Bonk, the second largest Solana Meme coin after Trump, may be at risk of a significant decrease as whales and investors reduce smart money from their sites.
Bonk (Bonk) was traded at $ 0.00002053 on Wednesday, a 20 % decrease from the highest monthly level.
Data from Nansen and Santiment shows that both investors of money and whales have reduced their Bonk holdings, a possible signal that they expect a reflection of price.
Bonk holders between one million and 10 million coins have unloaded 500 million symbols since December. Likewise, the portfolio, which includes between 10 million and 100 million coins, now carries 1.44 trillion symbols, while those that ranged between 100 million and 1 trillion coins reduced their holdings to 1.44 trillion.
According to Nansen, what Hall Holdings has decreased by 15 % over the past thirty days, while the symbols that investors keep smart money from 33.4 billion in April to 15.6 billion at the present time.
Nansen identifies smart money investors as users with a fixed history in determining the upscale and duplicate trends early, and they usually buy before the distinctive symbol contradicts and sold them near local peaks.
Additional data shows that Bonk exchange balances have risen to 19.6 trillion symbol, up from the lowest level of this month of 19.4 trillion. The increased drainage balances are often seen as declining, as they usually indicate an increase in the sale of the investors.
Technical analysis of the Bonk price
The four -hour graph shows that Bonk reached its climax at 0.00002577 dollars this month before forming a double pattern. Then the distinctive symbol decreased to a decrease of $ 0.00001815, which coincided with the rising trend line that connects the lowest fluctuations since April 7.
Bonk has since formed a declining sponsorship pattern, consisting of a sharp, severe step, followed by a similar triangle. The two lines are approaching this pattern of convergence, which may lead to a declining collapse.
The initial goal of this step is 0.00001815 dollars, which is the lowest swing this month. Less lower break from this level is likely to indicate the negative side, and perhaps towards the level of Fibonacci tradition by 50 % at $ 0.00001730.
