Why BONK Price Is Rising Today

Furthermore, there‘s a big plan in the pipeline, a 1 trillion BONK token burn. But this isn’t just a random burn. This action will only take place if the number of holders reaches 1 million wallets. Currently, it‘s still at 943,000, so there’s only a little left. If this burn occurs, the supply will decrease by around 1.2%.

Furthermore, the BonkFun system also sets aside 35% of all fees for token buybacks. This kind of deflationary pressure usually increases market curiosity.

And there‘s another agenda that’s quietly driving the price. The BONK token exchange program via Solana Saga mobile phones will close on July 31st. Of the total 20,000 tokens allocated, 17,599 have already been claimed. The rest？ If not exchanged, they will be returned to the DAO Treasury.

Looking back, BONK has actually been building its foundation since last May. At that time, they partnered with the DeFi Development Corporation and shared validator nodes. This collaboration combined institutional strength with the appeal of the memecoin community. With the validator nodes they jointly manage, the staking ecosystem on the Solana network has also grown.

Furthermore, since early July, another factor has emerged that has fueled the price surge: ETF speculation. Tuttle Capital reportedly resubmitted its proposal for a 2x Long BONK leveraged ETF on July 1st.

While theres no official green light yet, rumors like this alone are enough to stir up market activity. This is especially true at the same time as the staking and DeFi sectors in the Solana ecosystem are booming.