Benzinga - Crypto trader Unipics, also known as “Bonk Guy,” shared his bullish outlook on Bonk (CRYPTO: BONK), forecasting an imminent explosive rally.
What Happened: “Bonk guy” attributes BONK’s recent weakness, particularly on weekends, to the ongoing vesting of tokens to OpenBook users. Every Friday, 161 billion tokens, worth around $4 million, are released, creating a significant source of sell pressure. However, with less than two weeks remaining until the vesting period ends, the trader anticipates a shift in market dynamics.
bonk was the best performing memecoin of 2023it did over 10,000% towards the end of the year when many felt it was dead
the thing with memecoins is that they are insanely volatile, both to the upside and downside
when bonk rallies next, it will trigger fomo & absolutely rip https://t.co/EZmKGpcm8v
— Unipcs (aka 'Bonk Guy')