKI ,
SHIB
, or $PEPE. It is listed on all major exchanges, including Coinbase (where
PEPE
is not).
Analysis
Despite its unattractive design and limited popularity as a meme on Twitter, I remain bullish on BONK for several reasons:
1- BONK experienced an explosive rise to $0.000095 before undergoing a correction.
2- The price has now touched the 0.5 Fibonacci retracement line and entered the golden channel
3- Fibonacci retracement zone, indicating the end of the correction.
4- Fibonacci extension suggests a surge to the following target prices:
Conclusion
Barring a black swan event (with rug pulling being the main risk in the meme coin space), this coin should perform well throughout this bull market, potentially offering a x10-x20 return on investment.
This is not an investment advice, DYOR. Also zoom in to see the details of the Fibonacci.
Post your profits in the comments!
BONK is a Solana-based meme coin that aims to serve as the “community coin of Solana,” according to its whitepaper.
Facts
- BONK is available on Binance and all major DEXs, such as Binance and Coinbase, for example. It holds the top position among coins on Solana and is managed by an anonymous team.
- Market Capitalization: $1,582.10M
- Circulating Supply: 63,823,117,391,692 BONK
- Maximum Supply: 93,082,000,358,974 BONK
- BONK boasts over 700,000 holders, with one whale owning 10% of the tokens.
These numbers suggest that BONK is undervalued compared to FLOKI ,
SHIB
, or $PEPE. It is listed on all major exchanges, including Coinbase (where
PEPE
is not). Analysis
Despite its unattractive design and limited popularity as a meme on Twitter, I remain bullish on BONK for several reasons:
1- BONK experienced an explosive rise to $0.000095 before undergoing a correction.
2- The price has now touched the 0.5 Fibonacci retracement line and entered the golden channel
3- Fibonacci retracement zone, indicating the end of the correction.
4- Fibonacci extension suggests a surge to the following target prices:
- TP1: $0.00002940
- TP2: $0.00003030
- TP3: $0.00003190
Conclusion
Barring a black swan event (with rug pulling being the main risk in the meme coin space), this coin should perform well throughout this bull market, potentially offering a x10-x20 return on investment.
This is not an investment advice, DYOR. Also zoom in to see the details of the Fibonacci.
Post your profits in the comments!
Comment:
BTC
got Bearish monday,so everything else followed. However the plan has not changed, the trade is active.
BTC
got Bearish monday,so everything else followed. However the plan has not changed, the trade is active.
Comment:
BONK
is still in his descending pattern, not helped by $BTC. It is under-performing other meme coins, but it is supported by the 0.5 Fib which is good. The trade is still active. TP 1 will come, be patient.
Comment:
BONK
has failed, so I decided to close this thread (plus the graphic sucks). I will do a better idea with a cleaner graph soon.
Comment:
Trade closed with slight disappointing profit.
Comment:
Dong, and here
BONK
wakes up and pump haha. Damned meme coin who are doing only what they want!
Trade re-opened.
Trade re-opened.