The Meme coin Bonk (BONK) on the Solana blockchain has recently seen a big pump, rising by 52.1% in the past week, and 52.5% and 38.4% in the past two weeks and one month, respectively. This surge is mainly driven by rumors that Tuttle Capital may launch a 2x leveraged ETF and the plan to burn 1 trillion tokens with 1 million holders. Additionally, BONK has benefited from the market's optimistic sentiment related to Solana ETFs. However, despite the current positive market sentiment, BONK's upward momentum may face pullback risks, especially after speculative catalysts fade. The current market rise is primarily driven by institutional funds flowing into ETFs, while retail participants' enthusiasm is relatively low, which may lead to a price pullback for BONK. Investors should be cautious of the potential impact of macroeconomic policies, such as interest rate decisions, on BONK's future performance.