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After a 12 months of explosive worth development, the Solana primarily based meme coin, BONK, has worn out all of its 2024 positive factors, retracing roughly 76% from its peak. Regardless of this dramatic decline, a crypto analyst has instructed that this dip may very well be a strategic shopping for alternative for buyers slightly than a trigger for concern.
Solana‘s BONK Retraces 2024 Good points
The broader meme coin market has been experiencing a extreme downturn, pushed by the volatility and market adjustments brought on by the current Bitcoin worth decline. Following United States (US) President Donald Trump’s commerce conflict, meme cash like BONK, Dogecoin, Shiba Inu, and others crashed severely.
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A current chart evaluation by a TradingView skilled recognized as ‘Cusdridge19523’ sheds gentle on the extent of Bonk’s extreme decline. In keeping with the analyst, Bonk has round-tripped nearly all of its positive factors from 2024, dropping over 76% from its most up-to-date market peak.
This huge worth crash marks the fourth main correction within the meme coin’s historical past. In 2024, Bonk skilled three important worth pullbacks that noticed its worth drop by greater than 60%. Originally of the earlier 12 months, the meme coin fell 72.77% after reaching a neighborhood peak. Equally, throughout the second quarter of 2024, BONK skilled a 74.2% worth drop and declined once more by 65.05% across the third quarter.
Its current 76.08% in 2025 marks its highest crash in comparison with earlier corrections in 2024. CoinMarketCap additionally studies that Bonks’ complete positive factors for 2025 are about 78.82%. The meme coin skilled a gradual worth drop to its present low, plummeting by 48.02% in a single month and one other 28.46% prior to now week.
At the moment, the BONK worth remains to be within the purple zone, having fallen by 1.28% within the final 24 hours. Its present worth is $0.000018, aligning with previous help ranges and consolidation areas that triggered sturdy rebounds. The TradingView analyst has additionally revealed that the market could have to attend between 7 and 90 days for BONK to make a spherical journey and expertise a potential worth rebound.
Why Now May Be A Good Time To Purchase
As BONK reaches consolidation lows just like previous tendencies, the TradingView analyst believes its present worth degree presents a beautiful shopping for alternative for buyers trying to benefit from market dips. Traditionally, Bonk has proven a transparent sample of sturdy worth reversals after sharp market corrections, giving buyers extra motive to consider that the token might as soon as once more ship sturdy returns from market lows.
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Moreover, the TradingView skilled revealed that the broader crypto market outlook for 2025 is bullish, with hypothesis rising round Solana-based Alternate Traded Funds (ETFs). The introduction of a Solana ETF might additionally drive institutional curiosity, not directly benefiting meme cash like BONK. The analyst has additionally highlighted the opportunity of a BONK ETF, including to the bullish hearth and doubtlessly driving demand.
Featured picture from LinkedIn, chart from Tradingview.com
