BONK, a Solana-based memecoin, has emerged as a leader in the altcoin market, surging over 8% amid a broader crypto rally spurred by speculation around potential ETF launches and an impending token burn event. Bitcoin's price recovery above $110,000 has instilled renewed optimism across the cryptocurrency landscape. As BONK nears the milestone of one million holders, a significant 1 trillion token burn will occur, likely enhancing demand and price stability. Recent trading volumes for BONK have skyrocketed, particularly peaking at 2.9 trillion, and technical indicators show strong support levels. Furthermore, the BONK Foundation’s launchpad, LetsBONK.fun, has outperformed competitors in daily trading volume, with half of its revenue being redirected to buy and burn BONK tokens, further driving positive price pressure. Analysts express bullish sentiments toward BONK's future potential with the launch of a leveraged 2X BONK ETF on July 16 by Tuttle Capital Management, signaling strong investor interest and confidence in BONK's growth trajectory.

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