The meme coin BONK on the Solana platform is showing impressive price growth and community interest amid news of a potential ETF launch.
ETF Launch and BonkFun Popularity Surge
In the past week, BONK's price surged by 58%, making it the leading meme coin on Solana. A significant factor behind this rise was Tuttle Capital Management's announcement to launch a 2x leveraged BONK ETF, with July 16 as the possible launch date. This news injected bullish sentiment into the market. Meanwhile, the BonkFun platform, which is directly tied to the BONK ecosystem, has claimed the top spot among meme coin launch platforms, achieving a 51% market share.
New Trading Volume Records and Holder Growth
BonkFun hit a record trading volume of $402 million in a single day. The platform also achieved a 24-hour trading volume of $1.45 billion, marking the highest market interest since November 2024. The number of wallets holding BONK has surpassed 947,000, indicating a growing demand and community support. The success of the platform directly influences the demand for the BONK token.
Potential Future for BONK Analyzed
Crypto analysts note that BONK is showing strength amid an overall market decline. A prominent expert, Crypto Jack, suggests that the meme coin could be preparing for a significant move. Importantly, BONK has surpassed resistance levels on the daily chart, opening the possibility for new price highs. Key targets for the coming days are levels $0.0000255, $0.0000371, and $0.0000592.
BONK's rise highlights interest in meme coins and the opportunities presented by new initiatives and platforms. The increase in trading volumes and the number of holders could define the token's future trajectory.
