BONK price rallies as lets.BONK.fun hits milestone

• BONK price is up 38% this past week and looking for a bullish breakout.
• LetsBONK.fun’s revenue dashboard shows growth amid rising demand.
• Market conditions may align with this to catapult BONK to a new high.

The price of BONK, a meme token on the Solana blockchain, has shown significant movement as the decentralized meme launchpad LetsBONK.fun attracts attention.

BONK’s price has gained by more than 7%, trading to highs of $0.000025 in the past 24 hours, with this coming as daily volume hit $866 million.

Notably, Bonk has rocketed over the past week, adding about 38% to the token’s value.

This means, despite recent turbulence, which saw BONK dip after hitting its all-time high of $0.000059 in November, bulls are taking steps towards an upward trajectory.

LetsBONK.fun’s launch and latest milestones are bolstering the memecoin’s performance.

LetsBONK.fun revenue dashboard launch

A key driver of BONK’s bullish sentiment is the launch of the letsBONK.fun revenue dashboard, which has spotlighted the platform’s rapid success.

Since its debut 18 days ago, letsBONK.fun, a token issuance platform built by the BONK community, has generated 18,273 SOL. That’s about $3.3 million. The dashboard provides transparency into revenue allocation. It details how funds are used to buy and burn $BONK tokens, while also supporting the Solana network’s security.

The BONK team celebrated this milestone on X, stating,

“Awesome to see success and numbers from @bonk_fun’s first couple weeks. Check out the growth and how it buys and burns $BONK while securing the Solana network. It’s the best place to launch a memecoin onchain.”

One of the main catalysts of BONK price is this initiative’s  reduction of BONK’s circulating supply. LetsBonk.fun also strengthens BONK’s integration within Solana’s decentralized ecosystem, a scenario likely to fuel further optimism among holders.

BONK price prediction

The launch of letsBONK.fun has coincided with a 38% surge in BONK’s value over the past week.

Per CoinMarketCap, the memecoin has seen an 80% surge over the past month.

As well as overall market enthusiasm, the uptick in BONK price aligns with increased futures trading activity.

Details on Coinglass shows a surge of 7% in open interest for BONK derivatives. OI in the memecoin’s futures stands at over $31 million.

LetsBONK.fun’s innovative meme tool and now the revenue dashboard has the community excited. As users flock onto the platform to boost demand, price looks set to explode higher.

The token’s technical picture suggests a return to upward momentum.

The daily RSI at 55 suggests bulls have room to run. Meanwhile, the MACD indicator shows a bullish crossover.

As letsBONK.fun attracts more users, BONK stands to benefit from heightened DeFi engagement, potentially driving further price gains.

The broader market trends, which has cryptocurrencies poised for upside growth, will help BONK higher.

The post BONK price rallies as lets.BONK.fun hits milestone appeared first on CoinJournal.