BONK opens up to institutions: Is there a rise coming?

BONK, which is preparing to launch the first memecoin product (ETP) traded on an exchange in the US, is facing a potential rise.

The BONK ETP, announced at the Solana Breakpoint event, is expected to be launched by the end of the year. The project team, which partnered with Osprey Funds, has taken action for the first memecoin fund to be traded on the US exchange.

Commenting on BONK's progress based on the development in question, AMBCrypto said the following:

“This move has excited investors, and BONK's price is expected to increase by more than 200 percent.”

According to AMBCrypto's analysis, BONK's price increased by more than 182 percent from April to May. Stating that BONK is preparing for an important development, AMBCrypto said the following: “With the announcement of the Bonk ETP, which could pave the way for the first memecoin ETF, the upward trend in the popular coin is increasing. The Bollinger Bands on the daily timeframe are tightening, indicating a potential breakout.”

The analysis indicated that the price outlook is positive and funding rates are giving positive signals. The outlook formed in the BONK/USDT parity indicated that $BONK , which reached its lowest levels in six months, may rise. The moving average convergence divergence (MACD) indicator also showed that buying momentum increased and risk appetite was formed.

It was reported that the sentiment turned positive in BONK, which is trading above the Bollinger Bands average. The analysis stated that another factor supporting the bullish signal is Open Interest (OI). The OI rate, which shows that long-term investors are optimistic that BONK can rise, reached the level of 0.0006 percent. According to AMBCrypto, the increasing confidence of traders may carry BONK to new heights.

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