Crypto Journalist
Anas Hassan
Crypto Journalist
Anas Hassan
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The meme coin market has surged 51% to $83.5 billion since June 30, with BONK leading weekly gains at 50.4% and Pudgy Penguins (PENGU) climbing 43.2% as the sector experiences its strongest rally since the peak mania period in April 2025.
The resurgence caps a dramatic year for meme coins, which reached a peak of $120 billion in April before crashing to $40-45 billion in May.
According to CoinGecko data, daily trading volume has reached $37.7 billion, with Dogecoin maintaining its dominance, despite newer tokens gaining ground, with a $36 billion market cap.
BONK’s rally coincides with LetsBonk surpassing Pump.fun as the dominant Solana launchpad, capturing 70% market share and generating $1.72 million in daily fees.
The platform launched 25,150 tokens in 24 hours, setting new records and establishing itself as the 7th biggest revenue-generating protocol in crypto.
The explosive growth has driven altcoin season indicators to 50, marking the biggest jump in weeks.
Top performers over the past 90 days include PENGU, up 515%, SPX, gaining 327%, and multiple tokens, such as VIRTUAL, BONK, WIF, and HYPE, which have delivered substantial returns to early investors.
LetsBonk Ecosystem Fuels BONK’s Unprecedented Rally
LetsBonk has captured 70% of the Solana meme coin launchpad market share, generating $1.72 million in daily fees and launching over 25,000 tokens in 24 hours.
The platform’s success directly benefits BONK through its tokenomics structure, where 50% of revenue buys and burns BONK tokens while 8% purchases BONK for strategic reserves.
The BonkFun platform now generates more revenue than established protocols like Ethereum and Base, as well as popular wallets such as Phantom and MetaMask.
With a monthly revenue projection of $45 million, the buyback mechanism could generate $22.5 million in monthly buy pressure for BONK tokens.
BONK’s market capitalization has reached $2.85 billion with a 24-hour trading volume of $1.49 billion, representing a 52% volume-to-market-cap ratio that indicates exceptional liquidity.
Backing BONK’s rally even more, Grayscale has added BONK to its Q3 “Assets Under Consideration” list, which immediately triggered a 12% price rally.
The token recorded 2.6 trillion in on-chain volume during early July, further indicating high transaction activity and growing retail and institutional interest.
Early BONK investors have been taking massive profits since the start of this rally. In fact, the prominent BONK investor, known as the “Bonk Guy,” recently shared his 80,000% ROI.
However, he maintains his position despite rumors of closure, stating that he will not provide actual profit updates until he reaches $50 million in gains.
PENGU and Broader Market Dynamics Signal Sustainable Growth
Pudgy Penguins (PENGU) has rallied 300% from $0.0078 to $0.033 in recent weeks, driven by renewed interest in its NFT ecosystem and strong community support.
The token is nearing a $2 billion market capitalization, which has resulted from its recent renewed cult-like following that began with the start of the rally, with even prominent figures and companies using the PENGU profile picture.
PENGU’s momentum stems from upcoming product releases, NFT-related developments, and the expansion of physical merchandise.
Technical analysis indicates bullish momentum, as the 50-day SMA has crossed above the 200-day SMA; however, resistance remains near the $0.042-$0.045 levels.
The broader meme coin rally has created winners across multiple categories. Dogecoin gained 19.9% weekly to maintain its $36 billion market cap, while Shiba Inu climbed 10.8% to $8.8 billion.
Newer entrants, such as SPX6900, added 14.3%, and FLOKI surged 29.5% as retail investors shifted into alternative meme tokens.
It is clear that market sentiment has shifted decidedly bullish, as evidenced by the surge in the PUMP token’s $500 million ICO, which has demonstrated renewed retail accessibility, and Bitcoin has reached new all-time highs.
The combination has created a favorable environment for speculative assets.
However, concerns persist about market sustainability, especially with the failed launch of Pump.fun’s PUMP token, which crashed 75% after raising $500 million.
As it stands, LetsBonk has successfully overtaken Pump.fun’s market share and may remain so for a while.
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