According to @AltcoinGordon, the Solana-based memecoin BONK (BONK) is leading the current altcoin rally, fueled by Bitcoin's (BTC) strength. Several bullish catalysts support this momentum, including its launchpad, LetsBONK.fun, surpassing a competitor in daily volume, with 50% of revenue used to buy and burn BONK tokens. Further positive price pressure is expected from an upcoming 1 trillion token burn when the project reaches one million holders. Additionally, Tuttle Capital Management has confirmed a potential July 16 launch for a 2x leveraged BONK ETF. From a technical standpoint, BONK-USD surged from $0.0000147 to a peak of $0.0000175, establishing key support levels at $0.0000157 and more recently at $0.00001619 after significant volatility. However, traders should note that social media platform X suspended several memecoin-related accounts, including Pump.fun, creating potential uncertainty in the sector.

According to @AltcoinGordon, the Solana-based memecoin BONK (BONK) is leading the altcoin rally, driven by Bitcoin's (BTC) recovery and several project-specific catalysts. Key bullish factors include the upcoming launch of a 2x leveraged BONK ETF by Tuttle Capital Management, with a potential date as early as July 16, and a massive 1 trillion token burn scheduled to occur when the coin reaches 1 million holders. The source also notes that the LetsBONK.fun launchpad is contributing to positive price pressure by using 50% of its revenue to buy and burn BONK. From a technical perspective, BONK has broken out of bullish falling wedge and symmetrical triangle patterns. Analysis cited in the report identifies firm support at $0.000013 and key resistance near $0.000018. A decisive break above this resistance could pave the way for a potential 100% rally toward the $0.00003372 price target.