BONK investors are starting to lose hope in the meme cryptocurrency

The meme cryptocurrency BONK recently went through a tumultuous phase, causing investors to become even more cautious.

The decline in the price of BONK led to doubt its unprofitability and thus most investors began to reconsider their strategies.

Weighted Sentiment, which measures market sentiment through social media and trading activity, showed a negative bias as there was an increase in sell and profit talk each day.

Likewise, the funding rate, which represents the cost of holding long positions, fluctuated between positive and negative values, suggesting that uncertainty has engulfed traders.

Santiment analysts, who are recognized leading experts in blockchain analytics, have noticed increased fear in the market – often an early indicator of potential buying opportunities during panic selling.

They claim that if BONK can hold above key levels such as near $0.00002748, it shows signs of a possible recovery to $0.00003000.

The altcoin dropped from $0.00004114 to $0.00002519 recently, highlighting its volatile nature. In other words, so far the range between $0.00002748 and $0.00002153 has been an important consolidation zone where various price movements have become decisive factors for future BONK price trends or prospects.

Investors are watching these levels closely for any indication of rebounds that would confirm renewed buying interests, thereby stabilizing the price in the near term.