BONK Leads Memecoin Amid Crypto Rally While the Token Approaches 1M Holder Milestone | Breaking Crypto News & Blockchain Updates

BONK Leads Memecoin Amid Crypto Rally While the Token Approaches 1M Holder Milestone — As bitcoinBTC$109,203.92hovers near a fresh all-time high, the Solana-based memecoin, BONKBONK$0.0₄1618, is leading the major altcoin rally. The surge...

As bitcoinBTC$109,203.92hovers near a fresh all-time high, the Solana-based memecoin, BONKBONK$0.0₄1618, is leading the major altcoin rally.

The surge coincides with renewed optimism in risk assets following bitcoin's recovery above $110,000, which has triggered widespread gains across established cryptocurrencies.

BONK's momentum appears sustainable as numerous crypto analysts express bullish sentiment, citing significant upside potential remaining.

Adding to BONK's bullish case, the BONK foundation's token launchpad, LetsBONK.fun, recentlysurpassedcompetitor Pump.fun in daily volume with a 126% increase. This development benefits BONK holders as 50% of the platform's revenue is allocated to buying and burning BONK tokens, creating additional positive price pressure in a market already anticipating the upcoming 1 trillion token burn when the project reaches 1 million holders.

Meanwhile, Tuttle Capital ManagementconfirmedJuly 16 as the earliest possible launch date for its suite of leveraged crypto ETFs, including a 2× BONK ETF, fueling bullish sentiment.

Disclaimer:Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence toour standards. For more information, seeCoinDesk's full AI Policy.

CoinDesk Analytics is CoinDesk's AI-powered tool that, with the help of human reporters, generates market data analysis, price movement reports, and financial content focused on cryptocurrency and blockchain markets.

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Aoyon Ashraf is CoinDesk's Head of Americas. He spent almost a decade at Bloomberg covering equities, commodities and tech. Prior to that, he spent several years on the sellside, financing small-cap companies. Aoyon graduated from University of Toronto with a degree in mining engineering. He holds ETH and BTC, as well as ADA, SOL, ATOM and some other altcoins that are below CoinDesk's disclosure threshold of $1,000.

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