Bonk Price Primed for Rebound as Smart Money Buying Heats Up—Time to Buy the Dip?
Whale wallets are loading up on Bonk—again. The meme coin that turned degens into overnight millionaires in 2024 is flashing early signs of a comeback. But is this another dead cat bounce or the real deal?
Smart money doesn’t panic. It accumulates. On-chain data shows a spike in large BONK purchases from institutional-grade wallets over the past 72 hours. The same players who dumped at the top are now quietly rebuilding positions.
Retail FOMO hasn’t kicked in yet. Trading volumes remain subdued, and social sentiment is still bearish—classic contrarian signals. Remember: the big moves happen when Twitter threads are still arguing about 'fundamentals' in a market that runs on vibes and vaporware.
Will history repeat? The last time whales bought this aggressively, Bonk ripped +300% in three weeks. Of course, past performance guarantees nothing—especially when your 'asset' is a dog-themed crypto with more supply than the Venezuelan bolívar.
One thing’s certain: when the suits start front-running the next meme cycle, it’s time to pay attention. Just maybe keep an exit strategy sharper than your entry.
Smart money investors buy as whales dump
Nansen data shows that smart money investors have taken opposing positions in recent months. Smart money investors have boosted their Bonk holdings to 30.42 billion, up by 317% in the last 30 days. It was the most purchased token by these investors, with $373,000 worth bought.
Whales, on the other hand, hold 2.06 trillion tokens, down from this month’s high of 2.17 trillion.
Smart money investors are those with a record of executing profitable trades, while whales hold large amounts of tokens that can significantly impact the price.
CoinGecko data shows that Bonk’s daily volume has pulled back to $500 million, while its futures open interest dropped to $36 million, down from Sunday’s $43 million.
Falling open interest and volume can signal accumulation, which can lead to further gains. Another bullish catalyst is that the weighted funding rate has remained positive since July 31. A positive funding rate indicates that investors anticipate the price to rebound.
Investors have also been pulling Bonk tokens from exchanges, with exchange outflows recorded for the past five consecutive days, a sign of continued accumulation.
Bonk price technical analysis
The daily chart shows that Bonk dropped to $0.000008953 in March and formed a small double-bottom pattern. A double bottom is characterized by two lower swings and a neckline at $0.00001543. The token then peaked at $0.00004060 in July before pulling back to the current $0.00002575.
Bonk has retested the crucial support level at $0.00002575, its highest point in May. A break-and-retest pattern is a common continuation signal.
It has also formed a golden cross pattern as the 50-day and 200-day Exponential Moving Averages crossed each other, along with a mean reversion after retesting the 200-day EMA.
Therefore, Bonk will likely rebound and retest the resistance at $0.000040, up by 55% from the current level. This bullish forecast will be invalidated if it falls below the support at $0.00002338.
