Bonk Leads the Altcoin Pack, Soars 19% Ahead of Proposed ETF Launch

BONK, one of the most talked-about memecoins in the current crypto landscape, just staged a major rally—surging 19.6% in the last 24 hours to reach US$0.00001653, according to data from Coingecko. The jump came hot on the heels of an ETF proposal from investment firm Tuttle Capital, which appears to have reignited market interest in the token.

The proposed Exchange Traded Fund (ETF)—set to launch on 16 July—will offer a 2x leveraged long position on BONK, enabling traditional investors to gain exposure to the high-risk, high-reward memecoin through conventional financial markets.

As a result of this announcement, BONK’s market capitalisation has swelled to around US$1.2 billion, with a daily trading volume clocking in at approximately US$396,000. Notably, the price dipped to a low of US$0.00001371 within the same time window, highlighting the coin’s characteristic volatility.

BONK by the Numbers

BONK’s total supply stands at a massive 88 trillion tokens, with 77 trillion BONK currently in circulation. Despite the recent surge, it’s still trading significantly below its all-time high of US$0.00005825, which was set earlier in 2024.

The memecoin, originally launched on the Solana blockchain, has drawn comparisons to other meme-driven tokens like Dogecoin and Shiba Inu—but with a growing ecosystem and increasing institutional interest, BONK is beginning to carve out a narrative of its own.

Why the ETF News Matters

Tuttle Capital’s ETF proposal represents a significant shift in how memecoins are perceived by the broader financial market. While ETFs for Bitcoin and Ethereum are slowly becoming more mainstream, the inclusion of BONK—especially in a leveraged 2x format—signals an appetite among investors for speculative but potentially explosive altcoin plays.

“This move could open the floodgates for retail investors who prefer structured financial products but still want to tap into the crypto upside,” said one Sydney-based crypto analyst.

Moreover, the timing of the ETF launch, scheduled for mid-July, coincides with broader optimism in the altcoin sector—especially as geopolitical tensions ease and macroeconomic indicators improve.

What's Next for BONK?

Although BONK’s price has jumped significantly, analysts are divided on where it goes next. Some believe the ETF announcement is just the beginning of a longer bull phase for memecoins, while others caution that BONK’s fundamentals still lag behind its hype.

Still, the community remains hopeful. With rising trading activity, exchange listings, and now potential ETF exposure, BONK could be positioning itself as more than just a fleeting trend.

If the ETF does launch successfully—and attracts enough volume—it could mark a turning point for memecoins in general, potentially paving the way for other tokens in this category to explore similar financial instruments.

Conclusion

With BONK’s 19.6% price spike, $1.2 billion market cap, and an impending leveraged ETF launch, this memecoin is once again front and centre in the altcoin spotlight. Whether it continues its ascent or pulls back post-hype, one thing is clear: BONK isn’t just a joke anymore—it’s a real contender in the high-stakes world of crypto speculation.

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