Will BONK Launch the First Meme Token ETP Potentially Achieving a 200 Surge

According to CoinWorld News:
Bonk Inu [BONK] plans to launch the first meme token exchange-traded product (ETP) in the United States, creating a stir.
At the Solana Breakpoint event, BONK announced a partnership with Osprey Funds to launch the ETP by the end of the year. This move has excited investors, as BONK’s price is expected to rise further, potentially increasing by over 200% in October.
As the first memecoin seeking an ETP, BONK is laying the groundwork for further development and may become an exchange-traded fund (ETF) in the future. Investors are eagerly watching BONK’s progress.
Recent developments have impacted BONK’s price trajectory. The BONK/USDT pair has now tested this key support level three times, which led to a price surge of over 182% from April to May of this year.
However, the pair subsequently experienced a downturn and again reached the support zone on August 5, when the entire cryptocurrency market fell to a six-month low.



With the launch of the Bonk ETP, the first memecoin ETF may emerge, and bullish sentiment is strengthening. The Bollinger Bands on the daily timeframe are tightening, indicating a potential breakout.
The Moving Average Convergence Divergence (MACD) indicator also shows that buying momentum is increasing, suggesting that prices may rise soon.
Currently, BONK is trading above the Bollinger Band mean, indicating that positive sentiment is on the rise.
BONK OI Weighted Financing Rate
Another bullish signal comes from the OI weighted financing rate, which has turned positive. This indicates that bullish traders are becoming increasingly optimistic about BONK’s price potential.
As of now, the OI weighted financing rate is 0.0006%, and BONK’s price is $0.000017. The increased confidence among traders may help push it to new heights, potentially reaching July’s highs and generating over 110% returns.



Sell Volume and Net Shorts Decrease
Sell volume and net shorts are also decreasing, further supporting the bullish outlook. The decline in contract transfer volume indicates that selling pressure has eased, and the market is entering a consolidation phase.
This creates a favorable environment for price increases, especially with strong demand and a continuous reduction in supply.
As selling pressure decreases and long positions increase, BONK appears poised for a rebound and may surpass previous highs.
The upcoming launch of the ETP, combined with declining selling pressure and rising bullish sentiment, could drive its price higher.
I anticipate that BONK may experience a breakout, returning to the July highs of a 110% increase, and preparing for further growth in the last quarter of 2024