The memecoin is down 13% over the month, losing its $2 trillion market cap. In July, it spiked to $0.000040, bouncing back to its Q1 levels. With its RSI topping out, it created a classic reset setup.<\/p>\n
However, at a price level of $0.000020, BONK gave up 50% of its value in under a month. In fact, it hit its fourth lower low, keeping the market structure bearish with no meaningful accumulation and invalidating the reset thesis.<\/p>\n
Source: TradingView (BONK\/USDT)<\/p>\n To put it simply, BONK\u2019s monthly dip doesn\u2019t look like a \u201cbuy the dip\u201d setup. Instead, it could allude to waning investor conviction, despite the world\u2019s largest memecoin Dogecoin [DOGE]<\/a> up by 4% in a month.\u00a0<\/p>\n This means that BONK\u2019s pullback isn\u2019t just a technical blip, but a shift in sentiment. Put simply, FOMO is turning into profit-taking as holders dump into thin bullish pressure.\u00a0<\/p>\n However, what\u2019s driving this shift? Well, according to AMBCrypto, it looks like devs are aware and pursuing a strategic fix to address the liquidity drain.<\/p>\n BONK slides as Pump.fun reclaims dominance<\/p>\n After a year of BONK_fun dominance, Pump.fun is clawing back control.<\/p>\n On 6 August, Pump.fun led on the 24-hour trading volume front, hitting $100.7 million compared to BONK_fun\u2019s $70.6 million. In fact, on the same day, Pump.fun launched 16,000 tokens, surpassing BONK_fun\u2019s 11,400.<\/p>\n Additionally, a $33 million PUMP buyback<\/a> sparked a 20% token pop. The result? Pump.fun now dominates 90% of Solana\u2019s memecoin launchpad volume. On the contrary, Bonk_fun slipped to fourth with just 0.74% market share.<\/p>\n Source: SolanaFloor<\/p>\n Traders are rotating back to Pump.fun for token drops, snapping Bonk_fun\u2019s long streak. That streak had powered BONK\u2019s 80% July spike to $0.000040.<\/p>\n Alas, the market structure is now shifting. Bonk_fun is rolling out a Points Tab<\/a> to boost trader engagement and reclaim volume, rewarding token drops along the way.<\/p>\n Clearly, Bonk_fun is trying to push back on Pump.fun. However, Pump.fun is still hogging liquidity. Hence, while BONK\u2019s Points Tab may be promising, it hasn\u2019t shifted market structure yet.<\/p>\n \t\t\t\t\t\t\t\t\t\t\tPrevious: $64.4M Bitcoin sale stirs fear of short-term BTC price dip \u2013 Explained<\/a>\t\t\t\t\t\t\t\t\t\t<\/p>\n![\"BONK\"](\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/08\/BONKUSDT_2025-08-19_18-10-49.png\"\/)
<\/a><\/p>\n![\"Pump\"](\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/08\/GynvpxFWoAAb_Dl.png\"\/)
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