Thanks to the recent spike in activity on Bonk’s decentralized meme coin launchpad, LetsBonk, demand for the Solana-based meme coin BONK has surged.
It now trades at a seven-day high, and momentum is building as on-chain interest intensifies.
BONK Booms as LetsBonk Crushes Pump.fun
BONK’s price rise in the past week is closely tied to the meteoric growth of LetsBonk, a launchpad that allows users to easily create and deploy meme coins on Solana.
Over the past week, LetsBonk has outperformed Pump.fun, the previous leader in the meme coin creation space, in terms of daily activity and revenue.
Yesterday alone, over 22,000 meme coins were launched via LetsBonk, more than double the 9,800 tokens created on Pump.fun during the same period.
During the same period, LetsBonk’s revenue totaled $1.23 million, more than the $520,419 recorded by Pump.fun, per DefiLlama.
This clear revenue lead confirms the platform’s growing dominance and shows that BONK’s ecosystem is attracting both users and capital.
Meme Coin Climbs 66% as Spot Market Inflows Top $19 Million
This trend of creating new tokens on LetsBonk has driven up the demand for BONK. The meme coin trades at $0.000023 at press time, rising 66% over the past seven days.
It has seen a steady wave of capital inflows into its spot markets, signaling strong bullish momentum. According to data from Coinglass, over $19 million has flowed into BONK spot markets in the past four days alone, with $5 million recorded on Monday.
This liquidity injection highlights growing investor interest and confidence in the token’s short-term prospects.
Notably, BONK’s BBTrend indicator has just flipped positive for the first time in 30 days, strengthening the case for a sustained rally. This shift suggests that bullish momentum may be gaining strength following a prolonged decline.
The BBTrend indicator identifies the strength and direction of a trend. When its value is negative, the market is in a bearish or consolidating phase, often characterized by low momentum and sideways movement.
However, as with BONK, a flip from negative to positive marks a bullish trend reversal. This means that the buying pressure is beginning to outweigh the selling pressure, and momentum is shifting in favor of bulls.
BONK Eyes Break Above $0.000024
At press time, BONK trades below a long-term price ceiling of $0.00024. If the uptrend continues, it could fuel a break above this resistance. A successful breach could drive BONK’s price to $0.000028.
However, a bearish shift in market sentiment would invalidate this positive outlook. If profit-taking resumes, it could drive the meme coin’s value down to $0.000020.
The post BONK Hits 7-Day High After LetsBonk Overtakes Pump.fun in Meme Coin Craze appeared first on BeInCrypto.
