Key takeaways
- BONK is the top-performing cryptocurrency among the 50 largest coins by market capitalization.
- The memecoin could climb above $0.000032 if current market conditions persist.
BONK rises 10%, outperforms other memecoins
BONK, the native token of the Bonk memecoin ecosystem, has emerged as the best-performing asset among the 50 largest cryptocurrencies by market cap. The token gained roughly 10% over the past 24 hours and is currently trading around $0.00002326 per coin.
The token’s positive performance is largely driven by increased activity on LetsBonk, a recently developed Solana token launchpad. For months, Pump.fun dominated Solana launchpad activity, but market dynamics have shifted. Pump.fun has lost market share to LetsBonk—often referred to by some users as Bonkfun. At the time of writing, LetsBonk controls about 55% of the total launchpad market.
🚨 @bonk_fun currently holds 55% of total launchpad market share while Pumpfun falls below 35% https://t.co/AkuzZ1TJVq 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 strongly bullish amid the token’s ongoing rally. Technical indicators point to the potential for further upside. Price action suggests BONK shifted liquidity lower in anticipation of an upward move.
Following a 46% surge last week and a breakout from a wedge pattern, BONK’s early-week momentum aims to revisit the highs seen in May. A daily close above $0.00002218 could set BONK on a path toward $0.00002581—the initial breakout level of the descending wedge.
If the rally continues, BONK may test $0.00003265 for the first time since January 2025.
The RSI sits near 81, indicating the token is currently in overbought territory, while MACD lines remain decisively in positive territory, signaling buying pressure. The rising green bars on the histogram reflect increasing momentum behind the uptrend.
However, if BONK fails to hold support above $0.00002218, it could revisit the 50% Fibonacci retracement level around $0.00001734 in the coming days.