According to @KookCapitalLLC, the Solana-based memecoin BONK (BONK) is spearheading the altcoin rally as Bitcoin (BTC) trades near its all-time high. Several bullish catalysts are supporting BONK's price, including the success of its token launchpad, LetsBONK.fun, which allocates 50% of its revenue to buy and burn BONK tokens. Further positive pressure is expected from an upcoming 1 trillion token burn when the project reaches 1 million holders and the potential launch of a 2x leveraged BONK ETF by Tuttle Capital Management on July 16. The source's technical analysis indicates BONK-USD established strong support at $0.0000157 and a key recent support level at $0.00001619 following significant volume spikes. In related market news, Bitmine Immersion (BMNR), a firm pivoting to an Ether (ETH) treasury strategy, saw its stock surge over 3,000%. However, traders are cautioned by the performance of Sharplink Gaming (SBET), a similar ETH proxy stock that plunged over 90% from its peak after an initial parabolic rise, highlighting the significant risks for retail investors chasing momentum in such equities.