Tuttle Capital is stirring things up again, folks! They’ve just dropped a post-effective amendment to the US SEC for their brand new leveraged ETFs, including the 2x Long BONK ETF. And guess what? This little gem could go live as soon as July 16. Mark your calendars!
BONK Meme Coin With A Serious Bullish Vibe
BONK is suddenly the talk of the town, and traders are all over it like a dog on a bone. The buzz? It’s all about the ETF potentially drawing in more inflows and catching the attention of the big institutions. If you’re wondering if the hype is real, just check out the numbers: Netflow has surged to $1.68 million, marking a jaw-dropping 100% increase in just one day.
What’s that sound? Oh, it’s the money flowing in. Spot net inflow measures exactly that, capital flooding in through direct purchases. And when the inflows keep climbing? Yep, you guessed it, the market is feeling pretty bullish.
And speaking of bullish signs, BONK’s funding rate is showing some love, too. It’s currently at 0.0085%, indicating that more traders are favoring long positions. For those not familiar with this, a positive funding rate means the crowd’s betting on BONK’s price to keep soaring. So yeah, the vibe is definitely bullish.
Now, onto the price action, BONK’s price has jumped above its 20-day EMA (exponential moving average). This is no small feat, as it’s now got dynamic support sitting pretty at $0.000014. What does this mean? A strong short-term bullish momentum that could push BONK up to $0.000018. But let’s not get carried away. If the demand suddenly drops, we might see a pullback to $0.000016 or even $0.000012.
Either way, BONK’s got the market talking, and it’s only getting started.
Jordan V.
Disclaimer: All materials on this site are for informational purposes only. None of the material should be interpreted as investment advice. Please note that despite the nature of much of the material created and hosted on this website, HODL FM is not a financial reference resource, and the opinions of authors and other contributors are their own and should not be taken as financial advice. If you require advice. HODL FM strongly recommends contacting a qualified industry professional.Netflow
