BONK Declines 6% Despite Bonk.fun's Growing Influence
BONK faces a 6% decrease as seller activity increases, even with Bonk.fun's rising market presence and strategic developments.
Key Takeaways:
- BONK experienced a 6% drop to $0.00002161 as selling pressure surged.
- The Bonk.fun platform leads in Solana token launches, generating $539 million in daily trading volume across 200,000 projects.
- Social media discussions indicate a bullish trend, as buybacks and burns are shifting liquidity back into BONK’s ecosystem.
BONK has recently dropped 5.6% within a 24-hour frame, settling at $0.00002161 due to heavy sell volume that surpassed support levels. The underlying ecosystem developments, however, continue to suggest a long-term strength.
Previous attempts to recover to $0.000022 within the UTC window from 20:00 to 21:00 failed, despite a massive turnover of 716.32 billion tokens, reflecting deepening bearish control.
BONK-USD, July 9, 2025
Source: CoinDesk
However, BONK’s foundations seem to be strengthening as the Bonk.fun platform is dominating the market, now accounting for 55% of new launches on Solana. With over 200,000 projects launched, the platform is proving to be a significant player by converting platform fees into BONK buybacks and destroying tokens, thereby enhancing its value.
While short-term selling pressure persists, BONK’s expanding utility and robust tokenomics showcase a strong potential for recovery beyond the immediate fluctuations.
