Quick summary
BONK flushed below two base levels in June, triggering a −43% entry near the capitulation wick low. The first target is a +26% reclaim of the lower base, with a full resolve to 0.00000650 EUR still the expectation if structure holds.
What is BONK?
BONK is a Solana-based memecoin and one of the most liquid in its category, with consistent volume on Kraken. No utility thesis pure structure and liquidity. BONK carries a $400M market cap with $33M in 24hour volume, liquid enough to move in and out of cleanly.
Trade Setup
Base 1: ~0.00000500 EUR (lower base, formed March)
Base 2: ~0.00000650 EUR (upper base, formed December)
Current price: 0.00000400 EUR, below both bases
Position: entered at −43% below the upper base after the June capitulation wick
Levels
Entry: −43% below upper base → ~0.00000370 EUR
Exit 1: +26% from entry → ~0.00000500 EUR (lower base reclaim)
Exit 2: +76% from entry → ~0.00000650 EUR (full resolve, upper base reclaim)
Panic: close and hold below 0.00000350 EUR with no reclaim
Zoomed out: price is below two bases after a sharp June flush. BONK has been slow to recover — the conservative target is the lower base reclaim at +26%, with the full resolve back to 0.00000650 EUR the longer-term expectation if structure holds.
Disclaimer
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Written by
Andrew Kamsky
Andrew Kamsky is a Bitcoin analyst. He spent a decade in traditional finance across a Big Four firm and a listed fintech bank before going deep on Bitcoin full-time.
