Bonk (BONK) Price Prediction: Preparing for a Potential Memecoin Supercycle

Bonk [BONK] has risen by over 31% in the past 30 days, despite a minor 2.71% dip in the last 24 hours as per CoinMarketCap.

Despite a minor 2.71% dip in the last 24 hours, Bonk (BONK) has witnessed a surge of over 31% in the past 30 days, as reported by CoinMarketCap.

However, this slight setback is not a cause for concern, as it seems that BONK is preparing for a potential memecoin supercycle.

The token has also experienced a 23% increase in 24-hour trading volume, bringing it to $263 million, indicating growing interest in the token.

This surge is setting the stage for an exciting period ahead.

A closer examination of BONK’s price action reveals a promising outlook.

The token is forming a Volatility Contraction Pattern (VCP), which is accompanied by declining volume.

This type of pattern usually indicates a buildup of energy for an imminent breakout.

Traders who are familiar with this setup will know that it signals a high probability for a strong upward move.

As the price breaks through the current downtrend resistance, it could quickly escalate, aiming for the $0.00004894 level.

If this level is cleared, we can expect to see new all-time highs, potentially by next year.

The initial move toward this target is expected to begin in the final quarter of this year.

This setup presents an excellent opportunity for investors who are planning to hold BONK long-term.

Now, let's take a look at the liquidity delta.

The aggregated order book for BONK shows a depth difference of $263K between buy and sell orders.

This data reflects in green when buy orders exceed sell orders, indicating stronger buying pressure.

While this metric does not directly determine BONK’s price, it does give us a sense of the market sentiment and liquidity.

As you can see, the metric is currently showing positive buy depth, suggesting a favorable environment for potential price gains.

In another significant development, BONK has secured a listing on UPBIT, the largest cryptocurrency exchange in Korea.

This move brings the memecoin to one of the world's largest trading platforms by volume, offering exposure to a broader Asian audience.

The influx of new traders from Korea is expected to boost liquidity, further contributing to BONK’s growing market activity.

As the listing continues to garner attention, traders are advised to position themselves before the market surges, as demand is likely to rise sharply.

BONK's current price action, upcoming developments, and recent price analysis all point to a higher trajectory for the memecoin in the near future.