Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»ALTCOIN NEWS»The possibility of a BONK rally amidst the $84 billion token burn proposal…
ALTCOIN NEWS

The possibility of a BONK rally amidst the $84 billion token burn proposal…

By Crypto FlexsJuly 11, 20242 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
The possibility of a BONK rally amidst the  billion token burn proposal…
Share
Facebook Twitter LinkedIn Pinterest Email
  • BONK showed bullish pressure prevailing in lower time frames.
  • The recent structural breakdown and sustained buying pressure in recent months could allow the rally to continue.

Bonk (BONK) bulls have been on a strong uptrend this week following news of a proposed BONK token burn. While the 84 billion token burn proposal has yet to be approved, the potential supply reduction has excited bulls, sending the coin up 23% from Monday’s open.

The weighted sentiment was positive, but volumes began to decline. Is this a sign that the price pump is over?

The daily structure is turning bullish

BONK 1-day price chart

Source: BONK/USDT on TradingView

The daily price chart shows that the most recent low high was set in mid-June at $0.00000256. On July 9, the daily trading session closed above this level, flipping the structure to the bulls.

The 78.6% retracement level has been a strong support level for the past 6 weeks. Bulls will be looking to defend the $0.0000025 and $0.0000023 levels in the coming days.

The RSI has broken above the neutral 50 level, another early sign of a bullish trend reversal. The OBV has been trending up slowly since March, showing that it is not a matter of if but when another explosive rally will occur.

Gift data showed that sentiment was positive.

BONK Open InterestBONK Open Interest

Source: Coinglass

Open Interest increased from $205 million on July 8 to $283.3 million on July 10. With the OI rising rapidly along with the price increase, speculators were willing to take long positions on Memecoin.

The downtrend began in the last 24 hours, but overall short-term sentiment remains bullish.

BONK Funding RatioBONK Funding Ratio

Source: Coinglass


Is your portfolio green? Check out the BONK profit calculator


The funding ratio has risen back into positive territory after falling on July 5 and most recently on July 9.

However, it was not an unusually positive result, suggesting that the market was not overheated.

Disclaimer: The information presented does not constitute financial, investment, trading or any other type of advice and is solely the opinion of the author.

Next: Binance Launches ‘Crypto Lending’ Feature. Will This Help BNB Reach $600?

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

The XRP market value surpasses Shopify, Verizon, and Citigroup. Whales sell 40m coins.

September 18, 2025

‘Fat Apps’ can lead the cryptographic story in the next few months.

September 11, 2025

Binance explodes 466m LUNC with oblivion: revival play or special effect?

September 4, 2025
Add A Comment

Comments are closed.

Recent Posts

Fitell Corporation Launches Solana (SOL) Digital Asset Treasury With $100M Financing Facility, With Focus On Yield And On-Chain DeFi Innovation

September 24, 2025

Nebeus Overfunds Equity Crowdfunding Campaign With €3.6M Raised, Reflecting Growing Demand For Regulated Crypto–Finance Solutions

September 24, 2025

Next Binance Coin (BNB) Price Rally 3 Catalysts that can supply fuel

September 24, 2025

Ether Leeum World Fair Announcement

September 24, 2025

SOL Leverage Longs Jump Ship, is it $ 200 next?

September 24, 2025

Navigating Policy & Regulation in Blockchain

September 23, 2025

Flipster Debuts Market’s First USD1 Perps For BTC, ETH, SOL, XRP, And DOGE

September 23, 2025

BYDFi Joins Korea Blockchain Week 2025 (KBW2025): Deepening Web3 Engagement

September 23, 2025

MEXC Brings Immersive Experience With ‘0 Fee Lounge’ To Token2049

September 23, 2025

Moonbirds And Azuki IP Coming To Verse8 As AI-Native Game Platform Integrates With Story

September 23, 2025

Buying NFT is like buying a Mickey Mouse T -shirt and an IP.

September 23, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Fitell Corporation Launches Solana (SOL) Digital Asset Treasury With $100M Financing Facility, With Focus On Yield And On-Chain DeFi Innovation

September 24, 2025

Nebeus Overfunds Equity Crowdfunding Campaign With €3.6M Raised, Reflecting Growing Demand For Regulated Crypto–Finance Solutions

September 24, 2025

Next Binance Coin (BNB) Price Rally 3 Catalysts that can supply fuel

September 24, 2025
Most Popular

Immutable (IMX) Integrates zkEVM with Fireblocks to Expand Global Access to Web3 Games

August 17, 2024

5 Alternatives to XRP That Will Go from $300 to $6000 by Early 2025

December 13, 2024

Ethereum burned $2.5 billion worth of ETH after the merger as supply fell to an 18-month low.

December 12, 2023
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.