Bonk launches ‘Kill-to-Earn’ FPS game on Solana

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 Bonk for 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.