BONK Surges 11% as Community Hype & Trading Volume Spark Bullish Breakout
Memecoin madness is back—BONK just ripped an 11% rally off community fervor and surging volume. Who needs fundamentals when you've got vibes?
Breaking the downtrend. After weeks of sideways action, the Solana-based dogcoin shattered resistance with its biggest single-day pop since June. Traders are piling in like it's 2021 again.
Liquidity follows the meme. Spot volumes spiked 300% as perpetual funding rates flipped positive—degenerates are paying premiums to chase the pump. Because nothing says 'sound investment' like a token named after dog barks.
Watch the FOMO trap. While the breakout looks strong, BONK's 90-day chart still shows a 40% haircut from ATH. This ain't your VC-backed 'utility' play—just pure, uncut crypto speculation at work.
Technical Analysis Highlights
- BONK traded in an 11.49% range, from $0.000021124 to $0.000023862, during the July 8 session.
- $0.000021124 was confirmed as key support with 2.60 trillion volume during the reversal.
- Final-hour price held between $0.000022848–$0.000023033, forming a bullish consolidation band.
- A 41.5 billion unit spike at 10:25 GMT signaled renewed buying pressure and potential breakout.
- Volume averaged 11.2 billion units per minute in the final hour, indicating sustained demand.
- BONK flipped TRUMP to become the fourth largest memecoin by market cap, backed by social momentum.
- Bonk.fun platform dominance and anticipated meme-art initiatives support long-term growth narrative.
Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
