CryptoPM

$BONK

BONK’s 24h surge (+10.06%) stems from LetsBonk overtaking   Pump.fun in Solana’s memecoin wars and Bitcoin’s new ATH fueling risk-on meme rotations.

LetsBonk dominance – 55% market share in Solana memecoin launches (Cointelegraph)

Bitcoin tailwinds – BTC’s $118k ATH triggered capital flows into high-beta meme coins

Technical breakout – Cleared $0.00002434 resistance with bullish RSI/MACD alignment

Deep Dive

1. Primary Catalyst: LetsBonk Platform Surge

LetsBonk, BONK’s native token launchpad, overtook   Pump.fun in daily protocol revenue ($1.04M vs. $533k on July 7), capturing 55% of Solana’s memecoin market share. This shift:

Validates BONK’s ecosystem utility beyond meme status

Directly ties platform growth to token demand (35% of fees fund BONK buybacks)

Coincided with a 52% BONK price surge since LetsBonk’s late June launch (CoinMarketCap)

2. Technical Context: Breakout Confirmation

BONK reclaimed the $0.00002434 resistance (July 11), triggering momentum trades:

RSI 65.4 (14-day): Neutral but trending upward, avoiding overbought territory

MACD histogram +0.00000087: Bullish divergence since July 9

Next targets: $0.00002798 (127.2% Fib extension) if volume holds above $1.1B

Conclusion

BONK’s rally combines Solana ecosystem momentum, meme coin FOMO from Bitcoin’s ATH, and technical breakout confirmation. While LetsBonk’s traction suggests mid-term utility, meme coins remain vulnerable to sudden sentiment shifts.

Watch this week: Can BONK sustain its lead over   Pump.fun as the latter’s $600M ICO concludes on July 15?

#BONK #BONK2 #Altcoin Season# #Macro Insights#