ETF Excitement and Burn Mechanics Ignite Fresh Rally as BONK Looks to Break Higher

BONK Targets Breakout as ETF Speculation, Holder Milestone, and Token Burn Drive Rally

The Solana-based memecoin BONK is gaining strong upward momentum, fueled by speculation surrounding a potential ETF launch and the approach of a significant token burn linked to a new milestone.

While BONK has pulled back slightly after its more than 20% surge earlier this week, the token remains in rally territory and continues to draw increased attention from traders.

In the 24 hours leading up to Thursday, BONK rose by 21%, making it the top performer among major cryptocurrencies. It was last trading at $0.00001673, up 1.68% for the day, within a price range of $0.00001606 to $0.00001751—a daily fluctuation of about 9.4%.

A major catalyst behind the recent price surge is speculation about a 2x leveraged BONK ETF. Tuttle Capital Management has confirmed that the earliest launch date for the fund, pending regulatory clearance, is set for July 16, further igniting investor enthusiasm.

Adding fuel to the bullish outlook, BONK is nearing a milestone of one million holders. Reaching this mark will automatically trigger a burn of one trillion tokens, a move that would reduce circulating supply and potentially create additional upward price pressure. Currently, BONK has over 943,000 holders and is steadily closing in on this target.

From a technical standpoint, BONK has broken free of both falling wedge and symmetrical triangle formations, indicating a shift from consolidation to possible further expansion, according to CoinDesk Research.

Analysts note significant support near $0.000013 and resistance around $0.000018. A solid move above resistance could pave the way for BONK to test levels near $0.00003372—potentially doubling its value if current bullish trends persist.

BONK’s rally aligns with growing strength in the broader Solana ecosystem, which has seen increased validator activity and investment in infrastructure. With technical signals, solid fundamentals, and speculative drivers aligning, BONK appears well-positioned for a potential breakout in the near term.

Technical Analysis Highlights

BONK reached a high of $0.00001751 around 01:00 UTC, with trading volume surging to 1.66 billion tokens, establishing a key resistance level.
Between 03:00 and 12:00 UTC, the token traded within a narrow range, indicating a consolidation phase following its rapid climb.
Support at $0.00001627 remained stable despite small intraday pullbacks.
At 13:52 UTC, BONK experienced a quick 1.5% rebound on strong trading volume of 31.9 billion tokens, reinforcing $0.0000164 as short-term support.
Resistance around $0.000017 has been repeatedly tested during trading between 02:00 and 06:00 UTC.
Broader support sits around $0.000013, based on higher-level chart patterns.
The token has broken out of both falling wedge and symmetrical triangle patterns, which are typically bullish technical indicators.
The Relative Strength Index (RSI) shows there’s still room for upward movement, with no signs of the market being overbought at current price levels.