Bonk (BONK), Solana’s leading meme coin, has rallied 81.1% over two weeks, driven by speculation around a 2x leveraged exchange-traded fund (ETF) and an impending 1 trillion token burn. Trading at $0.00002195 as of July 7, 2025, BONK’s market cap stands at $1.7 billion, with 24-hour trading volume spiking to $1.45 billion—the highest since November 2024.
The coin’s breakout from a month-long downtrend has sparked optimism for a potential revisit of its all-time high (ATH) of $0.0000342, now 61.8% away, according to BeInCrypto.A major catalyst is Tuttle Capital Management’s filing for a 2x leveraged BONK ETF, with July 16 as the earliest launch date.
The filing, has injected bullish sentiment, with analysts suggesting the ETF’s launch could trigger another rally. BONK’s holder count is also nearing 1 million, with 947,000 wallets currently holding the token.
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Developers announced a 1 trillion token burn—worth $22 million at current prices—once the milestone is reached, reducing the circulating supply by about 1.24%.
This burn, combined with ongoing buybacks from platforms like BonkFun, is designed to tighten supply and boost value.Technical indicators support the bullish outlook. BONK broke key resistance at $0.00002400, with support established.
However, meme coins are prone to sharp corrections. BONK’s average volatility has risen, with an ATR of 0.0000032, signaling potential price swings. The rally coincides with Solana’s ecosystem growth, including increased validator participation and infrastructure investment. BONK’s integration into platforms like LetsBonk.fun, which requires BONK for transactions, has driven demand. While the ETF and burn provide strong catalysts, investors should remain cautious, as macroeconomic factors like U.S. tariff decisions on July 9 could impact market sentiment.
