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BONK price jumps nearly 20% as ETF speculation drives intense market demand
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Trading volume surges over 326 %, signaling strong buyer interest and accumulation
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Solana network growth and token utility boost BONK’s long-term visibility and appeal
BONK, the popular meme coin on the Solana network, surged nearly 20 percent in the last 24 hours. The rally comes amid renewed investor interest driven by a mix of ETF speculation and strengthening support within the Solana ecosystem.
Recently filed applications reportedly show that Tuttle Capital Management is pursuing an ETF 2x Long BONK. Although the fund has not yet been approved, the update indicates that the product might start on July 16. This has caused numerous speculations, resulting in a new rush of demand for BONK.
Other tokens to be listed under the ETF proposal are the SOL, XRP, and ADA, as well as politically informed tokens in the names of TRUMP and MELANIA. Such a broad combination is indicative of an increasingly active demand for community-affiliated tokens, and with BONK adding to this selection, it becomes a promising candidate on the market.
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BONK has now jumped to a trading price of $0.00001714, having rebounded upwards on a base of selling price of about $0.00001449. Before this breakout, strong support at $0.00001550 and another one at a price of $0.00001580 stabilized the token.
It is currently being resisted at 0.00001720, which the traders are keeping a close eye on.
Trading Volume Spikes as Technical Momentum Builds
Market data shows BONK’s trading volume has jumped over 326 percent within the same period. A volume-to-market cap ratio of 37.71 percent points to substantial accumulation and renewed interest from short-term and long-term holders alike.
Source: CoinMarketCap
In addition to market speculation, BONK’s ecosystem continues to expand. The Saga phone token redemption program ends on July 31, with over 88 percent of tokens already claimed. All unclaimed tokens will be written up to the BONK DAO for future development.
The activity of the Solana ecosystem also contributes to BONK’s popularity. With more than 350 integrations of decentralized finance and introducing new validators to the network, such as DeFi Development Corp, BONK is following the path of becoming a backbone of the Solana community.
BONK’s explosive rise reflects a powerful combination of ETF excitement and Solana’s growing support. As demand spikes, the meme coin is capturing attention across both speculative and fundamental fronts.
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