Key takeaways
- BONK is the best performer among the top 50 cryptocurrencies by market cap.
- The memecoin could rally above $0.000032 if market conditions persist.
BONK surges 10%, outperforms other memes
BONK, the native token of the Bonk memecoin, is the best performer among the top 50 cryptocurrencies by market cap. The token added 10% to its value in the last 24 hours and now trades at $0.00002326 per coin.
The token’s positive performance is primarily driven by the surge in activity on LetsBonk, a recently developed token launchpad. For months, Pump.fun dominated the Solana token launchpad space. However, the story has changed as Pump.fun lost market share to LetsBonk, which some people call Bonkfun. As of this writing, LetsBonk now holds 55% of the total launchpad market share.
🚨 @bonk_fun now commands 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 4H chart is extremely bullish thanks to the token’s ongoing rally. The technical indicators suggest further upward movement. The pair is currently efficient, suggesting that BONK has swept liquidity to the downside in anticipation of an upward rally.
Following the 46% surge last week with a wedge pattern breakout, BONK’s bullish start this week targets the highest price in May. A daily close above the $0.00002218 could see BONK target the $0.00002581 level, the inception point of the falling wedge pattern.
In the event of an extended rally, BONK could test the $0.00003265 level for the first time since January 2025.
The RSI of 81 suggests that BONK is currently in the overbought region, while the MACD lines are firmly in the positive zone, suggesting a buying pressure. A rising trend in the green histogram bars indicates increasing uptrend momentum.
However, if BONK fails to hold the support level above $0.00002218, it could retest the 50% Fibonacci level at $0.00001734 in the coming days.
