BONK up 158% in July, but can buybacks push it 46% higher?

Key Points

1. BONK's price increased by 158% in July, driven by its deflationary program and token burns.

2. On 24 July, BONK burnt 500 billion tokens worth $16.7 million, funded by 1% of revenue from its launchpad BonkFun.

3. The project had a total revenue of 217k SOL (approximately $39 million) on 24 June.

4. Market positioning for BONK is slightly bullish, with Binance traders' bullish sentiment rising from 56% to 60% in 24 hours.

5. Future price movement depends on breaking the 1.618 Fib level ($0.000036) for a 46% upswing or facing a pullback to $0.000025 if support fails.