BONK July strong Rebound 160%, ecological catalysis boosts Q3 bull run expectations

BONK token burning plan and user growth go hand in hand According to Solcan data, the number of addresses holding BONK has reached 958,362, close to the team's set trigger condition of 1 million addresses for the burning of 1 trillion BONK. Although the current circulating total is as high as 887 trillion, the burning ratio is still limited, but its long-term deflationary expectations are expected to enhance the intrinsic value of the Token.

BonkFun platform outperforms PumpFun, revenue supports token burning plan Since the launch of the memecoin issuance platform BonkFun in April, the platform has accumulated an income of 135,600 SOL, of which 68,000 SOL (approximately 11 million USD) will be used for token burning of BONK. Based on the current price, it is expected to burn about 32.52 billion BONK, although it has not reached the 100 billion target, it provides positive support for market confidence. Recently, BonkFun's performance has even surpassed the previously leading PumpFun, further strengthening the ecological influence and price performance of BONK.

BONK staking SOL product attracts institutional attention The liquidity staking product "BONK Staked SOL" launched by the BONK team has recently seen a rapid rise, increasing from 64,000 SOL to over 115,000 SOL, indicating market recognition of its staking yield mechanism. The increased institutional participation also reflects market confidence in the long-term sustainability of the project.

The technical aspect is approaching a key range, if the support holds, an upward movement can be expected Draw Fibonacci retracement from the high in November 2024 to the low in April 2025, the current BONK price has approached the 50% retracement level ($0.0000035). The daily RSI has entered the overbought zone, and a pullback may occur in the short term, but if it successfully stabilizes at this key support area, it will form a technical basis for further rise.

If the bulls exert strength, the target price levels above are $0.000042 and $0.00005, corresponding to potential rises of 18% and 43%, respectively. Conversely, if it falls below the May high of $0.00002 (cyan support), the bullish structure will be broken, and the bears may regain dominance.

Conclusion BONK has shown strong performance at the beginning of Q3 thanks to multiple catalysts such as the token burning mechanism, platform income, and rise in staking. Although short-term technical indicators show signs of overheating, as long as it maintains key support, the project's long-term fundamentals still provide support. Investors should closely monitor address growth, BonkFun income distribution, and the scale of SOL staking as criteria for determining trend continuation and potential entry opportunities.