BONK (Bonk) rose 27.34% in 24 hours

Gate News Bot News, on July 17, according to CoinMarketCap, as of press time, BONK (Bonk) is now trading at $0.000038, up 27.34% in 24 hours, reaching a high of $0.000039 and a low of $0.000022, with a 24-hour trading volume of $2.336 billion. The current market capitalization is about $3.077 billion, an increase of $661 million from yesterday.

BONK is a community-driven cryptocurrency project that features several key initiatives, including BONK rewards, BONK tags, BONK sweepers, BONK live streaming, and BONK betting. The project has also established the "BONK family" with multiple partners, such as Moonwalk Fitness, Exchange Art NFT marketplace, and the charity project Buddies for Paws. BONK is committed to providing users with a diverse range of cryptocurrency ecosystem services.

BONK recent important news:

1️⃣ BONK.fun platform fee income surges Bonk. fun's launchpad platform has performed strongly, with an average daily fee exceeding $1 million for six consecutive days over the past week, peaking at $1.27 million on July 11. Within just seven days, the platform generated a total revenue of $7.93 million. Of these fees, 58% are used to repurchase BONK tokens, injecting ongoing buying demand.

2️⃣ The number of token holders is close to the 1 million milestone The BONK project is gradually approaching the important milestone of 1 million holders. Once this goal is reached, a burn plan of 1 trillion BONK tokens will be triggered, further reducing market circulation. This mechanism is expected to support the token price and enhance the bullish sentiment in the market.

3️⃣ Tuttle Capital Considers Launch of BONK Leveraged ETF Market rumors suggest that Tuttle Capital may apply to launch a 2x leveraged ETF product to track the price of BONK token. Although there are currently no official application documents, this news has sparked significant interest among investors and is expected to attract more institutional funds into the BONK market.

From a technical perspective, the BONK price has broken through the important resistance level of $0.00002626 and has stabilized above the 200-day exponential moving average, showing strong upward momentum. However, the relative strength index (RSI) is approaching the overbought zone at 70, which may pose a risk of a short-term pullback.

This message is not an investment advice; investors should be aware of market volatility risks.