BONK drops 18% as memecoins slide – Is another leg down coming?

ambcryptoPublicado a 2026-02-02Actualizado a 2026-02-02

Resumen

BONK, a leading memecoin, experienced a significant downturn, dropping 18.77% amid a broader memecoin sector decline of over 15%. Despite a promising bullish breakout in early January, where it breached a key resistance level and rallied, the momentum faltered. The broader bearish pressure, partly due to Bitcoin's inability to sustain higher prices, contributed to the sell-off. Key support around $0.0000074 was swept, and a short-term bounce toward $0.0000090–$0.0000095 is possible. However, traders are advised to view any rebound as a selling opportunity, anticipating further declines toward $0.0000060 or lower. A bearish reversal is expected in early February.

BONK saw a bullish structure shift in the first week of January. This breakout appeared highly promising, but has faltered massively since then.

The popular memecoin ranks 6th in the sector, sorted by market capitalization.

CoinMarketCap data revealed that the memecoin sector has been hit hard by the past week’s losses. The sector is down 15.47% collectively, and BONK was down 18.77%.

For comparison, the leading meme, Dogecoin [DOGE], has shed 14.5%.

BONK rally only a blip in a longer-term downtrend

As covered earlier, the bullish structure break in early January came when the downtrend’s swing point at $0.0000103 was breached. Subsequently, Bonk [BONK] rallied to $0.0000134 but fell back over the rest of the month.

Bitcoin’s [BTC] inability to stay above $94.5k over the past two weeks highlighted bearish pressure in the market, and BONK faced sizeable selling pressure. As a result, the OBV fell below December’s low, keeping the OBV’s downtrend since August ongoing.

The path ahead for BONK

The cluster of liquidations around $0.0000074 has been swept. To the north, the next interesting magnetic zones were at $0.0000090 and $0.0000095.

The memecoin may see a price bounce to this liquidity pocket.

However, as things stand, it is unlikely the bounce would extend that high.

Traders’ call to action – Expect a short-term bounce and a reversal

The 1-hour price chart presented a bearish setup for traders. Based on the most recent impulse move on this timeframe, the $0.00000755-$0.00000785 levels were key Fibonacci retracement levels.

BONK would likely bounce to test these resistance levels before continuing its bearish move.

Traders can use this bounce to sell. The downward move would target the $0.0000064 local low, and could slide further to $0.0000060 and $0.0000053.

Final Thoughts

The Bonk breakout in early January was promising, but it did not go as the bulls expected it to.
A short-term price bounce followed by a bearish reversal is expected in the first week of February.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

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Preguntas relacionadas

QWhat was the overall performance of the memecoin sector in the past week according to CoinMarketCap data?

AThe memecoin sector was down 15.47% collectively over the past week.

QWhat key level did Bitcoin's (BTC) inability to hold above contribute to bearish pressure on BONK?

ABitcoin's inability to stay above $94.5k over the past two weeks highlighted bearish pressure in the market, which contributed to selling pressure on BONK.

QAccording to the analysis, what is the expected short-term price action for BONK in the first week of February?

AA short-term price bounce followed by a bearish reversal is expected in the first week of February.

QWhat are the two key Fibonacci retracement resistance levels identified on the 1-hour chart for BONK's potential bounce?

AThe two key Fibonacci retracement resistance levels are $0.00000755 and $0.00000785.

QWhat was the significance of the price level at $0.0000103 for BONK's trend in early January?

AThe price level at $0.0000103 was the downtrend's swing point. Breaching this level in early January signaled a bullish structure shift.

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¡Bienvenido a HTX.com! Hemos hecho que comprar Bonk (BONK) sea simple y conveniente. Sigue nuestra guía paso a paso para iniciar tu viaje de criptos.Paso 1: crea tu cuenta HTXUtiliza tu correo electrónico o número de teléfono para registrarte y obtener una cuenta gratuita en HTX. Experimenta un proceso de registro sin complicaciones y desbloquea todas las funciones.Obtener mi cuentaPaso 2: ve a Comprar cripto y elige tu método de pagoTarjeta de crédito/débito: usa tu Visa o Mastercard para comprar Bonk (BONK) al instante.Saldo: utiliza fondos del saldo de tu cuenta HTX para tradear sin problemas.Terceros: hemos agregado métodos de pago populares como Google Pay y Apple Pay para mejorar la comodidad.P2P: tradear directamente con otros usuarios en HTX.Over-the-Counter (OTC): ofrecemos servicios personalizados y tipos de cambio competitivos para los traders.Paso 3: guarda tu Bonk (BONK)Después de comprar tu Bonk (BONK), guárdalo en tu cuenta HTX. Alternativamente, puedes enviarlo a otro lugar mediante transferencia blockchain o utilizarlo para tradear otras criptomonedas.Paso 4: tradear Bonk (BONK)Tradear fácilmente con Bonk (BONK) en HTX's mercado spot. Simplemente accede a tu cuenta, selecciona tu par de trading, ejecuta tus trades y monitorea en tiempo real. Ofrecemos una experiencia fácil de usar tanto para principiantes como para traders experimentados.

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Discusiones

Bienvenido a la comunidad de HTX. Aquí puedes mantenerte informado sobre los últimos desarrollos de la plataforma y acceder a análisis profesionales del mercado. A continuación se presentan las opiniones de los usuarios sobre el precio de BONK (BONK).