After a 12 months of explosive worth progress, the Solana based meme coin, BONK, has worn out all of its 2024 positive aspects, retracing roughly 76% from its peak. Regardless of this dramatic decline, a crypto analyst has advised that this dip might be a strategic shopping for alternative for traders quite than a trigger for concern.
Solana‘s BONK Retraces 2024 Features
The broader meme coin market has been experiencing a extreme downturn, pushed by the volatility and market adjustments 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. In accordance with 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 worth crash marks the fourth main correction within the meme coin’s historical past. In 2024, Bonk skilled three significant price pullbacks that noticed its worth drop by greater than 60%. Firstly of the earlier 12 months, the meme coin fell 72.77% after reaching a neighborhood peak. Equally, in the course of the second quarter of 2024, BONK skilled a 74.2% worth 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 stories that Bonks’ whole positive aspects for 2025 are about 78.82%. The meme coin skilled a gradual worth drop to its present low, plummeting by 48.02% in a single month and one other 28.46% up 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 worth is $0.000018, aligning with previous help 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 tendencies, the TradingView analyst believes its present worth degree presents a gorgeous buying opportunity for traders seeking to benefit from market dips. Traditionally, Bonk has proven a transparent sample of robust worth reversals after sharp market corrections, giving traders extra cause to imagine that the token might as soon as once more ship robust returns from market lows.
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Moreover, the TradingView professional revealed that the broader crypto market outlook for 2025 is bullish, with hypothesis rising round Solana-based Change Traded Funds (ETFs). The introduction of a Solana ETF might 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
