Oh No! BONK Holders Are in a Right Royal Mess! 🐻💔

Oh dear! BONK short-term holders are feeling the pinch, thanks to a downtrend that just won’t quit!
And guess what? A recovery is playing hide and seek, while the memes are supposed to lead the charge!

Well, well, well! The memecoin market has been as cheerful as a rainy day in the middle of a picnic, and Bonk [BONK] is sliding down the slippery slope like a banana peel on a kitchen floor.

According to the crypto wizards at Artemis, the memecoin sector has been performing worse than a cat in a dog show over the past month. Just look at this!

Oh, the horror! The memes have taken a nosedive of 41% in their fully diluted market capitalization. The average performance? A delightful -30.2%! And Bitcoin [BTC]? A mere -19.2%. What a party! 🎉

But wait, there’s more! The meme sector is down a whopping -41.5%. So, it’s not just BONK that’s feeling blue — the whole memecoin gang is in a right pickle!

Price Expectations for BONK — Bears Still in Charge! 🐻

Bonk has been caught in a whirlwind of despair lately. After a brief moment of glory in November, the bulls have vanished faster than a magician’s rabbit! Now, BONK has plummeted below the November lows, and it’s not looking pretty.

As of now, BONK is down another 23% and has taken a little trip to retest the April 2024 support. Will it dip lower? Who knows! Traders and investors better brace themselves for more of this rollercoaster ride.

Highlighted in a rather fancy white box is a fair value gap that stretches to $0.0000155. So, there’s a chance we might see a cheeky 15% bounce in the coming days before the downtrend decides to throw another tantrum.

The short-term holder net unrealized profit/loss (STH NUPL) is showing that short-term holders are in a pickle of epic proportions. The NUPL value is at a dismal -1.22 and has plummeted to -1.35 on the 24th of February. Yikes!

The last time the NUPL was this low, it was back in April 2023. Sure, a price bounce happened then, but let’s not jump to conclusions, shall we?

In fact, the low NUPL doesn’t guarantee the end of this gloomy downtrend. Oh, the irony!

Now, let’s not forget about Dogecoin [DOGE], which rallied from $0.056 to $0.092 in December 2023. This was just after BONK had a jaw-dropping rally of over 100x. Can you believe it?

So, there’s a glimmer of hope that a DOGE rally, along with the rest of the memecoin market, could bring BONK back from the brink. But until then, traders should keep their eyes peeled for those pesky bears! 🐻

2025-03-02 11:06

Short-term BONK holders at record losses! Is there more pain ahead?

Oh No! BONK Holders Are in a Right Royal Mess! 🐻💔

Price Expectations for BONK — Bears Still in Charge! 🐻

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