BONK Flashes Buy Signal After 40% Price Crash

Solana-based meme coin BONK has shown a potential buy signal after a 40% price drop in the last week. The TD Sequential indicator indicates a possible trend reversal, suggesting a rebound opportunity for investors.

New Buy Signal Sparks Rebound Hopes For BONK

The TD Sequential indicator flashed a ‘9’ buy signal on the daily chart.
BONK experienced a 40% price decline over the past week.
Year-to-date, BONK is up 60.4%, despite recent bearish trends.
Analysts suggest that the ‘9’ signal may indicate an upcoming price reversal.

Martinez's analysis shows bearish candles preceding the buy signal, hinting at a build-up of bullish momentum. A buy signal often represents a favorable entry point for investors during price dips.

BONK Slashes Supply By 2 Trillion

Over 2 trillion BONK tokens have been permanently removed from circulation.
The burn aims to increase scarcity and was announced by the marketing team.
Community members noted it would have been more effective if timed with a market upswing.
Despite the token burn, BONK continues to trade sideways with high volatility.

While the supply reduction has not yet impacted price dynamics, analysts maintain optimism about BONK's future performance.