BONK ETF Filing Sparks Meme Coin Rally

Tuttle Capital's proposed 2x Long BONK ETF has reignited enthusiasm around the Solana-based meme coin, driving its price up by 22% in the past 24 hours. The rally stems from renewed investor interest following a post-effective amendment filed with the SEC for the potential launch of the ETF as early as July 16.

The spot net inflow of BONK surged over 100% to $1.68 million, indicating growing demand from investors. This is evident in the token's breaking above its 20-day exponential moving average, signaling short-term bullish momentum.

Technical indicators support a continued upward trajectory for BONK. The funding rate remains positive at 0.0085%, confirming that more traders are betting on long positions rather than shorts. If bulls retain control of the market, they could drive BONK's price toward $0.000018 in the near term.