BONK drops 18%, meme coins decline—will there be another round of downturn?

According to CoinWorld, BONK rebounded to $0.0000134 after breaking through $0.0000103 in early January, but then declined again under overall market pressure. Over the past week, this cryptocurrency has dropped by 18.77%, underperforming the industry average decline of 15.47%. Its On-Balance Volume (OBV) indicator hit a new low, and the downward trend remains solid. In the short term, BONK may rebound to the Fibonacci zone of $0.00000755-$0.00000785, but traders may see this as a selling opportunity, as its downside targets are $0.0000060 and $0.0000053, respectively.