BONK, the Solana-based meme token, recorded a 20.43% surge in its trading volume, while its price rose by more than 20%, hitting a daily high of $0.00001864 before stabilizing around $0.00001855 at the time of writing.
Although the token remains 68.71% below its all-time high of $0.00005916, momentum is building rapidly for the fifth-largest meme coin, as per CoinMarketCap data.
Fundamentals Align for Liftoff
Two major developments are driving the bullish sentiment around BONK. First, there is mounting speculation surrounding a 2x leveraged BONK ETF, with Tuttle Capital Management confirming that the product could launch as early as July 16, pending regulatory approval.
Such a listing would mark a milestone for meme tokens, opening up BONK to a broader class of institutional and speculative investors.
đ¨ @bonk_inu BONK IS BACK IN BEAST MODE đ¨
⢠+8% in 24hrs only
⢠Nearing 1M holders â triggers 1T token burn
⢠2x BONK ETF could launch July 16
⢠https://t.co/bMgrr6zUxh just flipped https://t.co/jFj0mLD53Z in volume
⢠50% of platform revenue = BONK buybacks đĽ
WhatâŚ
â Justin Wu Ď (@hackapreneur) July 3, 2025
Secondly, BONK is approaching a pivotal community milestone: 1 million holders. Once that threshold is crossed, a massive 1 trillion token burn is expected to be triggered.
With over 943,000 holders currently, this burn event is imminent and could drastically reduce the circulating supply â a bullish signal that might intensify upside pressure.
On the other hand, analyst Unipcs shared bullish thoughts on BONK, highlighting the tokenâs listing on major platforms, including Robinhood, Upbit, Binance, and Coinbase.
Moreover, BonkFun, the growing ecosystem project, is rapidly expanding its market share. With projections of tens of millions of dollars in annual BONK buy-and-burns from protocol fees alone, the deflationary pressure may become even more pronounced.
âI think BONK is a beachball underwater right now, Â itâs only a matter of time before it makes an aggressive move to the upside,â said Unipcs.
Breakout Patterns Confirm Bullish Structure
As per the daily chart, after reclaiming the 0.618 retracement level at $0.00001807, BONK is now flirting with a move above immediate resistance at $0.000018, a zone that has historically capped upward momentum.
A daily close above this level could send BONK flying toward the 1.618 Fib extension at $0.00003474, effectively doubling its current value.
Meanwhile, the BoP is currently at 0.63, reflecting a strong bias toward buyers. The RSI is hovering around 64.52, remaining below the overbought threshold of 70, indicating thereâs still room for upward movement.
BONK Momentum Indicators | Source: TradingView
Finally, the MACD indicator shows that the MACD line has crossed above the signal line and flipped into positive territory, a classic bullish signal.
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