The market first fell and then rose over the weekend, triggered by an ancient whale from 2011 activating 80,000 bitcoins, worth over 8 billion dollars at current market value, with a cost possibly under 1 dollar, yielding hundreds of thousands of times in profit, sending the market into a cold sweat. However, the current outlook seems not too problematic!
Meanwhile, the MEME coin #Bonk surged by an astonishing 60%, attracting retail investors' attention! Almost all the new projects launched recently are centered around Bonk, while Pump's previously touted TGE valuation of 4 billion and 1 billion in financing now seems to be cooling off!
Today, let's talk about the peak showdown between Bonk and Pump on the SOL chain.
Market focus: Three events that completely ignite market sentiment.
1️⃣ LetsBonkFun makes a comeback, with over 16,000 new tokens created in 48 hours, graduating 182, crushing PumpFun! This led to Pump's daily income plummeting by 86%, while #USELESS surged by 5700%, and the SOL chain's social media was flooded by Bonk-related content.
2️⃣ BONK announced: If the number of holding addresses exceeds one million, it will burn 1 trillion tokens, valued at over 22.8 million dollars! Community enthusiasm skyrocketed, pushing the market value to 1.77 billion.
3️⃣ Gate leaked PUMP TGE information: presale on July 12, with an FDV as high as 4 billion, deleted within 3 minutes, sparking doubts about profit-taking, shaking the market.
Data voting: funds, traffic, and narrative are all leaning towards BONK.
Pulling the focus back on-chain, LetsBonkFun's 24-hour active addresses have surpassed 37,000, with market share approaching half; PumpFun still retains a foundation of 80,000 active users, but cannot stop the continuous outflow of traffic.
In terms of coin price alone, BONK doubled in a week, with a total trading volume of 1.4 billion dollars on July 6, even surpassing SHIB and PEPE; the platform earned over 4,000 SOL in three days, all of which flowed back into the ecosystem. In contrast, PumpFun's TVL and daily trading volume have fallen simultaneously, with high-frequency selling pressure discouraging participants.
Why can grassroots BONK make a comeback?
Many newcomers don't know that BONK was born during the darkest moment after the FTX collapse. At that time, the Solana community was severely injured, and twenty developers simply airdropped 50% of the 100 trillion tokens, shouting the emotionally charged slogan 'People's Meme.'
This narrative of 'giving benefits to retail investors' works extremely well in the European and American markets, coupled with LetsBonkFun splitting 1% of each transaction fee into three parts: one for node staking to enhance security, one for repurchasing and burning BONK, and one for entering the ecological fund to support development—after the upgrade, half of the income is specifically used for repurchase. Any mechanism that allows voting with money can quickly rally people's support.
Comparison of Founders: One dares to flaunt positions and set the pace, while the other remains hidden and reaps rewards.
The difference in community atmosphere is most directly reflected in the founders. Bonk's @SolportTom almost daily publicly supports projects, and during May's GLONK civil war, he personally brought the Bonk version to a market value of 16 million; just a few days ago, he even posted 'Ni Hao' in Chinese, clearly sensing the enthusiasm of Eastern retail investors.
Looking at PumpFun's Alon, apart from selling off his own incubated projects, there is hardly any positive interaction; the community describes him as 'understanding only sarcasm and not how to protect the market.' Passion and indifference stand in stark contrast, making the difference clear.
Operating model: one 'drains blood,' the other 'produces blood.'
Explaining the story is quite cruel: #PumpFun relies on commissions and insider trading to attract traffic daily, lacking a feedback mechanism; #Bonk, on the other hand, invests money into the community, deflation, and the ecosystem. Funds will always follow profits, while users will always follow emotions; when the two create positive feedback, collapse can often happen in an instant.
Now BONK has written '50% of income for repurchase and destruction' into the rules, and has raised LP's permanent share to 10%; in contrast, PumpFun only offers a 0.05% share, no wonder it is criticized as 'beggar's subsidy.'
Personal opinion summary:
Short-term trading perspective: Before BONK breaks the 0.000023 dollar neckline, volatility is expected to be intense; capitalize on the momentum by closely monitoring 24-hour trading volume and whale address movements.
Mid-term logic: PumpFun siphons off, Bonk gives back; one drains, one nourishes—perhaps the collision of these two distribution models is the real highlight of this 'Meme War on the SOL chain.'
Risk warning: Meme coins are inherently driven by emotions; FOMO and vertical dives are only a tweet apart. Control leverage and take profits in time; don't let 'get-rich opportunities' turn into 'self-ignition incidents.'
A reminder: In an emotional market, controlling positions is always more important than predicting direction. Holding onto your chips gives you the qualification to wait for the true king to emerge.
That's it for the article! If you're feeling lost in the crypto world, consider working with me to layout and harvest from the market makers!