Looks like $bonk showing a hard double bottom reversal at support
Seems to be bullish spot volume coming into this thing and the perps are catching up, as indicated by the red circles (let me know if im reading this correctly @RickSendez )
Makes sense fundamentally as @SolportTom and @theunipcs have also been teasing @bonk_fun 2.0
Pump's continued public buy backs and positive price action as of late, surely is bringing back a focus to bonk and perhaps #useless here as well
My thesis is also that Solana is likely trading in a range that will tend lower (no near term catalyst that can pump it like trump coin imo), but that all the launchpads have an incentive to make sure the trenches stay on, being that its their main source of revenue.
That silly chart of the trenches being dead may be the signs of a early innings euthanasia coaster, but nonetheless, there is still much cash to be made, and dry powder from these teams to inject into their ecosystems.
I'm diving into charts & highlighting what I think are good r/r trades once daily. This is Day 2

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