- BONK reclaimed the 1620 level, triggering renewed buying across key zones.
- ETF filing adds speculative momentum, boosting short-term trading interest.
BONK has climbed 18% in the past 24 hours, currently trading at $0.00001659. The token’s recent technical breakout caught the attention of traders after it reclaimed the 1620 support zone.
This level had been tested multiple times during 2024 and early 2025, establishing it as a key area on the chart. After a period of downward movement, a bullish weekly candle closed above the zone, indicating a potential trend reversal.
Crypto Tony announced a long position at the reclaimed level, highlighting the breakout’s technical significance. According to his update, BONK’s regaining this support shows a strengthened market structure and growing buyer interest.
However, he noted that the crypto market remains highly volatile and advised careful position sizing and strict risk management.
ETF Filing and Solana Ecosystem Fuel Momentum
On July 1, Tuttle Capital submitted a post-effective amendment for a 2x Long BONK ETF. The proposal, which would not be activated before July 16, is part of a larger leveraged ETF suite that includes assets like SOL, XRP, and TRUMP.
At the same time, BONK’s development team confirmed that the Saga phone token redemption program will close on July 31. Of the 20,000 allocations available, 17,599 have already been claimed. Any unredeemed tokens will return to the BONK DAO, contributing to future governance and community projects.
The broader Solana ecosystem continues to grow, now featuring over 350 project integrations. DeFi Development Corp has joined as a validator, helping to expand the network’s decentralized infrastructure, which directly supports tokens like BONK.
With BONK holding above the 1620 level, traders are watching for continued momentum. Crypto Tony’s entry reflects confidence in the current setup, but market participants are urged to maintain risk control as volatility remains high.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
