BONK Sets Sights on Breakout as ETF Speculation, Milestone Holder Count, and Token Burn Drive Momentum
The Solana-based memecoin BONK is building strong upward momentum, energized by talk of a possible ETF launch and an upcoming token burn that could significantly reduce its circulating supply.
Although BONK has eased slightly after climbing over 20% earlier this week, the token remains firmly in rally mode and continues to attract increased trading interest.
In the past 24 hours through Thursday, BONK rose by 21%, becoming the top-performing major cryptocurrency in that window. The token was last trading at $0.00001673, up 1.68% for the day, with prices fluctuating between $0.00001606 and $0.00001751—a daily swing of around 9.4%.
One significant driver behind BONK’s recent surge is the buzz surrounding a potential 2x leveraged BONK ETF. Tuttle Capital Management confirmed that July 16 is the earliest possible launch date, pending regulatory approval, fueling further investor excitement.
Adding to the optimism, BONK is approaching a major milestone of one million holders. Hitting this target will automatically trigger a burn of one trillion tokens, which could reduce supply and potentially boost prices further. BONK currently boasts more than 943,000 holders and is steadily moving toward this goal.
Technically, BONK has broken out of both falling wedge and symmetrical triangle chart formations, signaling the end of its consolidation phase and the potential for further upward movement, according to CoinDesk Research’s analysis.
Analysts identify solid support around $0.000013 and resistance near $0.000018. A decisive move above resistance could propel BONK toward $0.00003372—a potential 100% gain if the bullish momentum persists.
BONK’s performance is happening alongside broader growth in the Solana ecosystem, where increased validator participation and infrastructure investment are reinforcing network strength. With technical signals, solid fundamentals, and speculative catalysts converging, BONK appears positioned for a possible sustained breakout soon.
Technical Analysis Highlights
- BONK peaked at $0.00001751 around 01:00 UTC, accompanied by a volume spike of 1.66 billion tokens, creating a resistance level at that price.
- Between 03:00 and 12:00 UTC, BONK traded in a tight band, suggesting a period of consolidation after its rapid rally.
- Support held at $0.00001627 despite modest intraday dips.
- At 13:52 UTC, BONK saw a sharp 1.5% rebound with significant volume of 31.9 billion tokens, reinforcing $0.0000164 as short-term support.
- Resistance near $0.000017 was repeatedly tested between 02:00 and 06:00 UTC.
- Broader support remains anchored around $0.000013, based on higher timeframe chart structures.
- The token’s breakout from both falling wedge and symmetrical triangle patterns signals a bullish technical outlook.
- The Relative Strength Index (RSI) indicates that BONK still has room to climb, with no signs of overbought conditions at current levels.
