Meme coins surged on Wednesday amid the broader rally in the cryptocurrency market.
What Happened: Solana (CRYPTO: SOL)-based Bonk spearheaded the rally with nearly an 8% jump over the last 24 hours.
The dog-themed cryptocurrency recorded a 140% jump in trading volume, indicating significant buying pressure.
The Moving Average Convergence Divergence indicator, which compares two exponential moving averages of price, flashed a "Buy" signal for Bonk as of this writing, according to TradingView, although the Relative Strength Index, used to identify overbought or oversold conditions, was still “Neutral.”
Meme heavyweight Dogecoin soared 5.36% to second place, reaching a 10-day high of $0.17. It registered a 43% increase in volume to $1.32 billion.
Another Solana-based canine coin dogwifhat zoomed 4.78%, reaching levels last seen more than ten days ago.
Other popular meme coins such as Shiba Inu (CRYPTO: SHIB) and Official Trump (CRYPTO: TRUMP) also gained momentum, rising 3.14% and 3.69%, respectively.
The total market capitalization of meme coins jumped 4.59% in the last 24 hours to over $50 billion, while trading volume increased 22.43% to $6 billion. That said, the market has contracted 25% over the last month.
Image via Shutterstock
Read Next:
© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
To add Benzinga News as your preferred source on Google, click here.
