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By Jamie Crawley, CD Analytics
Jul 9, 2025, 12:38 p.m.
- BONK fell 6% to $0.00002161 as massive sell volume overwhelmed support zones.
- Bonk.fun now leads Solana token launches, posting $539 in daily volume across 200,000 projects.
- Posts on X highlight bullish structural shift as buybacks and burns redirect fees into BONK’s ecosystem.
BONK tumbled 5.6% in the past 24 hours, falling $0.00002161 after a wave of selling pressure reversed earlier gains and broke through key support zones. Despite the near-term pullback, underlying ecosystem developments continue to support a broader bullish narrative.
Attempts to reclaim $0.000022 between 20:00 UTC-21:00 UTC faltered despite 716.32 billion tokens in turnover, signaling deepening bearish control.
STORY CONTINUES BELOW
However, beneath the surface, BONK’s foundations are strengthening. Bonk.fun platform, closely tied to the token, has surged to dominance – accounting for 55% of Solana token launches. Over 200,000 projects have launched on the platform, generating 24-hour trading volume of $539 million on Tuesday.
Millions in platform fees are being redirected toward BONK buybacks and burns, reducing supply and reinforcing value. Community sentiment on X (formerly Twitter) reflects this shift, with users increasingly framing Bonk.fun’s ascent as a structural market share rotation in favor of BONK.
While there may be continued selling pressure in the short term, BONK’s expanding ecosystem utility and aggressive tokenomics suggests deeper resilience – and potential upside – beyond the immediate chart.
- BONK dropped 6% from $0.000023 to $0.00002161 over 23 hours.
- $0.000023 was rejected with a 752.4 billion volume surge at 18:00 UTC.
- Multiple failed bounces at $0.000022 despite 716.32 billion in turnover confirmed weakening support.
- Price tested the $0.000021–$0.000022 zone repeatedly, now acting as a new base.
- Short rally from 08:55-09:54 UTC reached $0.000022, with a 43.08 billion spike at 09:44.
- Resistance at $0.000022–$0.0000222 remains intact, keeping BONK in a tight range.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
Jamie has been part of CoinDesk’s news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
CoinDesk Analytics is CoinDesk’s AI-powered tool that, with the help of human reporters, generates market data analysis, price movement reports, and financial content focused on cryptocurrency and blockchain markets.
All content produced by CoinDesk Analytics is undergoes human editing by CoinDesk’s editorial team before publication. The tool synthesizes market data and information from CoinDesk Data and other sources to create timely market reports, with all external sources clearly attributed within each article.
CoinDesk Analytics operates under CoinDesk’s AI content guidelines, which prioritize accuracy, transparency, and editorial oversight. Learn more about CoinDesk’s approach to AI-generated content in our AI policy.
