BONK Price Forecast: Double-bottom Pattern Hints $0.57 Breakout, but There Is a Catch

BONK price experienced intense volatility as Solana's memecoin ecosystem became a hotbed of speculation this week.

BONK price experienced a partial recovery this week following a seven-day losing streak that saw it decline by 30% after Trump’s inauguration.

After a sluggish start, bulls regained control towards the weekend, pushing up the price from $0.22 to $0.26 over the past three days. This marked a 9% increase, providing traders with an opportunity to re-enter the market.

Solana’s memecoins drew increased attention during this period, with market sentiment playing a role in BONK’s recovery.

Despite broader crypto market uncertainties, optimism remained for the token.

As of Feb 1, traders watched for further developments surrounding altcoin ETFs, which could direct institutional capital towards the Solana ecosystem.

BONK volumes have plunged 80% since TRUMP token launch

Major market events, including Trump’s crypto endorsement, memecoin sector volatility, U.S. Fed policies, tariffs, and the DeepSeek vs OpenAI AI rivalry, dominated headlines.

However, BONK faced difficulties in maintaining traction amid Trump-related market shifts.

TRUMP’s meme token launch on January 20 significantly impacted Solana’s memecoin landscape, triggering volatility and shifting market dynamics.

Within 24 hours of launch, the TRUMP token surged to a $12 billion market cap, overtaking BONK’s dominant position.

While TRUMP has since faced corrections, it still holds a commanding $4.9 billion valuation, dwarfing BONK’s $1.8 billion market cap.

The shift in capital allocation has negatively affected BONK’s market fundamentals, particularly its trading volume.

According to Santiment’s trading volume trends, a significant decline in BONK’s liquidity can be observed following the TRUMP token launch.

On January 19, 1.2 billion BONK tokens were traded. That figure has since plummeted to just 220 million tokens traded on January 31 — an 83% drop.

This decline suggests waning investor interest in BONK and weakening dominance as the TRUMP token encroaches on market share.

A sharp drop in trading volume often signals weaker momentum, making it harder for BONK to sustain significant price gains.

If investor demand remains skewed toward TRUMP, BONK could struggle to break key resistance levels.

Hence, with the $TRUMP token actively encroaching on market share, BONK’s recovery may remain slow, despite a bullish media sentiment surrounding Solana-based memecoins.

BONK Price Forecast: Double-bottom pattern hints $0.57 breakout, but there is a catch

BONK price forecast charts currently depict a classic double-bottom pattern, suggesting a potential bullish reversal with a projected breakout target near 0.00005500.

However, despite this optimistic formation, bearish pressure remains dominant.

The price is currently trading at $0.000024, struggling to reclaim the VWAP at $0.000026, a critical level that could determine the next directional move.

The failure to break above this dynamic resistance keeps the downside risk elevated, with weak bullish momentum failing to sustain gains.

Despite a minor rebound, the recent 9.93% bounce lacks the strong volume required to confirm a sustainable reversal.

The broader trend remains bearish, with a steep 30% decline over the past seven days.

A decisive close above the VWAP could accelerate momentum toward the psychological barrier of 0.00003426.

Conversely, failure to sustain above 0.00002400 may invite further downside, extending losses to 0.00002128 or lower.

1. How high can BONK price go?

BONK price is currently facing bearish pressure after a seven-day losing streak that saw it decline by 30% following Trump’s inauguration. However, bulls regained control towards the weekend, pushing up the price from $0.22 to $0.26 over the past three days. This marks a 9% increase as traders get a chance to re-enter the market.

Solana’s memecoins drew increased attention during this period, with market sentiment playing a role in BONK’s recovery. Despite broader crypto market uncertainties, optimism remained for the token. As of Feb 1, traders watched for further developments surrounding altcoin ETFs, which could direct institutional capital toward the Solana ecosystem.

2. How has the TRUMP token affected BONK’s price movement?

TRUMP’s meme token launch on January 20 significantly impacted Solana’s memecoin landscape, triggering volatility and shifting market dynamics. Within 24 hours of launch, the TRUMP token surged to a $12 billion market cap, overtaking BONK’s dominant position.

While TRUMP