After a 12 months of explosive value development, the Solana based meme coin, BONK, has worn out all of its 2024 good points, retracing roughly 76% from its peak. Regardless of this dramatic decline, a crypto analyst has urged that this dip could possibly be a strategic shopping for alternative for traders fairly 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 modifications brought on by the latest Bitcoin price decline. Following United States (US) President Donald Trump’s trade war, meme cash like BONK, Dogecoin, Shiba Inu, and others crashed severely.
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A latest chart evaluation by a TradingView knowledgeable recognized as ‘Cusdridge19523’ sheds light on the extent of Bonk’s severe decline. In accordance with the analyst, Bonk has round-tripped just about all of its good points from 2024, dropping over 76% from its most up-to-date market peak.
This large value crash marks the fourth main correction within the meme coin’s historical past. In 2024, Bonk skilled three significant price pullbacks that noticed its value drop by greater than 60%. At first 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% value drop and declined once more by 65.05% across the third quarter.
Its latest 76.08% in 2025 marks its highest crash in comparison with earlier corrections in 2024. CoinMarketCap additionally experiences that Bonks’ complete good points for 2025 are about 78.82%. The meme coin skilled a gradual value drop to its present low, plummeting by 48.02% in a single month and one other 28.46% prior to now week.
At present, the BONK price is still in the red zone, having fallen by 1.28% within the final 24 hours. Its present value is $0.000018, aligning with previous assist ranges and consolidation areas that triggered robust 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 price rebound.
Why Now May Be A Good Time To Purchase
As BONK reaches consolidation lows just like previous traits, the TradingView analyst believes its present value stage presents a horny buying opportunity for traders trying to reap the benefits of market dips. Traditionally, Bonk has proven a transparent sample of robust value reversals after sharp market corrections, giving traders extra motive to imagine that the token may as soon as once more ship robust returns from market lows.
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Moreover, the TradingView knowledgeable revealed that the broader crypto market outlook for 2025 is bullish, with hypothesis rising round Solana-based Trade Traded Funds (ETFs). The introduction of a Solana ETF may additionally drive institutional curiosity, not directly benefiting meme cash like BONK. The analyst has additionally highlighted the potential of a BONK ETF, including to the bullish fireplace and doubtlessly driving demand.
Featured picture from LinkedIn, chart from Tradingview.com