Solana-based meme coin Bonk [BONK] bucks the trend and recorded a 27% price decline in the last month, despite the rally in the...
BONK’s futures open interest has plummeted by over 25% in the last month. Price indicators hinted at a decline as well.bucks the trend and recorded a 27% price decline in the last month, despite the rally in the memecoin market during that period,An assessment of BONK’s key technical indicators on a 1-day chart hinted at the possibility of a further decline in the memecoin’s value.
When an asset’s DMI is set up this way, it suggests that its downward price movement is stronger than any potential for an upward correction. These values showed that BONK distribution outpaced its accumulation, thereby putting downward pressure on its price. When its value is negative, it means there is an uptick in selling activity as bear power becomes more significant.
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