Let's briefly analyze the recent strong performance of #Bonk :
1. Bonk.fun platform explosion and buyback mechanism
Bonk.fun capturing market share: The market share of this meme coin launch platform on Solana surged to 55-61% last week, consistently leading competitors, with transaction fees exceeding one million dollars for several days according to Yahoo Finance.
Transaction fee buyback and burn: Approximately 58-60% of transaction fees are used to repurchase and burn BONK, continuously creating buying pressure.
2. Heat and influx of funds
Surge in trading volume: In recent days, trading volume has skyrocketed by 160-315%, with strong net inflows of funds on-chain, and a large amount of BONK being transferred out of exchanges for long-term holding.
Increased turnover rate: The influx of funds drives volatility, forming a technical breakout trend.
3. Technical breakout and bullish pattern
Multiple technical patterns confirmed: The price broke out from a descending wedge or double bottom structure, accompanied by Bollinger Band expansion, MACD golden cross, and MFI overbought signal (90+).
RSI trend: The daily RSI is close to 70, overbought but not significantly diverging, with bullish strength still present.
4. ETF expectations emerging
Rumors of a 2x leveraged BONK ETF: Institutions like Tuttle have submitted relevant documents, which may launch as early as mid-July, increasing market speculation around BONK.
Increased institutional attention: Grayscale has been added to the monitoring list, indicating potential institutional product interest.
Combining the ecological growth of the Bonk.fun platform + transaction fee buyback mechanism + strong capital inflow + significant technical breakthroughs + ETF theme expectations creates multiple resonances, driving BONK to reach new highs recently. However, in the short term, it is still close to resistance levels (e.g., $0.000026–0.000028), so consider buying on dips later.
Operational suggestions:
Spot traders: Wait for a pullback to confirm support before gradually building positions, with a focus on the ~$0.000025–0.000026 range.
Contract traders: Wait for technical confirmation after a pullback, then enter long positions at lower levels, controlling profits well during corrections.
