BONK Price May Shed More of Its Monthly Gains Due to These Indicators
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Bonk (BONK), based on Solana, is among this month’s top gainers but could lose value soon. Currently trading at $0.000028, an on-chain analysis suggests upcoming declines.
Key to this bearish outlook is the liquidation heatmap, predicting large liquidations and high volatility at certain price points.
Bonk’s social dominance has dropped significantly, indicating reduced market hype and decreasing likelihood of price recovery.
Technical analysis shows a bearish flag pattern; if this continues, a drop to $0.000026 could be expected. However, increased liquidity could reverse this trend.
Source: beincrypto.com ↗
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