BONK (BONK) Skyrockets 70%: Solana’s Hottest Meme Coin Fuels Frenzy as Bonk.fun Platform Ignites Demand

Solana's favorite meme coin just pulled a rabbit out of its hat—BONK's price exploded 70% overnight as traders piled into the Bonk.fun platform. Here's why the degens are fomo-ing.

The Bonk.fun Effect

No utility? No problem. The Solana-based joke token is riding sheer speculation and platform-driven hype to dizzying heights. Bonk.fun's gamified trading features have turned 'buy the dip' into a full-blown sport.

Meme Coin Math: 70% Gains > Fundamentals

While Bitcoin ETFs debate regulatory scrutiny, BONK laughs all the way to the blockchain bank. Another reminder that in crypto, memes sometimes print harder than whitepapers. Just don't ask about the 'exit liquidity' part.

TLDR

• BONK has gained 70% over the past 10 sessions, outperforming Bitcoin and Dogecoin
• Bonk.fun launchpad generated $7.93 million in fees over seven days, with 58% used for BONK buybacks
• Token reached key resistance level of $0.00002626 where it previously reversed in April
• Exchange outflows of $1.88 million worth of BONK suggest accumulation by long-term holders
• Technical analysis shows potential for 37% gain to $0.0000364 if resistance breaks

BONK has captured attention with a dramatic 70% price surge over the past 10 trading sessions. The Solana-based meme coin is trading at $0.00002719, marking a 6.27% increase in 24 hours and a 23% rise over the past week.

The rally comes as BONK outpaces major cryptocurrencies including Bitcoin and Dogecoin. Trading volume has spiked 160% in recent sessions, showing increased investor interest in the token.

The price movement appears linked to the explosive growth of the Bonk.fun launchpad platform. Over the past week, the platform recorded six consecutive days with fees exceeding $1 million. On July 11th, daily fees peaked at $1.27 million according to DeFiLlama data.

The platform generated $7.93 million in total fees across seven days. According to crypto analysts, 58% of these fees are used to buy back BONK tokens, creating steady demand pressure.

Bonk.fun recently overtook Pump.fun in daily revenue, launch volumes, and Solana-based token deployments. The platform claimed 61% of total 24-hour launchpad revenue, establishing its market leadership.

Technical Analysis Shows Key Resistance Test

BONK now trades NEAR the $0.00002626 resistance level, a zone with historical importance. In April 2025, the token reached this same level after breaking a descending trendline before reversing lower.

The current setup mirrors the April pattern, with BONK again breaking out of a descending trendline to reach the same resistance zone. This raises questions about whether the token can break through this time.

The 200-day Exponential Moving Average shows BONK remains in an uptrend. However, the Relative Strength Index sits at 70, indicating overbought conditions that could trigger short-term corrections.

Exchange Outflows Signal Accumulation

Despite overbought technical readings, investors continue accumulating BONK tokens. CoinGlass data shows exchange outflows of $1.88 million worth of BONK, suggesting buying pressure from long-term holders.

Exchange outflows typically indicate that investors are moving tokens to cold storage for extended holding periods. This pattern often signals bullish sentiment among dedicated holders.

Crypto analyst Solberg Invest noted that BONK has rallied over 100% since breaking its midterm downtrend line. The analyst’s chart analysis suggests the first technical target has been achieved.

Fibonacci-based projections point to potential upside targets in the $0.000030 to $0.000032 range. If the current resistance breaks, technical analysis suggests a possible 37% gain to $0.0000364.

CoinGecko data confirms the token’s momentum with a 40.4% gain over the past week. Trading volume jumped 65.1% during the same period, showing sustained investor interest.

The token has established itself as one of the top-performing Solana-based assets. A successful bounce from the $0.000024 support level WOULD confirm the breakout strength.

Current market data shows BONK trading at $0.00002508 with continued upward momentum and sustained trading volume increases.