The market cap of Solana meme coin Bonk (BONK) has dropped by $1.8 billion in the last 30 days, amid a 34.11% price decrease. While some see this as a buying opportunity, on-chain analysis suggests accumulating BONK at current prices could be risky. The decline is attributed to both BONK's price fall and the broader invalidation of the altcoin season. Weighted Sentiment for BONK has been negative since November 22, indicating persistent bearish sentiment. The price has dropped below the $0.000035 support, suggesting the correction is not over. If bears remain in control, BONK could drop to $0.000025. Conversely, if bulls defend the $0.000030 level, BONK could rebound to $0.000042 or even $0.000065 in a highly bullish scenario. #Bonk #BONK #Crypto #MarketCap #PriceAnalysis #WeightedSentiment #Bearish #Bullish