Key Takeaways
BONK has rallied by over 160% thanks to massive growth in BonkFun and SOL staking demand. Will the upcoming 1 trillion token burns fuel the momentum?
BONK has seen a strong start to Q3 lately amid massive market interest in its ecosystem. In fact, it has rallied by 160% in the first half of July, reversing nearly all of 2025’s losses.
And yet, underneath the rally, the catalysts driving the memecoin go beyond just hype or FOMO.
BONK – Adoption and burns
BONK’s team plans to burn 1 trillion tokens if overall holders hit 1 million. According to Solcan, there were 958,362 users at the time of writing.
While the removal won’t do much since there are 88.7 trillion BONK tokens in circulation, the deflationary plan could improve the token’s value in the long run.
Since unveiling its memecoin launchpad platform, BonkFun, in April, has seen massive traction. In fact, the team now holds 135.6K SOL in cumulative revenues, with half of it (68K SOL or $11 million) meant for token burns.
Source: LetsBonk
Based on the press time price, this would burn about 325.2 billion BONK tokens, less than the 1 trillion target.
However, the BonkFun traction has fueled Q3’s rally, too. Notably, the platform surpassed even PumpFun recently and mirrored BONK’s strength on the price charts.
Institutions jump on BONK SOL staking
Beyond the memecoin launchpad, the team’s BONK staked SOL, a liquid staking offering that allows users to earn rewards, saw an uptick recently.
From 64K SOL to over 115K SOL in a few weeks, the growth highlighted strong investor interest in its staking provision.
Source: DeFiLlama
Collectively, these catalysts and the ecosystem growth have boosted the native token – BONK.
When plotted from its November 2024 peak and April 2025’s lows, the press time rally appeared to be nearly 50% away from last year’s peak.
Source: BONK/USDT, TradingView
Technical indicators showed strong bullish leaning with the daily RSI crossing into the overbought zone. While this could signal a likely cool-off in the near term, reclaiming the 50% Fib level ($0.0000035, red zone) as support could confirm further uptrend.
If bulls succeed, the immediate targets would be $0.000042 and $0.00005, offering a potential 18%-43% gain if hit.
However, any pullback that stays above May’s peak at $0.00002 (cyan) could still be a buying opportunity if the bullish catalysts persist. On the contrary, a drop below $0.00002 would dent the bullish structure, invalidate the above thesis, and embolden short sellers.
