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Solana’s top meme coin Bonk has officially entered the GameFi arena with the launch of Bonk Arena.
Bonk ($BONK) announced the official launch on a June 2 post on X. Bonk Arena, a fast-paced, kill-to-earn shooter game, was developed by Bravo Ready, the creators of the Solana-based extraction game BR1: Infinite. Now available on web browsers and the Phantom Wallet mobile app, the game is Bonk’s first officially licensed gaming product and a significant step toward increasing the utility of its ecosystem.
Players must pay 10,000 $BONK, about $0.17, to enter Bonk Arena, which uses a “pay-to-spawn, win-to-earn” strategy. After defeating opponents, players get their initial investment back, minus a variable service fee that ranges from 0% to 10%. The Bonk team will give early adopters extra incentives from a $10,000 $BONK reward pool during the first 30 days.
The game features top-down pixel-art aesthetics, unlockable characters, and NFT loot boxes, with future updates promising new content. Half of all revenue will be directed to $BONK token burns, ecosystem rewards, and Bonkfor Paws, the project’s animal-focused charity. The remaining 50% will be used to buy back the READY token, as part of the agreement with Real Money Gaming.
$BONK seems to have gained new attention as a result of the launch. Over the last day, the token has increased by 5%, and trading volume has risen by almost 40% to exceed $160 million.
Coinglass data shows that while derivatives volume increased 20% to $42.76 million, open interest fell 7%. This signals that even though more traders are entering the market, some might be taking profits or delaying directional bets for the time being.
From a technical perspective, $BONK is still struggling to break past resistance around $0.0000195. At 43, the relative strength index indicates neutral momentum with a slight bearish tilt.
The downward pressure is further supported by the fact that $BONK remains below its significant short- and mid-term moving averages, such as the 10, 20, and 50-day MAs. Bollinger Bands show the price hugging the lower band, which is frequently a sign of a bounce or an imminent breakdown.
A bullish reversal would require $BONK to reclaim levels above $0.0000195 and flip several moving averages into support. In that case, a move toward May’s highs could follow. But if the price falls below the $0.000018 zone, downside risk opens up toward the $0.000015 area, where the 100-day simple moving average sits.
For now, the game launch hype may keep interest high, but the chart suggests $BONK needs stronger momentum to decisively shift sentiment in its favor.