In the ever-evolving world of cryptocurrencies, few tokens have made as much noise as BONK. With a recent surge of 7.9% over the last 24 hours, this Solana-based memecoin has gained significant traction amid heightened trading activity and major corporate backing.
What’s Driving BONK’s Price Surge?
The pivotal catalyst behind BONK’s rally has been the $25 million investment by Nasdaq-listed beverage company, Safety Shot. As part of their investment, Safety Shot also secured a 10% revenue-sharing stake in Bonk.fun. This massive influx of institutional interest positions BONK as more than just a speculative asset—it’s becoming a foundational player in Solana’s growing meme economy.
Key Factors Fueling the Momentum
Revenue-Driven Buybacks: Bonk.fun generated an impressive $35 million in July fees, with 90% reinvested into BONK buybacks. This mechanism significantly reduces the circulating supply, boosting upward price pressure.
Strong Real-World Adoption: Beyond hype, BONK is now integrated into 400+ Solana dApps (decentralized applications), establishing its use case and value within the ecosystem.
Market Leadership: Bonk.fun has overtaken Pump.fun, notably handling 55% of meme coin launches on Solana. With over $1.04 million in daily fees—35% of which is allocated to token burns and buybacks—BONK’s tokenomics are solidifying.
Technical Analysis and Price Targets
From a technical standpoint, BONK is showing strong signs of bullish momentum. Following a MACD bullish crossover and a 91% volume surge, the token reclaimed the key $0.000024 resistance level. However, traders should take note of the Relative Strength Index (RSI), which currently sits at 75.28, indicating overbought conditions.
Immediate resistance is observed at the $0.000028 zone, while a break above this level could lead to BONK testing its Fibonacci extension target at $0.000031. On the downside, support is seen at $0.00002038, followed by the lower Bollinger Band at $0.00001866.
What’s Next for BONK?
For investors, BONK offers a unique mix of speculative upside and legitimate market integration. The $25 million Safety Shot backing, paired with revenue-linked buybacks from Bonk.fun, sets a strong foundation for this token’s continued growth.
If you’re looking to diversify your portfolio with high-risk, high-reward assets, BONK could be worth considering—though caution is warranted during overbought conditions.
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