BONK Price Prediction: Purchase volume surges to 1.61 trillion Tokens, astonishing recovery expected to reach $0.00002?

Bonk (BONK) has shown a strong Rebound, rising 21.22% after hitting a recent bottom of 0.000013 USD, and climbing to a local high of 0.0000168 USD at the time of writing. With the price increase, the volume of BONK has also experienced a big pump of 332%, surging to 548 million USD — this clearly indicates that market demand is rising strongly.

BONK buying demand is rising

After experiencing a period of market decline, purchasing power has officially returned, marking the formation of a new wave of demand. According to data from Coinalyze, on July 3 alone, the purchasing volume of BONK surged to 1.61 trillion tokens, surpassing the sales volume of 1.44 trillion tokens during the same period.

This positive trend is no coincidence. The day before, the buying volume also reached 1.21 trillion tokens, helping BONK set an astonishing trading difference of 167.31 billion tokens - this clearly indicates strong spot demand.

It is worth noting that this rebound occurred after BONK faced selling pressure for four consecutive days, as investors continually sold stocks exceeding their accumulated levels.

Recent developments indicate that large-scale buying activity is returning, with new funds from investors flowing into the market, bringing expectations for a strong rebound in the future.

Strong Trend of Derivative Products

The derivatives market data shows that new funds are actively flowing into BONK. According to CoinGlass statistics, the open interest (OI, the total value of outstanding derivatives contracts) has risen significantly by 45.93%, reaching $17.38 million. At the same time, the volume has surged by 271.1%, reaching $97.59 million.

The increase in open interest and volume clearly indicates that the futures market is attracting more participants, especially new investors.

In addition, the long-short ratio of BONK has risen to 1.057, reflecting an increasing confidence in the bullish trend. A ratio above 1 is typically seen as an indicator of buying power dominating the market.

What does the momentum indicator explain?

As the speculative wave returns to the market, BONK has just recorded an impressive Rebound. Against the backdrop of the overall cryptocurrency market gradually recovering, the fear of missing out (FOMO) mentality has prompted investors to quickly take advantage of this opportunity to establish strategic positions.

The heat of the rebound is clearly reflected in the MACD indicator, which has surged to -0.00000023 at the time of writing, indicating that buying momentum is strengthening significantly.

At the same time, the relative strength index (RSI) of BONK has also reached 60, close to the bullish zone. This RSI level indicates that buyers are clearly in control of the market.

If buying pressure continues to be maintained in the near future, BONK has the full capability to recover to the level of 0.000018 dollars, and even extend the upward momentum to the level of 0.000020 dollars.

However, in the opposite scenario - when bullish momentum fades and profit-taking pressure increases - BONK may retreat to test the support area around $0.000015.

(Source: Trading View)