BONK Reclaims Momentum as Solana ETF Buzz and Ecosystem Growth Drive Rally

BONK is back in the spotlight, rallying 8.7% over the past 24 hours and reaching a high of $0.0000235 before settling at $0.00002215 . The surge came with 2.27 trillion tokens traded, a 67% increase over average volume, signaling growing institutional and retail interest. Speculation continues to mount around a potential 2x leveraged BONK ETF from Tuttle Capital , while broader optimism around Solana’s newly launched ETF has helped drive capital into the ecosystem. However, BONK’s momentum isn’t just fueled by market noise – its ecosystem fundamentals are strengthening rapidly. The standout catalyst is BONKbot, now the largest Telegram-based trading bot by volume. BONKbot has generated an impressive $4.35 million in monthly fees , eclipsing competing bots and providing a tangible revenue stream for the community. Complementing this growth, BONK recently saw a $200,000 hackathon winner emerge, injecting further activity and innovation into the ecosystem. Technically, BONK has broken out of a month-long downtrend channel, with buyers holding the $0.0000218 level and briefly establishing new support at $0.0000230 before a modest pullback, according to CoinDesk Research’s technical analysis model. With supply-side narratives (like the pending 1 trillion token burn) and expanding use cases, BONK may be primed for continued upside. Technical Analysis Highlights BONK traded in an 8.7% range between $0.0000218 and $0.0000235 from July 6 at 15:00 UTC to July 7 at 14:00 UTC. Volume spiked to 2.27T, marking a 67% surge over the daily average and confirming a high-volume breakout. BONK found solid support at $0.0000218, with consistent buying pressure throughout the session. A sharp rally peaked at 10:00 UTC, followed by a breakout to $0.0000230, which briefly acted as support. The token slipped 2.7% in the final hour, from $0.0000228 to $0.0000222, amid profit-taking. Volume surged to 42.3B at 13:26 UTC, followed by a late-session spike of 145B at 13:59 UTC, triggering a technical pullback. Support at $0.0000225 broke under pressure, now acting as resistance heading into the next session. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards . For more information, see CoinDesk’s full AI Policy .

Source: CoinDesk