BONK Leads Memecoin Amid Crypto Rally While the Token Approaches 1M Holder Milestone

As bitcoin (BTC) hovers adjacent a caller all-time high, the Solana-based memecoin, BONK (BONK), is starring the large altcoin rally.

The surge coincides with renewed optimism successful hazard assets pursuing bitcoin's betterment supra $110,000, which has triggered wide gains crossed established cryptocurrencies.

BONK's momentum appears sustainable arsenic galore crypto analysts explicit bullish sentiment, citing important upside imaginable remaining.

Adding to BONK's bullish case, the BONK foundation's token launchpad, LetsBONK.fun, precocious surpassed rival Pump.fun successful regular measurement with a 126% increase. This improvement benefits BONK holders arsenic 50% of the platform's gross is allocated to buying and burning BONK tokens, creating further affirmative terms unit successful a marketplace already anticipating the upcoming 1 trillion token pain erstwhile the task reaches 1 cardinal holders.

Meanwhile, Tuttle Capital Management confirmed July 16 arsenic the earliest imaginable motorboat day for its suite of leveraged crypto ETFs, including a 2× BONK ETF, fueling bullish sentiment.

Technical investigation highlights

• The BONK-USD brace experienced accrued buying unit during the past 24 hours, from July 2, 16:00 UTC, to July 3, 15:00 UTC. It surged from $0.0000147 to a highest of $0.0000175, representing a 10.4% range, according to CoinDesk Research's method investigation model.
• A important measurement spike to 2.9 trillion astatine midnight connected July 3 established beardown enactment astatine the $0.0000157 level, portion high-volume buying astatine the $0.0000168 level during the 05:00 UTC hr propelled prices higher contempt precocious league profit-taking, the exemplary showed.
• However, during the past 60 minutes from July 3 astatine 14:50 to 15:49 UTC, BONK-USD experienced important volatility, dropping from $0.00001666 to a debased of $0.00001619 earlier recovering to $0.00001624.
• A notable measurement spike of 86.9 trillion astatine 15:35 coincided with the terms bottoming astatine $0.00001619, establishing a cardinal enactment level. The consequent betterment formed an ascending trendline with expanding volumes, peculiarly astatine 15:49, wherever 22.5 trillion successful measurement pushed prices up by 2.7% from the league low, according to the model.

Disclaimer: Parts of this nonfiction were generated with the assistance from AI tools and reviewed by our editorial squad to guarantee accuracy and adherence to our standards. For much information, see CoinDesk's afloat AI Policy.