BONK (Bonk) rose 16.76% in 24 hours

Gate News Bot news, July 16, according to CoinMarketCap data, as of the time of writing, BONK (Bonk) is currently priced at $0.000031, having risen 16.76% in the last 24 hours, with a high of $0.000031 and a low of $0.000020. The current market capitalization is approximately $254 million, an increase of $36.4 million compared to yesterday.

BONK is a diversified cryptocurrency ecosystem with its main projects including BONKrewards (token locking reward platform), BONKmark (on-chain e-card), Bonk Scooper (token conversion tool), BONKlive (token issuance platform), and BONKbets (sports betting site). BONK has also partnered with multiple collaborators, such as the Moonwalk fitness app, Exchange Art NFT market, and the BONK Art Master art project, aiming to provide users with a diverse blockchain application experience.

Recent important news about BONK:

1️⃣ BONK. fun platform transaction fee income surges Bonk. The fun launchpad platform has performed strongly recently, with an average daily fee exceeding 1 million USD for six consecutive days over the past week, and on July 11, it even set a new single-day high of 1.27 million USD. In just 7 days, the platform has generated a total revenue of 7.93 million USD. It is understood that 58% of these fees are used to buy back BONK tokens, thus injecting continuous buying demand.

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

3️⃣ Tuttle Capital is considering launching a BONK leveraged ETF Market rumors suggest that Tuttle Capital may apply to launch a 2x leveraged ETF product to track the price of BONK tokens. Although no official application documents have been submitted yet, this news has sparked high interest among investors and is expected to attract more institutional funds into the BONK market.

From a technical perspective, the price of BONK 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) has approached the overbought area near 70, which may pose a risk of a pullback in the short term.

This message does not constitute investment advice; investors should be aware of market volatility risks.