title: One meme token operating on Solana (SOL) is in the early stages of a market recovery.

Pseudonymous analyst Altcoin Sherpa tells his 243,800 followers on the social media platform X that he's bullish on the memecoin Bonk (BONK).

A closely followed crypto analyst is highlighting one meme token operating on Solana (SOL) that he thinks is in the early stages of a market recovery.

In a new analysis, pseudonymous trader Altcoin Sherpa says that he’s bullish on Bonk (BONK). The trader notes that the meme coin will likely face resistance at the $0.000012 level before printing a bullish higher low setup and rallying to his target above $0.0000145.

“Expecting there is some sort of chop between $70,000-$90,000 over the next several weeks for BTC. Relative bottom probably in, but still some more consolidation to come.”

At time of writing, Bitcoin is trading for $85,366.

News data source: kdj.com

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