BONK Memecoin Surges as Bitcoin Reaches New All-Time High
Bitcoin (BTC) is nearing a new all-time high, driving a rally in altcoins, with the memecoin BONK (BONK) showing significant gains. Key developments include:
- BONK's price surged from $0.0000147 to a peak of $0.0000175, marking a 10.4% increase.
- The BONK foundation's token launchpad, LetsBONK.fun, saw a 126% increase in daily volume, surpassing competitor Pump.fun, benefiting BONK holders through revenue allocation for buying and burning tokens.
- A planned token burn of 1 trillion is expected when BONK reaches 1 million holders.
- Tuttle Capital Management confirmed July 16 as the earliest launch date for a 2× BONK ETF, adding to bullish sentiment.
- Technical analysis indicates strong support established at $0.0000157 and volatility with a drop to $0.00001619 before recovering to $0.00001624.
The current market conditions suggest ongoing optimism for BONK amidst Bitcoin's recovery.