BONK Price Aims for 37% Surge as $16M Token Leave Exchange

BONK returns to the spotlight after on-chain indicators, technical points, and exchange flows all agree on a strong potential price increase.

Although the token has increased by more than 8% compared to the previous day, there is still a possibility of an additional 37% increase from the current level.

Declining Exchange Supply and Smart Money Participation

According to the Nansen dashboard, the BONK supply on exchanges has decreased by 2.88% over the past 30 days. With 20.44 trillion BONK currently held on exchanges, this indicates a reduction of around 589 billion tokens. At a price of $0.00002835, this represents approximately $16.69 million in tokens leaving exchanges; a clear signal of reduced selling pressure.

Supporting this, the top 100 addresses currently hold 56.53 trillion BONK, increasing by 6.12% in the month. "Smart money" wallets have increased by 48.6%, while exchange and whale balances have decreased, confirming the internal circulation of supply into stronger hands.

Exchange supply measures the number of tokens held on trading platforms. A decrease typically signals lower short-term selling risks.

Golden Crossover Could Add Momentum to Price Surge

BONK is on track to confirm a Golden Crossover, as the 50-day EMA (exponential moving average) crosses above the 200-day EMA. This momentum signal is widely followed in technical analysis and often indicates the beginning of a long-term upward trend.

In recent sessions, price candles have emerged above both the 50-day EMA (orange) and 200-day EMA (green). This position confirms a strong market structure, and when the crossover is confirmed, the price increase story becomes even more robust.

BONK Price Target Remains Optimistic

BONK price has surpassed several Fibonacci extensions, with the 1.0 level at $0.00002826 currently serving as the primary support. The current price is around $0.00002835, and the next resistance area, marked by the 1.618 Fibonacci extension, is at $0.00003868; a potential 37% increase from the current level.

In case of a price correction, $0.00002826 and $0.00002466 remain strong support levels. These are levels where we can expect BONK price to bounce back.

Fibonacci levels help identify support/resistance zones based on previous price movements. The 1.618 extension often marks the next price increase target.

However, if BONK drops below $0.00002182 (the 0.618 Fib level and also the strongest support) and fails to hold above that level, and if exchange balances start increasing again, the price increase argument could quickly disappear.