Meme Coin Market Tops $60B as BONK Rockets 36% amid Cat Token Surge

The meme coin market is experiencing a new wave of bullish energy, pushing the total sector market cap to about $60.3 billion, a 4.2% increase in the past 24 hours, according to CoinGecko.

Just days ago, the market already witnessed a jaw-dropping 25% surge to $56 billion, driven by intensified trading activity and a surge in speculative interest.

Today, that momentum shows no signs of slowing, with trading volumes surging past $10.7 billion in a 24-hour period.

Central to this frenzy is BONK, the Solana-based meme coin that's gaining traction.

BONK's price surged over 35.5% this past week, bringing its market cap to $1.25 billion and earning it the 78th spot on the global crypto rankings.

In the past 24 hours alone, BONK has recorded $232 million in trading volume, driven by a breakout from a broadening wedge pattern on the daily chart, which is a technical signal often interpreted as a bullish continuation pattern.

As a technical analyst pointed out on X, BONK breaking the upper border of the wedge, coupled with its push toward the 100-day moving average, signals continued upward momentum.

#BONK

Token is breaking out of the upper border of the broadening wedge pattern on daily timeframe