Bonk has exploded in the past few days, jumping 22% in 24โฏhours to around $0.0000175 on a whopping $550M daily volume surge . Open Interest in futures spiked 46% to $17M, paired with a strong bullish structure breakout and RSI moving above 50โclear indications of renewed momentum.
๐ฅ Whatโs Fueling the Spike?
1. ETF Speculation & Spot Inflows
Traders are positioning ahead of a proposed 2ร leveraged BONK ETF (potential launch July 16), driving heavy spot net inflows (~$1.7M today) and positive funding rates at ~0.0085% .
2. Technical Breakout
BONK recently cleared its 20โday EMA, now acting as support near $0.000014. The 1-day chart shows bullish momentum alongside rising OBV and RSIโsuggesting more upside .
3. Meme Coin Revival
As part of a broader meme resurgence, Bonk is leading Solana-based narratives, with Shiba Inu and Moodeng among peers fast picking up steam .
๐ญ What Comes Next?
Timeframe/ Outlook
Short-Term Watch for resistance at $0.000018โ$0.000019 (~50% fib retrace).
A break could trigger a rally toward $0.000020+ .
Mid-Term Bullish technicals and ETF buzz point to a potential $0.000025 breakout in Q3 .
Risk Meme coin volatility is highโfailures below $0.000016 might drag prices to $0.000012โ$0.000014 .
โ Strategic Moves for Traders
1. Entry Range: Consider long positions between $0.000016โ$0.000017 on pullbacks to EMA support.
2. Watch Funding: Continue monitoring futures OI and fundingโsustained positives confirm bullish flow.
3. Partial Profits: Set take-profits near $0.000019โ$0.000020, and trail with stop-loss below key support (EMA).
Final Take
Bonk has ignited, driven by ETF talks, technical breakouts, and meme momentum. If it holds above $0.000016, a high-probability rally toward $0.000020+ seems likely. However, stay cautiousโmeme coins can turn fast if broader sentiment shifts.
๐ฌ What do you think? Will BONK break $0.00002 this weekโor cool off? Drop your take below!
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