BONK Surges Back: Solana ETF Hype & Ecosystem Boom Fuel Memecoin’s Comeback
Solana's favorite canine-themed memecoin is barking up the right tree again. BONK's 2025 rally accelerates as institutional interest meets grassroots momentum.
ETF whispers ignite trading frenzy
Rumors of a Solana ETF filing—and BONK's potential inclusion—sent traders scrambling. Never mind that the SEC hasn't approved a crypto ETF since 2024's landmark Bitcoin decision. When has rationality ever stopped a memecoin pump?
Ecosystem tailwinds turn gale-force
Developer activity across Solana defi projects hit record highs this quarter. BONK's integration as a tipping currency on Solana-based social platforms gives it utility beyond speculative trading. Who knew dog coins could actually fetch something?
The cynical take
Wall Street's sudden love affair with crypto ETFs reeks of desperation. When traditional finance can't beat decentralized markets, they'll inevitably try to repackage them—with a 2% management fee, of course.
BONK's resurgence proves one immutable law of crypto: in a bull market, even joke assets get their day. Just don't be the one left holding the bag when the music stops.
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.
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.
