The BONK token has recently plunged by 42% in 30 days, causing concern among investors. Despite this, a technical rebound seen today at a historic support level could signal a significant turnaround. With conflicting signals of selling pressure easing and strong fundamentals, the Solana meme coin warrants a thorough analysis.
The meme coin market is experiencing a particularly volatile period. BONK has not escaped the widespread downward trend that has plunged the entire sector by 37% following the announcement of 100% tariffs imposed by the Trump administration on Chinese imports. This political decision has sent shockwaves through the crypto markets, particularly affecting assets with strong speculative components.
Analysis of the daily chart reveals that BONK has reached the psychological threshold of $0.00001150. This level previously served as a springboard during the last cycle. At that time, the token exploded by 231% in less than 30 days after touching this price zone. While history never guarantees an exact repetition of past movements, technical traders are carefully monitoring this support to identify potential accumulation signals.
The gradual reduction in selling volume constitutes an interesting indicator. When bearish pressure exhausts itself at a major support level, even a small influx of buyers can trigger a violent squeeze of short positions. A rebound to $0.0000244 would represent a potential gain of 112% from current levels, a target technically consistent with the Fibonacci retracements observed in the price structure.
Despite the market consolidation phase, BONK continues to demonstrate its resilience. The launchpad LetsBonk.fun has now established itself as the third largest launch platform on Solana, with 12% market share and over $2 billion in volume over the past 30 days. Its deflationary burn mechanism, which destroys a portion of tokens through launch fees, enhances programmed scarcity and supports the token’s long-term value.
The BONK community, highly active on social media and crypto forums, maintains high engagement despite the market downturn. This social capital and organic adoption constitute essential assets in the meme coin universe, where collective sentiment strongly influences price dynamics. Long-term holders continue to accumulate the token, supporting the stabilization of the number of active wallets.
From a technical perspective, BONK is testing a key support at $0.00001150. A confirmed rebound accompanied by increasing buying volumes could restart the trend toward resistance at $0.00001650, or even the target of $0.0000244 (+112%). The daily RSI approaching oversold territory strengthens this hypothesis. However, caution remains necessary in the face of tense macroeconomic conditions. As long as Bitcoin and altcoins do not regain stability, BONK’s bullish scenario will depend on a return of global confidence in the crypto market.
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