BONK Aims for Breakout with ETF Chatter and Burn Events Powering a New Rally

BONK Poised for Breakout Amid ETF Hype, Holder Growth, and Planned Token Burn

The Solana-based memecoin BONK is showing strong upward momentum, fueled by growing excitement over a possible ETF launch and anticipation of a significant reduction in token supply due to a scheduled burn.

While BONK has dipped slightly following a surge of over 20% earlier this week, it remains firmly in rally territory, continuing to attract investor attention.

In the 24-hour period leading up to Thursday, BONK climbed 21%, making it the best-performing major cryptocurrency in that timeframe. Recently, BONK traded at $0.00001673, up 1.68% for the day, with price fluctuations ranging from $0.00001606 to $0.00001751—a daily volatility of around 9.4%.

A key factor driving BONK’s momentum is speculation about a 2x leveraged BONK ETF. Tuttle Capital Management has confirmed that July 16 is the earliest possible date for launching the ETF, pending regulatory approval—a development that has further energized traders.

Adding to the bullish sentiment, BONK is approaching the milestone of reaching one million holders. Achieving this milestone would automatically trigger a burn of one trillion tokens, potentially reducing supply and fueling further price gains. BONK currently has over 943,000 holders and continues to progress toward this goal.

From a technical perspective, BONK has recently broken out of both falling wedge and symmetrical triangle patterns, suggesting the token has shifted out of a consolidation phase and could see further upward moves, according to CoinDesk Research’s analysis.

Analysts highlight key support near $0.000013 and resistance around $0.000018. A strong breakout above resistance could propel BONK toward the $0.00003372 mark—a potential doubling in value if buying momentum persists.

BONK’s performance comes alongside broader strength in the Solana ecosystem, driven by increasing validator participation and new infrastructure developments. With technical indicators, solid fundamentals, and speculative buzz aligning, BONK appears well-positioned for a sustained breakout in the near future.

Technical Analysis Highlights

• BONK hit a high of $0.00001751 around 01:00 UTC, accompanied by a spike in trading volume to 1.66 billion tokens, creating a significant resistance level.
• Between 03:00 and 12:00 UTC, BONK traded within a narrow range, indicating a consolidation period following its sharp rise.
• Support held firm at $0.00001627 despite small intraday declines.
• At 13:52 UTC, BONK saw a quick 1.5% rebound on substantial volume of 31.9 billion tokens, reinforcing support around $0.0000164.
• Resistance around $0.000017 has been tested multiple times between 02:00 and 06:00 UTC.
• Broader support remains near $0.000013, as indicated by higher timeframe chart structures.
• The token’s breakout from both falling wedge and symmetrical triangle patterns points to a bullish technical setup.
• The Relative Strength Index (RSI) suggests there’s still room for additional price gains, with no overbought signals at current levels.