BONK Slides as Pump.fun Reclaims Solana Launchpad Lead
BONK lost its dominance on Solana’s memecoin launchpad as Pump.fun reclaimed a leading position. Following an 80% surge in July, BONK has dipped 13%, erasing half its value to $0.00002 and invalidating the bullish reset setup. The pullback reflects waning investor conviction and profit-taking, not a clear buy-the-dip opportunity.
On August 6, Pump.fun outpaced Bonk_fun with $100.7 million in 24-hour volume versus BONK_fun’s $70.6 million, launching 16,000 tokens compared to BONK_fun’s 11,400. A $33 million PUMP token buyback sparked a 20% price pop. Pump.fun now commands 90% of Solana’s memecoin launchpad volume, while Bonk_fun’s share sank to 0.74%.
In response, Bonk_fun has introduced a Points Tab reward system to boost trader engagement and reclaim liquidity. However, it has yet to shift the bearish market structure. Traders should monitor BONK’s sentiment, platform volumes, and the effectiveness of Bonk_fun’s incentives, as launchpad dominance could drive short-term price action and liquidity flow.
Bearish
BONK’s 13% monthly decline, bearish RSI setup, and 50% value loss highlight waning investor conviction and profit-taking, not a buying opportunity. The rapid shift of 90% of Solana launchpad volume from Bonk_fun to Pump.fun underscores a liquidity drain and platform dominance effect. Historical memecoin cycles show that launchpad leadership drives token momentum; unless Bonk_fun’s Points Tab sustains engagement and liquidity, BONK may face continued short-term downside. Long term, balanced competition is needed to restore volume and sentiment, but current market structure remains bearish.