Some traders are buying the Solana Saga phone to claim a 30 million BONKUSD airdrop, currently worth a little more than the phone.
Preface: Short term cap gains on BONK claim, for a phone you presumably doxxed to buy, is between 10% & 37%. Averaged to 20%, means you'll owe $100 on $500 of CRYPTOCAP:BONK, $160 at $800.
Current Trend: BONK is averaging a 40% correction after each impulsive move. Its potentially topping as we speak & another 40% correction would align well with fib retracement levels.
Corrective moves ~5-7 day duration. If your phone arrives in 3 days, price is potentially already trending down.
Forecast:
At a 20% drop from current levels, at 0.000023 BONKUSD, you cash out for $690. Cap gains are $138, you net $552.
Worst case lets say you sell the bottom of that local correction after a 40% drop - thats 0.000018 BONKUSD which comes out to $540, with $108 cap gains, net $432. Still not terrible, could be better.
The bigger risk is whether this is a local top, or a larger selloff. If the correction extends beyond the 50% fib retracement, you might be hurting.
With the BONK devs reportedly selling today, a larger selloff on the horizon isn't out of the question.
Long term perhaps BONK is a bull market contender and long term HODL, but this is a bit farther out on the risk scale than many other options.
Larger Correction: if we log a larger selloff, a good speculative target is between 0.0000013385 and 0.0000023808 BONKUSD, a ~90% drop in value from current price - reasonable after a parabolic move to the upside.
Remember how many
PEPE
bagholders bought the top during bear, and the memetics behind PEPE are arguably much stronger than whatever a BONK is.. (I own neither).
Preface: Short term cap gains on BONK claim, for a phone you presumably doxxed to buy, is between 10% & 37%. Averaged to 20%, means you'll owe $100 on $500 of CRYPTOCAP:BONK, $160 at $800.
Current Trend: BONK is averaging a 40% correction after each impulsive move. Its potentially topping as we speak & another 40% correction would align well with fib retracement levels.
Corrective moves ~5-7 day duration. If your phone arrives in 3 days, price is potentially already trending down.
Forecast:
At a 20% drop from current levels, at 0.000023 BONKUSD, you cash out for $690. Cap gains are $138, you net $552.
Worst case lets say you sell the bottom of that local correction after a 40% drop - thats 0.000018 BONKUSD which comes out to $540, with $108 cap gains, net $432. Still not terrible, could be better.
The bigger risk is whether this is a local top, or a larger selloff. If the correction extends beyond the 50% fib retracement, you might be hurting.
With the BONK devs reportedly selling today, a larger selloff on the horizon isn't out of the question.
Long term perhaps BONK is a bull market contender and long term HODL, but this is a bit farther out on the risk scale than many other options.
Larger Correction: if we log a larger selloff, a good speculative target is between 0.0000013385 and 0.0000023808 BONKUSD, a ~90% drop in value from current price - reasonable after a parabolic move to the upside.
Remember how many
PEPE
bagholders bought the top during bear, and the memetics behind PEPE are arguably much stronger than whatever a BONK is.. (I own neither).