BONK Eyes Breakout Amid ETF Buzz and Token Burn Hype

Solana-based memecoin BONK has slightly pulled back after a 21% rally earlier this week but remains in bullish territory as trading activity intensifies. As of now, BONK is trading at $0.00001673, showing a modest 1.68% gain after a volatile 24-hour window that saw prices swing between $0.00001606 and $0.00001751—an intraday range of 9.4%.

Investor excitement is being fueled by speculation surrounding a potential 2x leveraged BONK ETF. Tuttle Capital Management has identified July 16 as the earliest potential launch date, pending regulatory approval. Further boosting sentiment, BONK is nearing the milestone of 1 million holders. Once this is achieved, a 1 trillion token burn will be triggered, significantly reducing supply and potentially driving prices higher. Current holder count stands at over 943,000.

From a technical perspective, BONK has broken out of both falling wedge and symmetrical triangle formations, typically bullish indicators signaling the end of consolidation phases. Analysts identify strong support at $0.000013 and near-term resistance at $0.000018. A successful breakout above this resistance could open the door to a target of $0.00003372, representing a potential 100% upside.

Trading volume spiked to 1.66 billion during the recent peak, reinforcing resistance at $0.00001751. Key support at $0.00001627 has held firm despite minor intraday pullbacks, with heavy volume reversals validating this zone. Momentum indicators such as RSI show further room for growth, with no immediate signs of overbought conditions.

BONK’s rally aligns with broader growth across the Solana ecosystem, including rising validator activity and infrastructure investment. With technical breakouts, upcoming catalysts, and strong community backing, BONK may be poised for an extended upward move.