- BONK’s price surged nearly 20% in the last 24 hours.
- Trading volume exploded by over 315%, signaling strong buyer interest.
- A potential 2x Long BONK ETF from Tuttle Capital could launch by July 16.
The Solana-based meme coin Bonk (BONK) is soaring today, with its price jumping nearly 20% in the last 24 hours. This sharp rally is not random; it’s fueled by a potent combination of speculative ETF hype, bullish technical breakouts, and strengthening fundamentals within the Solana network.
The move answers the key question traders are asking today: “Why is BONK’s price up?” The answer points to a convergence of factors that suggest a growing appetite for structured exposure to high-profile meme coins.
ETF Filing Sparks Speculative Demand
A primary catalyst for the rally is a procedural update from Tuttle Capital Management regarding its proposed 2x Long BONK ETF. While the product is not yet approved, a recent filing specified that the exchange-traded fund could potentially go live as soon as July 16.
Related: BONK Leads Altrank List with 66.67% Weekly Gain, Followed by Monero and Sei
Besides BONK, the proposed ETF suite includes similar funds for tokens like SOL, XRP, ADA, and even politically-themed assets such as TRUMP and MELANIA. This mix suggests growing interest in niche tokens with community-driven narratives, and BONK fits that bill perfectly.
BONK Trading Volume Explodes by 315%
BONK as press time trades at $0.00001714, up 19.85% on the day. The price broke out after consolidating around the $0.00001449 support level. Minor pullbacks at $0.00001550 and $0.00001580 helped form a solid base before the latest rally.
Currently, BONK is testing resistance at $0.00001720. If it clears this level with strong volume, a price discovery phase could follow. Conversely, failure to break through may trigger a short-term pullback to support levels below $0.00001600.
Notably, BONK’s trading volume is up more than 315%, signaling strong interest from buyers. Its volume-to-market cap ratio of 37.71% further highlights aggressive accumulation.
Related: Bonk (BONK) Price Prediction 2025–2030: Will the Meme Coin Sustain Its Rally?
On-Chain Progress and Token Supply Dynamics
Beyond market speculation, BONK’s ecosystem is evolving. The Saga phone token redemption program will end on July 31, with over 88% of the tokens already claimed. Unused tokens will revert to the BONK DAO, which plans to use them for future ecosystem development.
Additionally, Solana’s expanding infrastructure has benefited BONK. With over 350 DeFi integrations and new validators like DeFi Development Corp joining the network, token visibility continues to grow. Most BONK tokens are already in circulation, which lowers inflation risks and appeals to long-term holders.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
