BONK price shows signs of recovery, holding at a key support level. With ongoing token burning, significant growth is a possibility.
Analysis of BONK's Current Situation
The price of BONK remains above a key support zone around $0.000025, aligning with EMA 50, indicating a possible rebound. The price dipped to $0.00002411, but the EMA 20/50 bullish crossover remains intact, signaling continued upward momentum.
Token Burning as a Growth Factor
The recent burning of 300 billion BONK tokens via the LetsBONK.fun platform creates strong deflationary pressure. The platform allocates 50% of its revenue to buy and burn tokens, helping to reduce supply. A trading volume exceeding $126.85M also supports the burn mechanisms.
Prospects and Possible Risks
If BONK price holds support and reclaims EMA 20 around $0.000028, this could trigger a move toward the $0.000032–$0.000035 range. However, possible risks include a breakdown below $0.000024, which could lead to deeper retracements toward the next structural support at $0.000017.
Given current trends, BONK price could rise to the $0.00004075 level, suggesting a possible 60% gain. Support resilience and token burning mechanisms are key factors contributing to this potential growth.
