- BONK dropped 50% in one month, confirming a bearish market structure.
- Pump.fun holds 91.8% Solana market share, eclipsing Bonk_fun activity.
- Bonk_fun introduced Points Tab rewards, but liquidity remains with Pump.fun.
BONK’s July rally has reversed sharply. After gaining 80% last month, the memecoin has slipped 13% in August. Its price has dropped to $0.0000219, erasing much of July’s momentum. Meanwhile, Pump.fun has overtaken Bonk_fun in Solana’s launchpad race, shifting market sentiment.
BONK loses steam after July peak
In July, BONK surged to $0.000040, climbing back to its Q1 range. Analysts described the move as a reset pattern, with its Relative Strength Index showing overbought levels. Traders expected accumulation to follow, but that outlook has faded.
Within weeks, BONK lost half its value, hitting $0.0000219. The token formed its fourth lower low in under a month, confirming a bearish structure on the daily chart.
According to TradingView data, this decline points to weaker investor conviction. While Dogecoin rose 4% over the same month, BONK’s pullback reflects a different trend.
Instead of “buying the dip,” holders appear to be locking in profits. Analysts said that early FOMO has now shifted toward caution, with sellers outweighing bullish interest.
Pump.fun reclaims Solana launchpad dominance
BONK’s weakening run is also tied to a change in Solana’s launchpad activity. Bonk_fun had long dominated token launches, fueling BONK’s July strength. But that dominance has now been broken.
On 6 August, Pump.fun logged $100.7 million in 24-hour trading volume compared to Bonk_fun’s $70.6 million. Pump.fun also launched 16,000 tokens that day, surpassing Bonk_fun’s 11,400. A $33 million buyback further boosted Pump.fun’s token price by 20%.
Fresh data from SolanaFloor highlights the shift. Pump.fun now controls 91.8% of Solana’s launchpad market share, with $325 million in daily volume and 213,000 traders. Bonk_fun has slipped to fourth place with a 0.74% share, recording only $2.64 million in volume and 8,380 traders.
Developers behind BONK are responding with a Points Tab designed to reward token drops and revive engagement. The move aims to rebuild trading activity, but analysts note Pump.fun still commands liquidity. BONK’s July spike was tied to Bonk_fun’s momentum, and the loss of that lead has weakened support for the token.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
