5 Reasons Why BONK Meme Coin Could Shatter Its All-Time High – Is the Next Big Rally Coming?

Jakarta, Pintu News – Bonk (BONK), the fourth largest meme coin by market capitalization, has surged by 81.1% in the past two weeks.

This rise raises hopes that the dog-themed coin may soon reach its all-time high (ATH) again.

Factors such as enthusiasm for exchange-traded funds, rising demand, and technical indicators are fueling this optimism.

Why is the Coin BONK Meme on the Rise?

Data from the BeInCrypto page shows that BONK began to rise after hitting a two-month low on June 22.

Read also: XRP price likely to soar to $4.60! Odds of ETF being Approved Hit 95%

Despite a brief dip, the upward trend started to strengthen at the beginning of this month. The Solana (SOL)-based token experienced consecutive spikes, which pushed its value up by 52.4% in the past week.

Moreover, BONK’s performance outpaced the overall cryptocurrency market in the same period. The recent filing from Tuttle Capital Management to launch a 2x leveraged BONK ETF was the main trigger for this surge.

The post-effective amendment sets July 16 as the earliest launch date, subject to regulatory approval.

“Tuttle filed amendments to take effect on July 16. Includes 2× leveraged ETFs for Bonk, Trump, Melania, XRP & more,” wrote an analyst.

This prompted strong upward momentum, making BONK’s chart appear bullish. At the time of writing, the meme coin is trading at $0.0000225, up 2.7% in the last 24 hours (7/7/).

This rise caught the attention of the market. BONK became one of the most trending cryptocurrencies on CoinGecko today.

BONK ETF Launch Triggers Price Rally

With the current price only 61.8% away from its all-time high (ATH), speculation that BONK will soon close the gap is growing. The launch of an ETF is seen as one of the key factors behind this potential.

While the initial news of the ETF filing already triggered a price rally, the official launch could have a similar impact. This will likely attract new investors as well as increase BONK’s liquidity and price stability.

In addition, BONK’s trading volume on July 7 surged to $1.45 billion – the highest since late November 2024. This indicates a surge in trading activity and interest from investors.

Number of BONK Holders Increases

As reported by BeInCrypto, the number of BONK holders also continues to increase. The latest data from Solscan notes that this meme coin is now owned by around 947,300 holders.

Read also: 3 Coin Memes from the Bonk Ecosystem Ready to Explode This Week!

Analyst Justin Wu mentioned on the X platform that if the number of holders approaches 1 million, it could trigger a token burn of 1 trillion, which would reduce supply and potentially push prices up.

A decline in circulating supply coupled with consistent holder growth can create upward pressure on prices.

BONK Manages to Break Out of Weekly Downtrend

In terms of technical analysis, one analyst noted that BONK has managed to break out of its weekly downtrend for the first time since November 2024 – a signal of a potential turning point.

“The real surge might just be about to begin. If BONK manages to break the next key resistance level, we could see a new price record and a true price discovery phase! The current momentum is undeniable,” he wrote.

Meanwhile, another analyst found a broadening wedge pattern on BONK’s chart and added that the recent breakout above the resistance level further strengthens the potential for an upward movement.

Read also: Vitalik Buterin Proposes EIP-7983: Transaction Gas Limits Will Change Ethereum’s Future?

“Volume confirmation suggests that this move could continue upwards in the next few days. This breakout signals potential upward momentum, with targets at $0.0000255, $0.0000371, and $0.0000592,” the analyst added.

Finally, Bonk’s decentralized meme coin launchpad, LetsBonk, experienced a significant spike in activity, surpassing even Pump.fun, the leading token launchpad.

Based on data from Dune, a total of 16,797 meme coins were launched on LetsBonk today, surpassing Pump.fun which recorded 10,111 tokens.

That’s the latest information about crypto. Follow us on Google News to stay up-to-date on the world of crypto and blockchain technology.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• BeInCrypto. 5 Reasons Why BONK Could Hit an All-Time High (ATH). Accessed on July 8, 2025