The post Is BONK Price Ready to Explode? Bonk Inu Announce BONK ETP Launch IN U.S. appeared first on Coinpedia Fintech News
The Solana meme coin BONK has caught the attention of crypto enthusiasts with a remarkable surge in recent months. Analysts are buzzing about the potential for a staggering 500% increase in October, especially following the announcement of BONK’s exchange-traded product (ETP) launch in the U.S. This marks a historic moment as BONK becomes the first meme coin to achieve this milestone.
BONK’s Big Announcement
Over the past two days, BONK’s price jumped by 6.66%, signaling strong short-term bullish sentiment. A significant factor in this rise is the impressive 66% spike in trading volume, showcasing heightened interest from investors and positioning BONK as a leading player in the meme coin arena.
At the recent Solana Breakpoint event, the Bonk Inu community revealed their plans for the ETP, stating, “This marks the first-ever step towards a BONK ETF.” This initiative is being developed in collaboration with Osprey Funds, a New York-based firm known for launching one of the first Bitcoin ETFs and the Solana Trust.
The community aims to roll out the ETP by the end of the year, maintaining the same ticker symbol, BONK. This announcement has ignited a wave of optimism surrounding the token globally.
What’s Next for BONK’s Price?
Currently, Bonk Inu’s price stands at $0.00001809, marking a 2.5% increase in the last 24 hours, with a market cap of $1.27 billion. The anticipation surrounding the upcoming ETP launch is expected to attract new investors, which could drive fresh capital into the token’s ecosystem.
Notably, BONK is forming a falling wedge pattern, a classic technical signal that often precedes a bullish breakout. Analysts suggest that if a breakout occurs, BONK’s price could surge by approximately 79.81%, targeting a breakout level of around $0.00002089.
Additionally, momentum indicators on the daily chart indicate that BONK’s downward momentum is slowing, suggesting an impending upward price movement. Once this momentum shifts, BONK could successfully break through key resistance levels, paving the way for even greater gains ahead.