6 days ago
Bonk (BONK) surged 9.87% to $0.00001494 connected July 2, extending caller gains crossed the Solana meme token space, according to CoinDesk Research's method investigation model.
The determination came amid caller attraction to Tuttle Capital’s projected 2x Long BONK ETF, which has taken a procedural measurement guardant but remains unapproved.
Tuttle Capital primitively filed a Form N-1A connected Jan. 27, for a suite of leveraged ETFs, including a 2x Long BONK product. On July 1, the steadfast submitted a post-effective amendment stating that the ETF could go effectual nary sooner than July 16. This means the merchandise could motorboat aft that date, pending regulatory clearance and operational readiness. The filing includes akin 2x agelong vulnerability funds for different assets, including SOL, TRUMP, MELANIA, XRP, ADA and LTC.
This update has rekindled capitalist involvement successful BONK, reflecting broader appetite for structured meme coin vulnerability via accepted fiscal instruments. However, the ETF is not yet approved, and the July 16 day lone marks the earliest imaginable activation nether existent SEC procedures.
Elsewhere, BONK developers announced that the Saga telephone token redemption programme volition officially extremity connected July 31. Of the 20,000 allocations, astir 17,599 person been claimed. Unclaimed tokens volition beryllium returned to the BONK DAO and earmarked for aboriginal ecosystem development. This alteration coincides with the motorboat of the Solana Seeker phone, signaling a modulation successful Solana Mobile’s instrumentality cycle.
Meanwhile, the Solana web continues to grow. DeFi Development Corp has joined arsenic a validator, boosting infrastructure decentralization. The broader web has present surpassed 350 on-chain integrations, expanding the visibility and inferior of tokens similar BONK crossed DeFi and Web3 usage cases.
Technical Analysis Highlights
- BONK climbed from $0.0000136 to a highest of $0.00001524, up 12.1%, earlier closing astatine $0.00001494.
- Price broke done absorption astatine $0.0000144 during the 16:00 UTC hr connected beardown measurement of 1.38 trillion.
- A head-and-shoulders signifier formed betwixt 16:48 and 17:47 UTC, indicating imaginable exhaustion.
- Breakdown beneath $0.00001500 saw dense selling, with 73.9 cardinal successful measurement during the 17:39 candle.
- Support is present seen astir $0.0000142, bolstered by high-volume buying during the 13:00 hour.
- Volatility and measurement stay elevated, suggesting continued short-term speculation.
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.
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