Bonk
rose 9.87% to $ 0.00001494 on July 2nd and extended the recent winnings across Solana Meme -Token space, according to Coindesk Research’s technical analysis model.
The move came in the midst of fresh attention to Tuttle Capital’s proposed 2x long Bonk ETF, which has taken a procedural step forward but does not remain approved.
Tuttle Capital originally filed a form N-1A on January 27 for a package of geared ETFs, including a 2x long bonk product. On July 1, the company presented a post-effective change in which they stated that ETF could not be effective before July 16. This means that the product could be launched after this date pending regulatory approval and operational emergency preparedness. The filing includes similar 2x long exposure means to other assets including sun, Trump, Melania, XRP, ADA and LTC.
This update has revived investor interest in Bonk, reflecting wider appetite for structured MEME -ENDING APOSION via traditional financial instruments. However, ETF has not yet been approved and the date of July 16 marks only the earliest possible activation during current SEC procedures.
Elsewhere, Bonk developers announced that the Saga phone Token Redemption Program officially ends on July 31. Of the 20,000 awards, about 17,599 are required. Unclaimed tokens will be returned to Bonk Dao and earmarked for future development of the ecosystem. This change coincides with the launch of the Solana Seeker phone, signaling a transition in Solana Mobile’s unit cycle.
Meanwhile, the Solana network continues to grow. Defi Development Corp is connected as a validator and increases infrastructure decentralization. The wider network has now surpassed 350 on-chain integrations, increasing the visibility and utility of tokens as Bonk across defi and web3 uses cases.
Technical analysis highlights
- Bonk climbed from $ 0.0000136 to a highlight of $ 0.00001524, an increase of 12.1%before closing at $ 0.00001494.
- The price broke through resistance at $ 0.0000144 during 16:00 UTC Hour on a strong volume of 1.38 trillion.
- A head-and-shoulder pattern formed between 16:48 and 17:47 UTC, indicating potential exhaustion.
- Collapse below $ 0.00001500 experienced powerful sales with 73.9 billion in volume over 17:39 lights.
- Support is now seen around $ 0.0000142, strengthened by the purchase of high volume within 13:00 hours.
- Volatility and volume remain elevated, which still suggests short -term speculation.
Disclaimer: Parts of this article were generated with the help of AI tools and reviewed by our editorial team to ensure accuracy and compliance with Our standards. For more information, see Coindesk’s full AI policy.
