BONK is stealing the spotlight today with a 6.2% price jump, now trading at around $0.00002327, based on CoinMarketCap data. That’s on top of a massive 66% surge over the past week, even though trading volume has dropped by 30%. The rally seems to be riding on a mix of Solana ecosystem growth, chart momentum, and plenty of speculation.
According to Alphanomics_io, smart money started flowing into BONK days before the breakout. Their analysis shows that some well-known wallets, ones tied to profitable trades, were loading up on BONK.
They also mentioned the growing rivalry between BONK’s launchpad, LetsBonk.fun, and the more established Pump.fun. With BONK’s utility expanding fast, some are even wondering if a real “flippening” is on the horizon.
That idea doesn’t seem far off. LetsBonk.fun has now surpassed Pump.fun as the top memecoin launchpad on Solana, at least in terms of daily revenue. CoinMarketCap shows that LetsBonk.fun pulled in $1.04 million in a single day, compared to $533,000 from Pump.fun. The catch? You need BONK to launch a token there, which has helped push demand even higher.
And the timing couldn’t be better. On July 6, BONK saw $1.13 billion in daily volume, a 90% spike in just one week. That kind of growth is catching attention across the space. On-chain trackers and DEX tools are now showing a clear uptick in BONK price activity, suggesting this move may be more than just hype.
Speculation Around Leveraged ETF and Supply Burn
Market speculation around a potential 2x leveraged BONK ETF, possibly launching as soon as July 16, has added to retail interest. The filing by Tuttle Capital is unconfirmed, but sources like Coindesk have reported on it, further fueling momentum.
$BONK has had significant outperformance since start of Q3 including post $SOL ETF listing
— Kadense Pengu°❗️❗️❗️ (@iamkadense) July 8, 2025
If you're bullish $SOL, buy $BONK ❗️❗️❗️ pic.twitter.com/q5F5jCiy85
BONK’s supply narrative is also contributing. The project confirmed a 1 trillion BONK token burn will occur once the number of holders reaches 1 million. As of now, there are approximately 947,000 holders. A tweet from Bonk_inu reiterated this milestone-driven event, reinforcing the deflationary expectations.
1 trillion $bonk burn at 1 million holders pic.twitter.com/7ha5OQVsNd
— jim (@jimmyhumania_) July 7, 2025
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BONK Technical Breakout and Momentum Indicators
BONK price broke through $0.000022 resistance on July 6 after spending a month in a downtrend. The move was backed by rising volume and RSI values above 74. MACD indicators also turned positive, signaling strong buying momentum.
Support has now formed at $0.0000225, turning the previous resistance into a short-term floor. Immediate resistance sits near $0.0000301, where price is currently pausing. DEX data shows stronger buy pressure, with 2,680 buys against 2,493 sells and higher cumulative buy volume.
Moreover, BONK price remains in a bullish structure following a 40% move confirmed by wallet and chart analysis. Liquidity stands at $2.3 million with a growing FDV of $2.02 billion. Traders are watching ETF developments and on-chain metrics to assess whether BONK can maintain this breakout if Bitcoin dominance continues to climb above 64.5%.
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