After a 12 months of explosive value development, the Solana based meme coin, BONK, has worn out all of its 2024 positive aspects, retracing roughly 76% from its peak. Despite this dramatic decline, a crypto analyst has steered that this dip might be a strategic shopping for alternative for buyers slightly than a trigger for concern.
Solana‘s BONK Retraces 2024 Gains
The broader meme coin market has been experiencing a extreme downturn, pushed by the volatility and market modifications brought on by the current 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 current chart evaluation by a TradingView professional recognized as ‘Cusdridge19523’ sheds light on the extent of Bonk’s severe decline. According to the analyst, Bonk has round-tripped just about all of its positive aspects 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 the start of the earlier 12 months, the meme coin fell 72.77% after reaching a neighborhood peak. Similarly, 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 current 76.08% in 2025 marks its highest crash in comparison with earlier corrections in 2024. CoinMarketCap additionally reviews that Bonks’ whole positive aspects 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% previously week.
Currently, 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 Might Be A Good Time To Buy
As BONK reaches consolidation lows much like previous developments, the TradingView analyst believes its present value stage presents a beautiful buying opportunity for buyers seeking to make the most of market dips. Historically, Bonk has proven a transparent sample of robust value reversals after sharp market corrections, giving buyers extra cause to consider that the token may as soon as once more ship robust returns from market lows.
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Additionally, the TradingView professional revealed that the broader crypto market outlook for 2025 is bullish, with hypothesis rising round Solana-based Exchange 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 opportunity of a BONK ETF, including to the bullish fireplace and doubtlessly driving demand.
Featured picture from LinkedIn, chart from Tradingview.com
