Why Is BONK’s Price Surging?

BONK, the leading dog-themed memecoin on Solana, has surged 58% over the past week, and has sparked fresh excitement in the meme coin space. With a potential ETF launch on the horizon, rising trading volumes, and a booming launchpad ecosystem, analysts believe this could just be the beginning of a much larger move.

Bonk also became the top-trending coin on Coingecko. Its rising demand and strong technicals support further upside.

ETF Filing and Launchpad Momentum Push BONK Into the Spotlight

A major catalyst behind BONK’s surge is that Tuttle Capital Management filed to launch a 2x leveraged BONK ETF, with July 16 as the earliest possible launch date. This news injected fresh bullish sentiment into the market.

At the same time, BonkFun, a newly launched platform, has flipped Pump. fun on Solana. BonkFun integrates directly with the BONK ecosystem, offering a gamified memecoin launchpad experience, and is gaining serious momentum.

BonkFun Outperforms PumpFun

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 holds significant implications for BONK holders. Unlike its competitor, 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. As a result, increased activity on BonkFun means greater demand for the BONK token. 

With each new launch, transaction volume and demand continue to rise. What was once a meme coin is now evolving into a growing ecosystem. Analysts say that this could just be the beginning. 

BONK Sees Record Volume and Holder Growth

BonkFun also hit $402 million in trading volume in a single day. It outperformed every other platform on Solana and became 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 Say BONK Could Hit an ATH

Crypto Advisor Crypto Jack shared in a recent X post that while the whole market was dipping, Bonk has held up better than most. This shows real strength, and it could be getting ready for a major move.

Analyst Jonathan Carter shared that it 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. Key targets ahead are $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 ATH and price discovery.