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- BONK ETF delayed by one week but sentiment stays positive.
- Dogecoin’s strong gains are lifting interest in memecoins.
- BONK tests key support with signs of bullish momentum.
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Rex-Osprey’s BONK ETF has been delayed by a week, joining other memecoin-linked ETFs such as Dogecoin’s DOGE. Yet despite the pause, sentiment across the memecoin sector remains upbeat—driven largely by Dogecoin’s resurgence. The leading meme token has historically sparked sector-wide rallies, and its latest performance may be setting the stage for another.
Dogecoin’s Strength Fuels Wider Optimism
Dogecoin has long been the benchmark for meme tokens, surviving multiple market cycles and staying the most recognized name in the space. In 2021, its late-cycle rally triggered a wave of speculative interest across crypto. Now, with Dogecoin delivering a 35% monthly return compared to Ethereum’s 6.18%, traders see signs of relative strength returning to the memecoin niche.
That outperformance has revived hopes that capital could rotate from major assets like Ethereum and Bitcoin into higher-risk meme plays such as BONK.
BONK Holds Key Support Zone
BONK’s price action shows it is testing a critical demand zone between $0.0000177 and $0.0000226. Technical tools like Fibonacci retracements and the Fixed Range Volume Profile point to $0.0000226 as a major support level.
The token’s RSI remains above 50, reflecting short-term bullish momentum, while the OBV’s steady climb signals consistent buying interest. These indicators suggest that despite short-term uncertainty, market structure has tilted slightly bullish.
Also Read: BONK Price Surges as Launchpad and ETF Boost Retail & Institutional Interest
Traders Eye Potential Dip Buying Opportunity
Coinglass liquidation heatmaps show that BONK saw a strong bounce near $0.0000223, though that level hasn’t been fully retested. This leaves room for a brief dip, which some traders may see as an entry point—provided broader market sentiment, especially Bitcoin’s, remains stable.
In short, the BONK ETF delay hasn’t shaken optimism. If Dogecoin keeps rallying, BONK could be among the first memecoins to benefit.
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Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
