BONK Trends on Google as Investors Anticipate ETP Listing

The meme coin BONK is gaining renewed momentum as Bitcoin holds above $68,000, fueling a rally across the broader meme coin market. Investors are increasingly focusing on BONK, expecting further upside as the crypto ecosystem shows signs of recovery.

BONK on the Rise

BONK surged 5.8% over the last 24 hours and 36% in the past 30 days, pushing its market cap to $1.71 billion at the time of reporting. The coin’s daily trading volume also jumped 76%, crossing $285 million.

Meanwhile, Bitcoin remained relatively stable, trading just above $68,000. With Bitcoin consolidating, the global crypto market cap has recovered to $2.48 trillion, up from the $2.2 trillion dip seen on October 11. It is common for altcoins—especially meme coins—to rally when Bitcoin stabilizes, as traders seek higher-risk assets with the potential for quick, short-term profits.

BONK Partners with Osprey Funds for ETP Launch

The excitement surrounding BONK has been further fueled by the announcement of a partnership with Osprey Funds, a New York-based asset manager known for integrating crypto assets into traditional financial markets. Osprey Funds plans to launch the Osprey BONK Trust, an exchange-traded product (ETP) that aims to make it easier for both retail and institutional investors to access the meme coin.

Osprey Funds has already begun accepting investments from its initial group of qualified investors. The firm intends to list the BONK ETP on secondary markets following this initial phase, lowering barriers for mainstream investors to participate in the crypto space.

Traders Bullish on BONK

Investor sentiment around BONK is positive, with the meme coin becoming a top trending search on Google on October 21. The community tracker on CoinMarketCap shows that many traders remain optimistic, anticipating further gains.

Technical analysis also supports a bullish outlook. On social media platform X (formerly Twitter), independent trader Unipics noted that BONK has been consolidating within a large triangle pattern since March 2024, a formation that suggests the potential for a breakout. If the coin breaks out of this pattern, it could signal a bullish price reversal.

Additionally, key indicators on BONK’s 1-day chart align with this positive forecast. Its price is positioned near the upper Bollinger Band, and the Moving Average Convergence Divergence (MACD) indicator shows both lines above zero, suggesting that bullish momentum may continue in the short term.

Meme Coins Enjoy Market-Wide Gains

BONK’s rally is part of a larger trend in the meme coin sector. CoinGecko reports that meme coins have experienced a collective gain of 1.7% over the past 24 hours, with their combined market cap now exceeding $65 billion.

Some market analysts believe the recent surge in meme coins could be the beginning of a larger movement. Crypto analyst Murad Mahmudov predicts that the market is entering a "meme coin supercycle," potentially peaking by late 2025 as more traders and investors flock to these high-risk assets.

As Bitcoin continues to consolidate, meme coins like BONK could see even more attention from traders seeking quick profits. With its upcoming ETP listing and growing community support, BONK appears well-positioned to capture a larger share of the meme coin market in the coming months.