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Cryptocurrency News Articles
BONK Announces U.S. Launch of Its Exchange-Traded Product (ETP), a Meme Coin Milestone
Sep 21, 2024 at 06:01 pm
BONK's price surged 6.66% after the ETP announcement, signaling strong investor interest. BONK forms a falling wedge pattern, indicating a potential bullish breakout of 79.81%.
Solana-based meme coin BONK has seen its price surge by 6.66% following an announcement that the coin will be included in a U.S. exchange-traded product (ETP) for the first time ever. This move marks a significant milestone in the crypto world.
BONK's price has soared by 6.66% after the announcement of its ETP inclusion, sparking optimism among investors. The coin has also seen a 66% surge in trading volume over the past 24 hours, highlighting the keen interest in BONK.
At the recent Solana Breakpoint event, the Bonk Inu community announced their plans for the ETP, stating that it will be the “first-ever step towards a BONK ETF.” This initiative is being undertaken in collaboration with Osprey Funds, a New York-based firm that launched one of the first Bitcoin ETFs and the Solana Trust.
The ETP, which is set to launch by the end of the year, will trade under the BONK ticker symbol. This move is sure to generate excitement throughout the global crypto community.
Currently, Bonk Inu’s price stands at $0.00001809, a 2.5% increase over the past 24 hours. The token has a market cap of $1.27 billion. The upcoming ETP launch is anticipated to introduce new investors, potentially channeling fresh capital into the token's ecosystem.
Interestingly, BONK is forming a falling wedge pattern, a classic technical signal that typically precedes a bullish breakout. If the breakout occurs, BONK's price could surge by approximately 79.81%, aiming for a breakout level of around $0.00002089.
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