BONK continued its explosive run, climbing 11% over the 24 hours ending July 8 with trading volume surpassing $1 billion.
After plunging to $0.000021124, BONK staged a dramatic recovery and closed at $0.000022868. As of the latest reading, the token trades at $0.0000228, slightly off highs but firmly within bullish territory.
A consolidation zone formed between $0.000022848 and $0.000023033, with a breakout attempt at 10:25 GMT accompanied by a volume spike, underscoring building bullish pressure.
Momentum is also soaring on the social front. Posts on X (formerly Twitter) highlight BONK’s milestone flip of TRUMP, making it the fourth largest memecoin by market cap.
The community-powered bonk.fun platform, now commanding 54.7% market share, is credited for driving both user activity and on-chain buybacks.
Users have also pointed to BONK’s vibrant meme ecosystem, anticipating that upcoming art-based campaigns and NFT-style projects could become new growth engines.
Institutional and macro narratives are also aligned. Tuttle Capital’s rumored 2x leveraged BONK ETF has stirred speculation, while dovish Fed signals and global tariff extensions have broadened crypto risk appetite.
With breakout volume, confirmed support, and a hyper-engaged community driving attention across meme culture and DeFi, BONK looks well-positioned for continued upside in the near term.
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.
Disclaimer: 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.