The meme coin BONK has once again attracted traders' attention due to a sharp price increase and rising trading activity. Let’s explore the reasons and factors contributing to this movement.
Reasons Behind the Price Surge
BONK has surged nearly 15% in one day, reaching a price of about $0.00002491. Trade volume has jumped by 117%, totaling over $1.3 billion in just 24 hours. The main focus of traders has been drawn due to speculation surrounding a proposed 2x leveraged BONK ETF that could launch on July 16.
Support for Price Movement
The expansion of the BONK ecosystem is also playing a significant role in supporting the price move. The LetsBonk platform, the native launchpad of the project, now holds a 55% market share of meme coins on Solana, redirecting capital away from competitors. High liquidity metrics further confirm steady demand for BONK.
Price Trend Structure
The 4-hour chart shows that BONK maintains its bullish momentum, printing successive higher highs and higher lows. Resistance is noted in the $0.0000260–$0.0000262 region, where the price was rejected on July 12. Key support rests at $0.0000228–$0.0000230; a breakdown below could see the price dropping to $0.0000210.
The return of BONK to the market highlights a high level of interest from traders. The coming days will determine whether the price can remain above key support levels.
