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Cryptocurrencies: 12,885
Markets: 942
Marketcap: $ 2.10 T(0.32%)
24h Vol: $ 59.98 B
BTC Dominance: 48.13%

BONK Price Surges Over 30% Following SEC News on Bitcoin ETFs

Althalla Crypto News, June 14 – The altcoin Bonk (BONK) saw its price surge by over 30% in the past 24 hours to reach a value of $0.00001327. This surge follows news that the U.S. Securities and Exchange Commission (SEC) may approve popular spot Bitcoin exchange-traded funds (ETFs).

Recent Volatility But Positive Outlook

While BONK witnessed a steep surge in the past day, it is still down over the past week and fortnight according to data. However, in the last 30 days the altcoin has seen a gain of close to 30%. BONK price charts reveal that the recent rise is feeding off the optimism surrounding the crypto market potentially entering a new bullish phase.

Analysts believe BONK could see even greater gains than Shiba Inu if this scenario plays out. Its Relative Strength Index (RSI) and moving average trends also indicate potential future upside.

Whale Accumulation and Volume Boost

There has been a massive increase in BONK’s 24-hour trading volume from $90 million to $350 million. Reports also indicate that large investors have been accumulating the token. Still, the SEC’s request for Bitcoin ETF applicants to refile could pose risks according to experts.

Price predictions range from BONK reaching $0.000020 in the coming weeks. However, investors are advised to proceed with caution given the cryptocurrency’s volatile nature.

In the meantime, alternative tokens like {{tweet by Lookonchain}} Meme Kombat (MK) are also emerging. MK reportedly raised $6.5 million for its token offering, with the project revolving around a social gambling platform for meme battles on Ethereum.

Meme Kombat token holders can stake for passive income and winnings, while the project is building communities across Twitter {{tweet by Meme Kombat (1)}}, Telegram, and Discord. MK tokens are currently on presale at $0.279. Visit Meme Kombat Now.

Final Thoughts

While bullish trends surrounding the crypto market are fueling optimism, only time will tell if BONK’s gains can sustain over the long run. Investors need to balance risk with potential profit when considering cryptocurrencies as an investment option.

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