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<p><strong>Bonk (BONK)</strong>, the first dog-themed meme coin on the Solana Blockchain, took a pause and comfortably sustained gains above the 20-day EMA mark.&nbsp;</p>
<p>It made a <strong>double bottom pattern</strong> around its pivot of $0.00001800 and directed a notable recovery of over 55% this month. Fueled by the demand surge in most memecoins, <strong>BONK </strong>resisted the selloff and retained the bullish momentum.</p>
<p>Additionally, a rounding bottom pattern was in the making at press time. This meme coin’s price seemed poised to revisit the blue sky zone around $0.00004200. Once the BONK price climbs beyond the $0.00003200 mark, a sustained bullish wave might breach its all-time high (ATH) mark.</p>
<h2 class="wp-block-heading" id="h-bonk-meme-coin-price-at-press-time"><strong>Bonk Meme Coin Price at Press Time</strong></h2>
<p>Following the shift in sentiment across the crypto market in the last week, the memecoin managed to recover. It articulated a fresh <strong>recovery </strong>accompanied by a volume surge.</p>
<p>A fresh <strong>higher high </strong>swing was spotted, and the BONK price decisively halted the pullback and took a soft breather at press time.</p>
<p>It displayed a slight profit booking and paused after a notable pullback of over 25%. Meanwhile, the price action was still positive, and the bullish leg was imminent.</p>
<p>Until the prompt support zone of $0.00002500 breaches, the trend would remain bullish, and buyers would continue to dominate the battle.</p>
<h2 class="wp-block-heading" id="h-how-is-bonk-bonk-performing-right-now"><strong>How Is Bonk (BONK) Performing Right Now?</strong></h2>
<p>When writing, the <a href="https://www.thecoinrepublic.com/2024/07/20/bonk-surged-over-15-will-it-cross-its-ath-mark-of-0-00004640/" rel="noopener noreferrer nofollow"><strong>BONK </strong>was trading </a>at $0.00002846 with an intraday drop of 6.206%, reflecting profit booking in the last few hours. Its trading volume declined over 25% in the intraday session.</p>
<p>The pair of BONK/BTC was at 0.000000000428 BTC, and the market cap was $1.18 Million. Analysts are neutral and suggest that the <strong>BONK price</strong> may soon revisit its upper region of $0.00004200.</p>
<h2 class="wp-block-heading" id="h-bonk-price-action-and-indicators-standpoint-nbsp"><strong>BONK Price Action and Indicators Standpoint&nbsp;</strong></h2>
<p>In the past three months, <strong>BONK </strong>has retested its upper neckline zone of $0.00004200 twice and retraced only by 30% from its peak. Its short-term trend was positive, and buyers maintained their strength.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24BONK&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BONK</a> stairway to heaven <a href="https://t.co/0ZghSRwrnh" rel="noopener noreferrer nofollow">pic.twitter.com/0ZghSRwrnh</a></p>— CSK (@Trader_CSK) <a href="https://twitter.com/Trader_CSK/status/1815488327476228547?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 22, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p><strong>Source: X</strong></p>
<p>If the memecoin continues to trade under the bullish influence, further upward action could continue, and it may revisit its ATH mark soon.</p> <iframe title="Santiment Chart: Price (BONK), Volume (BONK)" width="800" height="425" src="https://embed.santiment.net/chart?ps=bonk1&amp;pt=BONK&amp;df=2024-01-26T00%3A00%3A00.000Z&amp;dt=2024-07-23T18%3A29%3A59.010Z&amp;emcg=1&amp;emhwm=1&amp;wm=price_usd%3Bvolume_usd&amp;wax=0%3B1&amp;wc=%2326C953%3B%23D2D6E7&amp;ws=%7B%22interval%22%3A%221d%22%2C%22node%22%3A%22candle%22%7D%3B" scrolling="no"></iframe>
<p>Meanwhile, the downside was capped at $0.00002000 as buyers tightened their grip and were eyeing the upper trajectory to reach out shortly.&nbsp;</p>
<p>The RSI curve stayed in the overbought zone and had a reading of 55, conveying a sustained buying pressure on the chart.</p>
<p>Amidst the significant recovery that happened in the crypto market, BONK was the front runner along with its peers and revealed massive demand for it.</p>
<h2 class="wp-block-heading" id="h-social-insights-displayed-flat-moves"><strong>Social Insights Displayed Flat Moves</strong></h2>
<p>On the social front, BONK meme coin’s social dominance data remained flat around the zero line. It directed nominal investors’ chatter on the media platforms, implying a neutral outlook.</p> <iframe title="Santiment Chart: Social Dominance (BONK), Weighted sentiment (Total) (BONK)" width="800" height="425" src="https://embed.santiment.net/chart?ps=bonk1&amp;pt=BONK&amp;df=2024-01-26T00%3A00%3A00.000Z&amp;dt=2024-07-23T18%3A29%3A59.010Z&amp;emcg=1&amp;emhwm=1&amp;wm=social_dominance_total%3Bsentiment_volume_consumed_total&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe>
<p>Its weighted sentiment data showed flat movements and noted an increase of over 7% in the last 24 hours, reflecting a neutral stance.</p>
<h2 class="wp-block-heading" id="h-total-liquidations-chart"><strong>Total Liquidations Chart</strong></h2>
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdUxdf2_K2IBOiPZgZxUX3OcSzCeNC1ycdiUGtgZQAnQmMHeK1jB7J2eyGBbUFVyHR9GJOsZFwEOh60wsuwScGmmQPXdmgeL3AW4WKczFyz_oQ757E6raJePnZzHun4RS7rlm4n9UnVIXKvRUGVN_aBz5f3?key=e0ZBHp3vhEelOIDnJ4VdJQ" alt="BONK">
 <figcaption class="wp-element-caption">
  Liquidity Chart&nbsp; &nbsp; Source: Coinglass
 </figcaption>
</figure>
<p>Amidst the price decline of over 6%, a shift in the liquidations was observed. The short liquidations dropped to $13k, whereas the long liquidations were noted at $117.20k.</p>
<p>It means the Bears tried to retain dominance and looked forward to a significant push.</p>
<p>The immediate support levels for the <strong>BONK price </strong>at the time of writing were $0.00002600 and $0.00002430. The key upside hurdles were around $0.00003000 and $0.00003300.</p>
<h3 class="wp-block-heading" id="h-all-in-all"><strong>All In All</strong></h3>
<p>The <strong>BONK token price </strong>comfortably held gains above the significant moving averages and was poised for an up move ahead. Once it makes a higher low around $0.00002500, another bullish leg toward the $0.00003000 can be anticipated for a short term.</p>
<p>The post <a href="https://www.thecoinrepublic.com/2024/07/23/bonk-has-taken-a-breather-can-bulls-continue-to-dominate-ahead/" rel="noopener noreferrer nofollow">BONK Has Taken A Breather: Can Bulls Continue To Dominate Ahead?</a> appeared first on <a href="https://www.thecoinrepublic.com" rel="noopener noreferrer nofollow">The Coin Republic</a>.</p>

BONK Has Taken A Breather: Can Bulls Continue To Dominate Ahead?

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