BONK Climbs Nearly 9% on Volume Surge and Ecosystem Growth
BONK rallied 8.7% over the past 24 hours, reaching a peak of $0.0000235 before closing near $0.00002215. Trading volume rose sharply to 2.27 trillion tokens, a 67% jump from the daily average, reflecting increased activity from both retail and institutional investors.
The buzz around a potential 2x leveraged BONK ETF from Tuttle Capital is fueling optimism, alongside growing enthusiasm for Solana’s recently launched ETF. Yet, the token’s gains are also supported by strong ecosystem fundamentals.
Leading the charge is BONKbot, now the biggest Telegram-based trading bot by volume, which has generated $4.35 million in monthly fees—outperforming competitors and providing a steady revenue stream for the community.
Adding to the momentum, a recent BONK hackathon awarded $200,000 in prizes, encouraging innovation and developer participation.
On the technical side, BONK broke out of a month-long downtrend, holding support at $0.0000218 and briefly pushing above $0.0000230 before a slight pullback, according to CoinDesk Research. With a planned 1 trillion token burn and expanding use cases ahead, BONK looks positioned for continued growth.
Technical Highlights:
- BONK traded within an 8.7% range from $0.0000218 to $0.0000235 between July 6, 15:00 UTC and July 7, 14:00 UTC.
- Volume surged 67% above average, reaching 2.27 trillion tokens, confirming strong market interest.
- Support remained firm at $0.0000218 throughout the session.
- Price peaked at 10:00 UTC, briefly holding $0.0000230 as new support before pulling back.
- Profit-taking pushed the price down 2.7% in the final hour, from $0.0000228 to $0.0000222.
- Volume spikes of 42.3 billion and 145 billion at 13:26 and 13:59 UTC, respectively, triggered a technical pullback.
- The $0.0000225 support level was breached and now acts as resistance.
