BONK, a Solana-based memecoin, extended its uptrend to a fifth day this week. The token’s price has climbed about 60% from July 1 to July 7, trading around $0.00002327 on July 7. It’s market capitalization rose to $1.87 billion, up 7.7% in 24 hours. Trading volume reached $1.12 billion, rising 1.2% over the same period.
This week’s gains have pushed BONK’s price to levels last seen in late April. The token’s circulating supply stands around 80.5 trillion, supported by an ongoing burn mechanism that removes tokens from circulation when new projects launch on LetsBONK.
LetsBONK Surpasses Pump.fun in Solana Memecoin Launches
Behind BONK’s recent price surge is the growing influence of LetsBONK, a new Solana memecoin launchpad. Data from Dune shows LetsBONK, also known as Bonk.fun, overtook Pump.fun in daily token launches and trading volume for the first time since Pump.fun’s debut in January 2024.
LetsBONK recorded about 18,100 new token launches in a 24-hour period, nearly double Pump.fun’s 9,535 launches. The platform also graduated more tokens — a metric showing how many new coins reach the minimum market cap needed to trade on decentralized exchanges. Jupiter, a Solana DEX aggregator, tracked LetsBONK’s share of launch-related volume at nearly 50%, while Pump.fun’s share fell below 41%.
What’s Driving LetsBONK’s Growth?
LetsBONK launched in April 2025 as a competitor to Pump.fun’s memecoin launchpad model. Unlike Pump.fun, LetsBONK directs half of its launch fee revenue to buy and burn BONK tokens. This fee structure supports BONK token’s price by creating ongoing buying pressure and reducing supply. The platform also backs BONKsol, a liquid staking token tied to Solana’s staking ecosystem.
The burn-driven model continues to reduce BONK’s supply and has supported fresh buying. BONK’s holder count has risen to about 111,900 wallets this week, according to CoinMarketCap data. The BONK ecosystem has benefited from LetsBONK’s rise. Because the launchpad burns BONK with every new launch, increased platform activity directly supports the token’s supply reduction. This structure helps keep liquidity active as new participants enter the ecosystem.
Recent data from CoinMarketCap shows BONK’s volume-to-market-cap ratio at about 60%, indicating strong liquidity. While Pump.fun faces a pending class-action lawsuit filed in January 2025, according to public court records, LetsBONK has used the opportunity to capture market share.
Will Bonk’s 5-Day Uptrend Continue?
BONK’s five-day uptrend has pushed the price into a resistance zone seen in April and May. The price now approaches levels where previous rallies lost momentum, and some traders are watching whether profit-taking could test the trend. Adam Tehc, a Dune dashboard creator who tracks memecoin launches, noted that while LetsBONK now leads Pump.fun, maintaining that position daily will require consistent launch activity.
on 1-day price chart, BONK has broken out of its previous descending channel. The recent candles show a clear five-day run above all major exponential moving averages (20, 50, 100, 200 EMA) as of July 7. These EMAs align between $0.0000164 and $0.0000185, providing layered support below current levels.
The chart also shows BONK trading within an upward channel that could extend on a longer timeframe,. The upper trendline suggests immediate resistance near $0.000025, where sellers could test the strength of this rally. The recent high volume — about 1.32 trillion BONK on July 7 — supports the breakout move.
If BONK holds the midline of this channel, the next logical upside test remains the April–May zone near $0.000028 to $0.00003. Should profit-taking increase, the lower channel trendline and the cluster of EMAs below $0.000018 could act as support levels.
If LetsBONK sustains high daily launches and graduations, BONK’s deflationary pressure could continue to support the price. However, any drop in launch activity or shifts in Solana memecoin trends could reduce buying demand for BONK.
