Since June 30, the meme coin market has risen 51 percent to reach $83.5 billion, with BONK gaining 50.4 percent in the week and Pudgy Penguins (PENGU) rising 43.2 percent as the sector sees its best rally since the mania phase of April 2025.
The revival tops off a tumultuous year of meme coins, which hit a high of $120 billion in April and then plunged to $40-45 billion in May.
Based on the data provided by CoinGecko, the daily trading volume is already at 37.7 billion, and Dogecoin continues to dominate, even though newer tokens are making their way to the top, its market cap being 36 billion.
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| img source by : CoinGecko |
The rally of BONK is accompanied by the fact that LetsBonk has become the leading Solana launchpad with a market share of 70 percent and a daily fee revenue of 1.72 million dollars.
The platform released 25,150 tokens within 24 hours, breaking records and becoming the 7 th largest revenue-generating protocol in crypto.
The explosive growth has propelled the altcoin season indicators to 50, the largest increase in weeks.
The best performers in the last 90 days are PENGU, which has increased by 515%, SPX, which has increased by 327%, and several tokens, including VIRTUAL, BONK, WIF, and HYPE, which have returned huge profits to early investors.
LetsBonk Ecosystem Powers BONK’s Historic Rally
BonkFun has become more profitable than the already existing protocols such as Ethereum and Base, and popular wallets such as Phantom and MetaMask.
The buyback mechanism would create monthly buy pressure of BONK tokens of 22.5 million dollars at a monthly revenue forecast of 45 million dollars.
The market capitalization of BONK is currently at 2.85 billion dollars and the 24-hour trading volume is at 1.49 billion dollars, which means that the volume-to-market-cap ratio is 52 percent, which is an outstanding liquidity indicator.
In further support of the BONK rally, Grayscale has included BONK in its Q3 list of Assets Under Consideration, and this instantly caused the price to rally by 12 percent.
The token registered 2.6 trillion in on-chain volume in early July, which is another sign of increased transaction activity and retail and institutional interest.
Since the beginning of this rally early BONK investors have been reaping huge profits. Indeed, the notable BONK investor, so-called the Bonk Guy, recently posted his 80,000% ROI.
PENGU and Broader Market Forces Point to Sustainable Growth
Pudgy Penguins (PENGU) has gained 300 percent in recent weeks, surging to $0.033 after $0.0078, as more people took an interest in its NFT ecosystem and a supportive community.
The token is also approaching a market capitalization of 2 billion dollars, and this has been because of its recent cult-like following that has seen it gain traction since the beginning of the rally, and even major figures and businesses are using the PENGU profile picture.
The current growth of PENGU is based on the launch of new products, the NFT sector, and the increase in physical products.
The technical analysis shows that it is bullish but the resistance is at the levels of $0.042-$0.045 because the 50-day SMA is above the 200-day SMA.
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| Source: TradingView |
The wider meme coin boom has produced victors in a variety of classes. Dogecoin increased by 19.9 percent per week to retain its market cap of 36 billion dollars, and Shiba Inu rose by 10.8 percent to 8.8 billion dollars.
Newer entrants like SPX6900 gained 14.3%, and FLOKI rocketed 29.5% as retail investors moved into other meme tokens.
The market sentiment has obviously turned bullish and this can be seen by the fact that the PUMP token ICO has raised a whopping 500 million dollars and has shown new retail accessibility and Bitcoin has hit new all-time highs.
The two have led to the development of a positive climate to speculative assets.
Nevertheless, there is an issue of market sustainability, as the launch of Pump.fun PUMP token failed, dropping 75 percent after collecting $500 million.
At the moment, LetsBonk has managed to replace the market share of Pump.fun and it is possible that it will stay like this in the near future.
