Bonk (BONK) gained 20.5% in the past 24 hours, trading near $0.00001715 on July 2. CoinMarketCap data shows BONK’s market capitalization reached about $1.378 billion while daily trading volume increased to $536.78 million — more than 328% higher than the previous day.
The price now sits nearly 50% above the recent local low near $0.0000119 seen in late June. This rebound follows new steps to launch a structured financial product tied to BONK.
Tuttle’s 2x ETF Filing Moves Closer to Activation
Tuttle Capital Management submitted a post-effective amendment on July 1 for its Form N-1A, first filed in January. The updated filing sets a possible earliest activation date of July 16 for a 2x Long BONK exchange-traded fund (ETF), subject to regulatory approval.
The filing covers leveraged crypto products for other assets too, including Solana (SOL), Trump (TRUMP), Melania (MELANIA), Ripple (XRP), Cardano (ADA), and Litecoin (LTC). The move aligns BONK with efforts to expand meme coin exposure through traditional finance instruments.
Unclaimed Saga Tokens Reduce Circulating Supply
At the same time, BONK’s supply setup is shifting as the Saga phone token redemption program winds down. The BONK team confirmed the redemption window will close on July 31. Of 20,000 allocations, about 17,599 have been claimed so far. Remaining unclaimed tokens will return to the BONK DAO for future ecosystem use, reducing the immediate circulating supply on the open market.
BONK’s total supply sits near 88.87 trillion tokens, with about 80.32 trillion already circulating. Returning unclaimed tokens limits any excess in circulation, which can support price levels when demand stays active.
BONK’s daily increase outperformed other major Solana ecosystem tokens. Solana’s native token, SOL, was up about 4.2% in the same period. Jupiter (JUP) rose 10.1% daily, while Trump (TRUMP) gained about 4.4%. The broader Solana ecosystem market capitalization reached $196.42 billion, up 5.35% daily, with total ecosystem trading volume up 39.5% in 24 hours.
Can BONK Hold Its Breakout?
On a 1-week chart, the token recently broke above a downtrend line. The setup indicates a probable new upward channel if volume remains elevated. The relative strength index (RSI) is around 59.7 — below the common overbought threshold of 70 — which allows room for continued price moves if current activity holds.
If the BONK price stays above $0.000017, the next possible resistance level sits near $0.0000184. The current daily volume of more than $500 million supports the pattern.
Price charts place the next short-term resistance near $0.0000184 if volume and activity hold. If RSI moves above 70, a short pullback could test the local support zone near $0.0000157.
If the ETF product launches as early as July 16, supply tightening could combine with new investor interest. If the ETF faces delays or if redemption inflows return to circulation unexpectedly, BONK could slip back toward June’s levels.
