Bonk (BONK) recorded a 2% increase on Wednesday, marking its third consecutive session of gains this week. The BONK.fun platform has launched a $7,000 daily reward program to promote the launch of new tokens in Balanced Mode. Technically, BONK is showing clear signs of recovery from a key support zone, with a target to move toward the 50-day Exponential Moving Average (EMA).
BONK.fun’s new program aims to revive “bagworking” in the meme coin community
BONK.fun recently introduced a new incentive program called “BONKfun Bagwork Bounties” through a post on X on Tuesday. The platform will award $7,000 daily for a week to seven new meme coin communities built on the Solana ecosystem.
This initiative aims to revive the “bagworking” culture within the meme coin community—a highly viral marketing strategy that supports spot prices and stimulates demand from retail investors. The program focuses on evaluating meme coins with a market cap of $100,000 or more, based on core factors such as team capability, content quality, growth rate, and on-chain activity.
BONK recovers but still faces long-term downward pressure
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