Key points
- BONK is the top performer among the 50 largest cryptocurrencies by market capitalization.
- The memecoin could climb above $0.000032 if market conditions remain favorable.
BONK rises 10%, outpacing other memecoins
BONK, the native token of the Bonk memecoin ecosystem, has emerged as the strongest performer among the 50 largest cryptocurrencies by market capitalization. Over the past 24 hours the token gained 10% and is now trading at $0.00002326 per coin.
The token’s recent strength is largely driven by a surge of activity on LetsBonk, a newly developed launchpad for tokens. For months Pump.fun dominated Solana token launchpads, but momentum has shifted toward LetsBonk—often referred to by some as Bonkfun. At the time of writing, LetsBonk holds about 55% of the overall launchpad market share.
🚨 @bonk_fun now holds 55% of the overall launchpad market share, while Pumpfun falls below 35% pic.twitter.com/N2hBgS5b0B
— The Solana Post (@thesolanapost) July 7, 2025
BONK targets $0.00003265 with strong support at $0.00002062
The BONK/USD 4‑hour chart looks highly bullish as the token’s upward move continues. Technical indicators point to further upside. At present, price action suggests liquidity has been drawn down in preparation for a potential rally.
Following a 46% gain last week that broke a wedge pattern, BONK’s bullish momentum this week is aiming to revisit the May highs. A daily close above $0.00002218 could push BONK toward $0.00002581, the initial target established by the descending wedge breakout.
If the rally extends, BONK could test $0.00003265 for the first time since January 2025.
An RSI reading of 81 indicates BONK is currently in overbought territory, while MACD lines remain firmly in positive territory, reflecting buyer pressure. The rising green bars on the histogram signal increasing momentum behind the uptrend.
However, if BONK fails to hold support above $0.00002218, it could retest the 50% Fibonacci level around $0.00001734 in the coming days.