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Bonk News: 17/07/2025
Bonk’s 24-hour price surge (+12%) reflects meme coin momentum, Solana ecosystem growth, and a key technical breakout.
- Grayscale listing speculation boosted institutional credibility
- 100B token burn tightened supply dynamics
- LetsBonk launchpad dominance drove ecosystem utility
1. Primary catalyst: Institutional interest & supply shock
BONK surged after Grayscale added it to its Q3 2025 watchlist, signaling potential institutional demand. Concurrently, BONK DAO burned 100B tokens (~$3.4M), reducing sell pressure. This dual narrative – institutional validation and deflationary mechanics – triggered speculative buying.
2. Technical context: Breakout confirmation
BONK broke the $0.00002434 resistance on July 17, triggering algorithmic momentum trades:
- RSI 85.39 (14-day): Overbought but confirms intense buying
- MACD histogram +0.00000162: Bullish divergence since July 16
- Fibonacci targets: Next resistance at $0.00004645 (127.2% extension)
- RSI 85.39 (14-day): Overbought but confirms intense buying
- MACD histogram +0.00000162: Bullish divergence since July 16
- Fibonacci targets: Next resistance at $0.00004645 (127.2% extension)
The 24-hour trading volume spiked 60% to $2.41B, validating the breakout.
3. Market dynamics: Solana ecosystem momentum
LetsBonk – BONK’s native launchpad – captured 51.9% of Solana’s memecoin creation market share this week, surpassing Pump.fun. This positions BONK as more than a meme token, with 35% of platform fees funding token buybacks.
BONK’s rally combines speculative hype, strategic tokenomics, and Solana’s resurgence. While technicals suggest overextension, the LetsBonk ecosystem growth provides mid-term support. Will BONK sustain momentum if Bitcoin dominance rebounds above 61.5% this week?
What is the latest news on BONK?
Bonk (BONK) surged 72% weekly, driven by ecosystem growth and institutional interest, but faces overbought risks amid memecoin volatility.
- LetsBonk.fun overtook Pump.fun in Solana memecoin launches, boosting BONK utility.
- Grayscale added BONK to its Q3 2025 watchlist, signaling institutional recognition.
- 100B BONK burned ($3.4M) by DAO vote, tightening supply.
1. Business & Partnerships
LetsBonk.fun, BONK’s Solana launchpad, surpassed Pump.fun in 24-hour volume ($838M vs. $638M) on July 17, capturing 51.9% market share (CoinMarketCap). This platform directs 50% of fees to BONK buybacks, creating a deflationary loop. However, Pump.fun still leads in 30-day revenue ($29M vs. $8.25M) and liquidity ($510M vs. $53M), posing long-term competition.
2. Market Metrics
BONK’s price hit $0.00003924 on July 17 (+78% weekly), with $2.41B daily volume (+60.78%) and derivatives open interest up 25% to $62.86M. RSI hit 85.92 (deeply overbought), suggesting short-term consolidation risk. Whale accumulation and exchange withdrawals tightened circulating supply, supporting price stability.
3. Regulatory & External Factors
Grayscale’s inclusion of BONK in its institutional monitoring list on July 17 enhanced credibility, mirroring earlier moves for Bitcoin ETFs. Meanwhile, Solana’s ecosystem strength (daily transactions >100M) and Ethereum’s rally above $3,400 provided macro tailwinds for memecoins.
BONK’s rally combines Solana’s technical momentum, strategic token burns, and institutional nods, but sustainability hinges on maintaining LetsBonk.fun’s lead and managing overbought pressures.
Watch this week: Can BONK hold $0.000034 support if Bitcoin dominance rebounds above 61%?
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CMC AI can make mistakes, please DYOR. Not financial advice.
