BONK Surges 58% as ETF Filing and BonkFun Launchpad Boost Demand

BONK, a prominent dog-themed memecoin on the Solana blockchain, has experienced a significant surge in its price, increasing by 58% over the past week. This surge has reignited interest in the meme coin space, with analysts suggesting that this could be the start of a much larger upward trend. The rising demand and strong technical indicators support further price increases.

A major factor contributing to BONK’s price surge is the filing by Tuttle Capital Management to launch a 2x leveraged BONK ETF, with the earliest possible launch date set for July 16. This news has injected fresh bullish sentiment into the market. Additionally, BonkFun, a newly launched platform, has surpassed Pump. fun on Solana, offering a gamified memecoin launchpad experience and gaining significant momentum.

BonkFun has officially claimed the top spot in the launchpad battle, with its market share hitting 51%, the first time it has ever crossed the 50% mark. This milestone signals a major shift in user preference and platform dominance. Meanwhile, Pumpfun’s market share has dropped to 39.9%, falling below 40% for the first time. This shift has significant implications for BONK holders, as BonkFun is directly tied to the BONK token. Each time a new meme coin is launched on the platform, BONK is required for the transaction, leading to increased demand for the BONK token.

BonkFun also hit $402 million in trading volume in a single day, outperforming every other platform on Solana and becoming the number 1 launchpad by market share. Its 24-hour volume had also spiked to $1.45 billion, the highest since November 2024, which shows strong market interest. At the same time, the number of holders continues to rise, with over 947,000 wallets now holding BONK. Its rising demand, the ETF buzz, and growing community support point to a potential breakout soon.

Analysts have shared their insights on BONK’s potential. Crypto Advisor Crypto Jack noted that while the broader market was dipping, BONK has held up better than most, indicating real strength and potential for a major move. Analyst Jonathan Carter shared that BONK has successfully broken above the broadening wedge resistance on the daily chart, with volume confirming the move. This breakout could lead to further upside in the coming days, with key targets ahead at $0.0000255, $0.0000371, and $0.0000592. BONK also just broke its weekly downtrend for the first time since November 2024. If it breaks the next resistance, we could see a new all-time high and price discovery.