#BinanceTurns8 What are the latest updates on $BONK
#BreakoutTradingStrategy BONK shows an upward momentum driven by dominance in launch platforms and speculation about an ETF, although overbought conditions suggest a possible consolidation.
1. Bonk.fun surpasses Pump.fun with a 55% market share, driving BONK buybacks.
2. ETF rumors and the burning of 1 trillion tokens as key catalysts.
3. Price rises 63% weekly, but the RSI indicates overextension.
BONK reached $0.00002386 on July 8 (+11% in one day), surpassing MAGA (TRUMP) as the fourth largest memecoin with a market cap of $1.84 billion. Trading volume surged to $1.45 billion, the highest since November 2024, with accumulation by large investors detected at the $0.000021 support (Coindesk). However, the RSI index reached 81, indicating overbought conditions and increasing the risk of a short-term correction.
The growth of the BONK ecosystem and its innovations in tokenomics position it as the leader of memecoins on Solana, although its sustainability will depend on maintaining dominance in launch platforms against Bitcoin's 64.3% market dominance. Can BONK withstand market volatility if the proposed ETF faces delays?