BONK Is Eyeing 200% Rally, Teases Utility amid ETF Debuts

Core Insights - BONK's price increased nearly 10% to $0.000009808, with trading volume doubling, although it remains significantly below its peak of $0.00005916 as investors evaluate meme coin investments [1] - A bullish pattern is forming on the BONK daily chart, with Bitcoin Capital set to launch the first BONK ETP on the SIX Swiss Exchange on November 27 [1] Price Analysis - BONK is currently in a falling wedge pattern, which typically indicates a potential price reversal, with the RSI at 38 suggesting bearish control [2] - A breakout above the wedge's upper boundary could propel BONK to the $0.00001100-$0.00001300 range, with further targets at $0.00002000-$0.00002200 and potentially $0.00002800-$0.00003000, representing over 200% gains from current levels [3] Utility Expansion - BONK has evolved beyond a meme token, now supporting nearly one million holders and integrating with over 400 applications in the Solana ecosystem, including DeFi platforms, NFT marketplaces, payment systems, and gaming [4] - Revenue from applications like BonkBot and Bonk.fun contributes to continuous buybacks and token burns, reducing total supply from 100 trillion to approximately 88 trillion tokens [5] Institutional Interest - The Osprey Bonk Trust, a closed-end Delaware vehicle, holds around 2.3 trillion BONK and plans to list on OTCQX, adding to deflationary pressure [6] - Multiple BONK ETFs, including those from Osprey and REX, are expected to launch following SEC review, with leveraged versions also being considered alongside Bitcoin Capital's debut [7]