Solana meme token BONK ($BONK) jumped 9.87% to $0.00001494 on July 2, extending its rally amid renewed investor excitement over a potential 2x leveraged BONK ETF. According to CoinDesk Research, BONK peaked at $0.00001524 after breaking key resistance at $0.0000144 on trading volume exceeding 1.38 trillion tokens.
Interest surged following Tuttle Capital’s filing of a post-effective amendment on July 1 for its proposed 2x Long BONK ETF. The ETF, first introduced via Form N-1A in January, could become effective as early as July 16, pending regulatory approval. The fund is part of a broader suite that includes leveraged products for SOL, TRUMP, MELANIA, XRP, ADA, and LTC.
Although the ETF remains unapproved, anticipation is growing for structured meme coin exposure via traditional financial markets. BONK’s recent gains reflect broader momentum in Solana’s meme coin ecosystem.
Contributing to the buzz, BONK developers confirmed that the Saga phone token redemption program will end on July 31. Of the 20,000 token allocations tied to Solana’s flagship phone, over 17,500 have already been claimed. Unclaimed tokens will revert to the BONK DAO for future development, aligning with the debut of Solana’s new Seeker phone.
Meanwhile, Solana’s network growth continues, with DeFi Development Corp joining as a validator. The network now boasts over 350 on-chain integrations, expanding BONK’s utility across DeFi and Web3 applications.
Technical indicators suggest short-term volatility. A head-and-shoulders pattern formed between 16:48-17:47 UTC, followed by a breakdown below $0.00001500 and heavy selling volume. Support is building around $0.0000142, with active buy zones observed during the 13:00 UTC hour.
BONK’s surge highlights rising interest in Solana-based assets and speculative ETF-driven meme coin trading.
