Will the puppy $BONK keep rising like foam or will volatility bring it down? 🚀🐕
What's up, my people! 🔥 Have you noticed the stir that BONK is causing? That puppy is out of control, and it's no wonder! In just 24 hours, it shot up by 8.6%! And the truth is there's some juicy gossip behind all this.
Imagine that the green bill is coming to BONK from various sides. First, there's talk of a possible ETF, yes, an Exchange-Traded Fund! It turns out that some buddies from Tuttle Capital dropped the idea of a 2x leveraged BONK ETF. That's like pouring gasoline on the rocket, man! ⛽️🚀 If that gets approved, things are getting serious. This is coming hot after the first ETF of Solana (the blockchain where BONK lives) hit the market on July 2nd, and that gave a boost to everything that smells like SOL! The trading volume of BONK skyrocketed by 30.7%, reaching 656 million dollars, which means that people, the crowd!, are getting in big time.
But it doesn't stop there. There's also a supply shock in the air. Remember that goal of 1 million holders? Well, we're close! And when that number is reached, it's expected that 1 trillion tokens will be burned! 🔥 That's a lot, my people, and when tokens are burned, the supply decreases and, what happens? The price tends to go up! The BONK Foundation has already gotten to work and announced that 35% of the fees from their platform Bonk.fun (which already has 25% of the memecoin market in Solana, not bad!) will be used to buy back and burn tokens. Pure strategy to maintain value!
