Fireworks For The Bonk Ecosystem
- Spot Socials
- Jul 7
- 4 min read
Written by Jason Krutzky, Chartered Meme Technician at Spot Trading.
It was a challenging week for the bulls. Wednesday and Thursday brought a surge of strength across the markets, and for a moment, it looked like we were setting up for fireworks heading into the holiday weekend. However, that momentum was quickly snuffed out on Friday, and the weekend has been relatively quiet for the major crypto names. On the meme side, there's always something popping off and this week was no different—particularly among names within the Bonk Ecosystem. We'll get into that below, but first, in other news:
With the holiday weekend winding down, we could see some renewed volatility as traders return to their desks. Let’s jump into the charts and see where things stand.
Analysis On The Majors
$BTC (-0.28%)
Bitcoin price action was constructive this week, with notable strength on Wednesday and Thursday pushing it just shy of $111,000 before pulling back ahead of the long holiday weekend. The right side of the developing Cup & Handle pattern continues to take shape, and for the most bullish scenario ahead of a proper breakout, I’m watching for continued consolidation in the upper half of the current range.
$ETH (+0.49%)
After sweeping both the highs and lows of its May range, Ethereum has returned to familiar territory—once again trading within that same range. On the broader timeframe, support is holding near the lower boundary of the ascending channel. If buyers can absorb supply within this zone, the top of the channel stands as the next key target for bulls.
$SOL (-3.64%)
This week, Solana has remained confined within an Anchored VWAP Pinch. For context, VWAP stands for Volume-Weighted Average Price, and when anchored, it represents the average price from a specific starting point. In the chart below, we see the anchored VWAP from the January high serving as resistance, while the anchored VWAP from the April low is providing support. The term "pinch" refers to price compressing between these two levels. The longer and tighter this range holds, the more potential there is for a strong move once price breaks out.
Chart Of The Week
Useless Coin has emerged as a standout within the Bonk ecosystem. Launched during the early days of Bonk’s token launchpad, Letsbonk.fun, it quickly gained traction—surging to a $40 million market cap within its first four sessions. After nearly a month of consolidation and a 90% pullback, the uptrend resumed and hasn’t looked back since. Now trading around a $300 million market cap, it’s hard to find a cleaner chart in all of crypto—and with some of the most influential KOLs backing it, momentum looks set to continue.
Fireworks For The Bonk Ecosystem
While $USELESS has stolen most of the spotlight this week, the fireworks for the Bonk ecosystem have been wide-ranging. Here are a few worth keeping on your radar:
For me, the key level was the anchored VWAP from the coin’s launch date. Price traded below it for nearly a month before finally reclaiming it last Sunday. As the saying goes, old resistance becomes new support—and that’s exactly how it played out. On Tuesday, price pulled back to test that level (blue circle on chart), held it, and has been rallying ever since. After three sessions of consolidation at all-time highs, it’s now breaking out once again.
This one has also been on an absolute tear this week—up nearly 500%, climbing from a $5 million to a $30 million market cap in just six sessions. Once again, it all came down to the anchored VWAP from the launch. As soon as price reclaimed and successfully tested that level, it took off.
Though it’s a newer name, $CRYBB is showing a constructive setup after breaking out of its ascending wedge and now consolidating just above the breakout level. With a current market cap of $17 million, it could be a candidate for rotation once $HOSICO and $IKUN complete their extensions.
KOL's To Keep On Your Radar
No matter how good the meme, when a coin is getting pushed by the right KOL (Key Opinion Leader), its odds of success increase dramatically. Here are this week's key KOLs.
BonkGuy is perhaps the most key figure in the Bonk Ecosystem and has been relentless in his support for $USELESS.
Many are attributing $IKUN's success this week to Bluntz, a well-known trader and technical analyst on CT.
Another strong proponent of the Bonk ecosystem, Kadense has shown a lot of support recently for names like $HOSICO and $CRYBB.
xStocks Now Available on Spot
xStocks tokenized equities are now live in your Spot wallet. Find them in the 'Stocks' tab, pictured below.
Developed by xStocksFi and backed 1:1 by real shares, you can now trade 60+ major U.S. stocks like Apple, Tesla, and Microsoft directly from your Spot wallet alongside your crypto. These aren't derivatives – they're real stocks that pay dividends, just tokenized for 24/7 trading.
The key advantages? No market hours and worldwide access. Trade Apple stock on Sunday, Tesla at midnight, or any of the 60+ available stocks whenever you want, wherever you want.
Your stocks live in your wallet (not a broker's custody), can be used in DeFi protocols, and are accessible globally without traditional brokerage requirements.
Jupiter Studio Launchpad Goes Live
Launched on Thursday, Jupiter Studio serves as the newest entrant in the Solana token launchpad space, backed by Jupiter - Solana's leading decentralized exchange aggregator. The platform made an explosive debut, generating over $100 million in trading volume on its first day and capturing a 15.3% market share of daily token deployments with over 6,000 tokens launched. This immediate success positioned Jupiter Studio as a serious competitor to established platforms like Pump.fun and Letsbonk.fun.
What sets Jupiter Studio apart is its focus on professional-grade customization and creator benefits. Unlike basic launchpads, Jupiter Studio offers "hyper customizable tools" including advanced anti-sniping protection, custom bonding curves, and tiered launch experiences ranging from "Play" (3K-10K USDC) to "Full Send" (1M-5M USDC).
Most notably, creators receive 50% of all swap fees, 50% of the liquidity pool after one year, and vested token supply - significantly more generous than competitors who typically offer only small percentages of trading fees.
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