Solana-based memecoin BONK ($0.00001659) is leading the altcoin rally as Bitcoin trades near a new all-time high above $109,600. The surge comes amid renewed risk appetite following BTC’s push above $110,000, sparking gains across the broader crypto market.
BONK’s rise is backed by bullish sentiment from analysts who believe the token still has significant upside potential. A key driver is the explosive growth of the BONK Foundation’s launchpad, LetsBONK.fun, which recently overtook rival Pump.fun in daily volume with a 126% increase. The platform contributes 50% of its revenue to BONK buybacks and burns, adding deflationary pressure that’s further amplified by the anticipated 1 trillion token burn once the project hits 1 million holders.
Investor enthusiasm also grew after Tuttle Capital Management confirmed July 16 as the earliest launch date for its new suite of leveraged crypto ETFs, including a 2× BONK ETF.
Technical data shows that between July 2 and 3, BONK-USD jumped 10.4%, peaking at $0.0000175. A volume spike of 2.9 trillion tokens established strong support at $0.0000157, with further buying pressure around $0.0000168 pushing prices upward despite some profit-taking.
During the final hour of trading on July 3, BONK saw high volatility, dropping to $0.00001619 before recovering. A massive 86.9 trillion volume at the low marked a key support zone. The rebound formed a new ascending trendline, with 22.5 trillion in volume lifting the price 2.7% from the session bottom.
With memecoin mania resurging and Bitcoin’s strength returning, BONK appears positioned for further gains as it draws growing attention from retail and institutional investors alike.
