Crypto Rally Boosts BONK to the Forefront of Memecoins as Holder Count Heads Toward 1 Million

The Solana-based memecoin BONK has seen explosive activity, with trading volumes soaring to 2.9 trillion amid growing speculation about a possible exchange-traded fund (ETF) launch and an expected token burn.

With bitcoin trading near a new record high of $108,018.70, BONK has emerged as a leading player in the altcoin space, outperforming many peers during the broader crypto rally.

BONK’s recent gains reflect a surge in investor enthusiasm for riskier crypto assets, especially after bitcoin pushed past the significant $110,000 mark, fueling broader market gains.

Analysts remain optimistic about BONK’s potential, highlighting room for further upside in the near term.

Contributing to BONK’s bullish momentum, the BONK Foundation’s platform LetsBONK.fun recently overtook competitor Pump.fun in daily trading volume, reporting a 126% increase. This milestone is significant because half of LetsBONK.fun’s revenue is dedicated to buying and burning BONK tokens, adding upward pressure in an already enthusiastic market. Investors are also closely watching plans to burn one trillion BONK tokens once the project reaches one million holders.

Further stoking excitement, Tuttle Capital Management has confirmed that its lineup of leveraged crypto ETFs—including a 2× BONK ETF—could launch as early as 16 July, boosting sentiment even more.

Technical Overview

• From 2 July at 16:00 UTC to 3 July at 15:00 UTC, BONK-USD moved from $0.0000147 to as high as $0.0000175, a 10.4% trading range, according to CoinDesk Research.
• A significant surge in volume to 2.9 trillion shortly after midnight on 3 July established strong support around $0.0000157. Vigorous buying at $0.0000168 during the 05:00 UTC hour propelled prices higher, though some profit-taking tempered gains later in the session.
• During the final hour of trading on 3 July, BONK-USD experienced volatility, dipping from $0.00001666 to a session low of $0.00001619 before recovering to $0.00001624.
• A massive volume spike of 86.9 trillion at 15:35 coincided with the session low, helping secure a key support zone. The token then rebounded, forming an upward trend supported by rising volumes, particularly at 15:49, when a 22.5 trillion surge lifted prices 2.7% from the day’s low.