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BONK Eyes Breakout as ETF Buzz, Holder Milestone, and Massive Token Burn Fuel Rally
Solana-based memecoin BONK is riding a wave of bullish momentum, spurred by speculation around a potential ETF launch and an imminent milestone that could drastically reduce its token supply.
Though BONK has eased back slightly after surging over 20% earlier this week, it remains firmly in rally mode, attracting growing attention from traders.
Over the past 24 hours into Thursday, BONK jumped 21%, ranking as the best-performing major cryptocurrency during that period. It recently traded at $0.00001673, up 1.68%, with prices ranging between $0.00001606 and $0.00001751—a volatile 9.4% intraday swing.
One key catalyst fueling this momentum is speculation about a 2x leveraged BONK ETF. Tuttle Capital Management has confirmed July 16 as the earliest possible launch date, pending regulatory approval, stoking further investor excitement.
Adding to the bullish narrative, BONK is on the verge of reaching 1 million holders. Achieving this milestone will trigger a scheduled burn of 1 trillion tokens, which could significantly cut supply and drive additional upward price pressure. BONK currently counts over 943,000 holders, moving steadily toward that threshold.
From a technical perspective, BONK has broken out of both falling wedge and symmetrical triangle patterns, signaling a shift from consolidation to potential expansion, according to CoinDesk Research’s analysis.
Analysts highlight solid support around $0.000013 and resistance near $0.000018. A decisive breakout above resistance could open the path toward $0.00003372—a potential gain of roughly 100% if bullish momentum persists.
BONK’s rally comes alongside broader growth in the Solana ecosystem, marked by increased validator participation and rising infrastructure investments. With supportive technical signals, solid fundamentals, and speculative catalysts aligning, BONK appears well-positioned for an extended breakout in the near term.
Technical Analysis Highlights
- BONK hit a peak of $0.00001751 around 01:00 UTC, accompanied by a sharp volume surge of 1.66 billion tokens, creating a high-volume resistance level.
- Between 03:00 and 12:00 UTC, BONK traded in a tight range, reflecting a period of consolidation after its rapid rally.
- Support at $0.00001627 held steady despite minor intraday pullbacks.
- At 13:52 UTC, BONK saw a swift 1.5% reversal amid significant volume of 31.9 billion tokens, reinforcing $0.0000164 as near-term support.
- Resistance is forming around $0.000017, repeatedly tested between 02:00 and 06:00 UTC.
- Broader support remains at approximately $0.000013, per macro-level chart structures.
- The token has broken out of both falling wedge and symmetrical triangle patterns—typically bullish technical setups.
- The Relative Strength Index (RSI) indicates room for further upside, showing no signs of overbought conditions at current levels.
