BONK Rockets 11% to Claim Fourth Largest Memecoin Spot, Driven by Community and Volume Surge
BONK surged 11% over the last 24 hours ending July 8, propelled by a sharp rise in trading volume that topped $1 billion. This momentum helped BONK leapfrog TRUMP to become the fourth largest memecoin by market capitalization.
The token bounced back from a low of $0.000021124, closing near $0.000022868 after consolidating in a tight range just below its high. A key breakout attempt around 10:25 GMT was accompanied by a significant spike in volume, signaling growing buying interest.
Social media and community engagement remain strong, with the bonk.fun platform—now commanding a 54.7% market share—playing a pivotal role in fueling user activity and on-chain buybacks.
The ecosystem’s upcoming meme art campaigns and NFT projects have also sparked optimism for sustained growth in the token’s use and appeal.
On the institutional side, speculation about a leveraged BONK ETF from Tuttle Capital, combined with macro tailwinds like tariff delays and a dovish Federal Reserve, are further bolstering investor confidence.
With solid volume supporting key price levels and an active community driving adoption, BONK appears well-positioned for continued gains.
Technical Summary
- BONK’s price fluctuated within an 11.49% range, from $0.000021124 to $0.000023862 on July 8.
- Support held strong at $0.000021124, reinforced by a 2.6 trillion unit volume rebound.
- The token consolidated between $0.000022848 and $0.000023033 before attempting to break out.
- Volume surged to 41.5 billion units at 10:25 GMT, indicating heightened buying pressure.
- Average trade volume in the final hour hit 11.2 billion units per minute, sustaining momentum.
- BONK overtook TRUMP in market cap, fueled by vibrant social media engagement.
- The dominance of bonk.fun and planned meme-art initiatives support a positive outlook.
