{"id":291302,"date":"2025-07-25T18:52:11","date_gmt":"2025-07-25T18:52:11","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/291302\/"},"modified":"2025-07-25T18:52:11","modified_gmt":"2025-07-25T18:52:11","slug":"bonk-up-158-in-july-but-can-buybacks-push-it-46-higher","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/291302\/","title":{"rendered":"BONK up 158% in July, but can buybacks push it 46% higher?"},"content":{"rendered":"

\t\t\t\t\t\t\t\tKey Takeaways<\/p>\n

BONK has burnt 500 billion tokens amid an aggressive deflationary plan that could fuel the memecoin\u2019s next phase of the uptrend. However, will the market bulls hold their ground?\u00a0<\/p>\n

BONK\u2019s<\/a> team has ramped up the memecoin\u2019s deflationary program, something that could boost its recovery on the price charts.\u00a0<\/p>\n

On 24 July, BONK burnt<\/a> 500 billion tokens based on the fees generated by its memecoin launchpad letsBonk, also known as BonkFun.\u00a0<\/p>\n

The move followed a recent announcement<\/a> that set aside 1% for a buyback program. It stated,\u00a0<\/p>\n

\n

\u201cStarting today, 1% of BONKfun\u2019s total revenue will be reassigned from our marketing fund into buying back the top pairs within the BONK ecosystem.\u201d<\/p>\n<\/blockquote>\n

\"letsBONK\"<\/a><\/p>\n

Source: LetsBonk<\/p>\n

The project<\/a> had a total revenue of 217k SOL (Worth about $39 million) on 24 June. The 500 billion tokens burnt were worth $16.7 million, mirroring the 50% revenue target for buy\/burn rates.\u00a0<\/p>\n

Chipping from the marketing fund to further reduce supply could be the flywheel for the memecoin if broader market sentiment remains positive.\u00a0<\/p>\n

BONK consolidates its July gains \u2013 What\u2019s next?<\/p>\n

On the markets front, BONK\u2019s positioning appeared to be slightly bullish at press time. <\/p>\n

In fact, according to CoinGlass, top Binance traders who were bullish on the memecoin rose from 56% to 60% in just 24 hours.\u00a0<\/p>\n

\"letsBonk\"<\/a><\/p>\n

Source: CoinGlass<\/p>\n

This meant that leveraged bulls expected a bigger rally, despite the memecoin surging by over 158% in July.\u00a0<\/p>\n

From a price chart\u2019s perspective, the prevailing cool-off has been happening at a key area around the Fibonacci retracement level. Notably, BONK has been consolidating its recent gains too, despite a spike in profit-taking<\/a>.\u00a0<\/p>\n

However, bulls can only have a market edge if they turn the 1.618 Fib level ($0.000036) into support. Securing the level as the next springboard could trigger another 46% upswing to $0.000052.\u00a0<\/p>\n

\"letsBONK\"<\/a><\/p>\n

Source: BONK\/USDT, TradingView\u00a0<\/p>\n

Otherwise, a pullback to $0.000025 and May\u2019s high could be feasible if the bulls falter. <\/p>\n

Still, these could be the buying opportunities for spot players if the broader market sentiment remains positive ahead of September\u2019s expected Fed rate cuts.\u00a0<\/p>\n

A break below May\u2019s high would dent the market structure and embolden short sellers.\u00a0<\/p>\n

Overall, BONK\u2019s aggressive deflationary program could be a crucial catalyst for the memecoin\u2019s next leg of the rally. However, only if the broader market sentiment remains constructive and positive.\u00a0<\/p>\n

\t\t\t\t\t\t\t\t\t\t\tNext: Ethereum: $160M in shorts get wiped out \u2013 Will ETH\u2019s rally last?<\/a>\t\t\t\t\t\t\t\t\t\t<\/p>\n","protected":false},"excerpt":{"rendered":"Key Takeaways BONK has burnt 500 billion tokens amid an aggressive deflationary plan that could fuel the memecoin\u2019s…\n","protected":false},"author":2,"featured_media":291303,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[52,51,16,15],"class_list":{"0":"post-291302","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-ambcrypto","9":"tag-business","10":"tag-uk","11":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114915386658462536","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/291302","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=291302"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/291302\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/291303"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=291302"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=291302"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=291302"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}