Key Takeaways:
- BONK surged nearly 150% in July, driven by the success of the LetsBonk.fun launchpad and a shift in trader sentiment away from Pump.Fun.
- DOGE and FLOKI also rallied, gaining 50% and 80% respectively, as meme coins returned to the spotlight alongside broader market activity.
- Despite strong momentum, risks remain high, with price action heavily influenced by community hype, influencer support, and launchpad dynamics.
In July, the meme coin market came back to life, fueled in part by the rise of Pudgy Penguins (PENGU). Some crypto traders have even started talking about a potential meme coin supercycle.
Pudgy Penguins is a relatively new player, launched in late 2024. But among the top 10 meme coins by market cap, it’s the older names like Dogecoin (DOGE), Bonk (BONK), and Floki (FLOKI) that have shown the strongest price performance. What’s driving the rally?
BONK Price Jumps Nearly 150% in July
BONK has become one of the most talked-about meme coins this summer. The surge began with the April launch of the LetsBonk.fun launchpad. Within a few months, the platform emerged as a serious competitor to Pump.Fun. While some believe it’s just hype, volume, and other on-chain data suggest traders are indeed shifting toward the BONK ecosystem.
Some token migrations from Pump.Fun to LetsBonk.fun have already begun. Hello Kitty (KITTY) was one of the first to announce the move.
KITTY
BONK Migration
Explaining the incoming $kitty migration:
How it works, what to expect, and why we think it’s a major win.pic.twitter.com/FaJ1zOewz6
— Fans Hello Kitty
(@HKittyOnSol) July 28, 2025
The weak performance of the PUMP token and the perceived lack of effort from its team have also damaged Pump.Fun’s reputation. Meanwhile, LetsBonk.fun appears more “user-friendly,” offering buybacks for its top meme coins by market cap.
win and help win
we have just bought 89 $SOL of each of the top 11 tokens on BONKfun, meaning a total of 979 $SOL was spent buying back top pairs based on both market cap + community engagement stats.
tokens included:
$Useless$Ani$Kori
$Memecoin$Nyla$Hosico$Debt…— letsBONK.fun (@bonk_fun) July 27, 2025
As a result, BONK — one of Solana’s older meme coins — has started gaining momentum again, thanks to its association with the launchpad. Influencer Unipics, also known as the “BONK Guy,” has become one of the ecosystem’s key promoters. He currently supports Useless Coin (USELESS), the largest by market cap among BONK-based tokens, but continues to highlight BONK as well.
what would happen to $BONK if it were to get an ETF, given the current backdrop and its strong fundamentals?
many continue to forget that BONK is one of the very few memecoins with an ETF filing submitted to the US SEC
imagine institutions finally getting the chance to buy the…— Unipcs (aka 'Bonk Guy')
(@theunipcs) July 24, 2025
Still, risks remain. BONK is currently riding bullish sentiment, but its long-term prospects depend on the success of the launchpad and its ability to compete. If PENGU, a current market favorite, continues to rally, liquidity could rotate out of BONK.
$50M of $BONK sold through galaxy to unwind and now nearly completely absorbed by market
Pengu suspects likely a fund who was forced to liquidate positions to cover losses or close the fund$BONK can be slowed but $BONK new ATH is inevitable https://t.co/eaMQH0fhGY— Kadense Pengu°
(@iamkadense) July 28, 2025
Is DOGE Price Finally Breaking Out?
Dogecoin is the original meme coin and remains the most recognizable in the sector. Elon Musk’s favorite token remained mostly flat throughout 2024, but didn’t lose much ground either. In July, however, DOGE price gained nearly 50% over the past 30 days — a pattern similar to the March–April period earlier this year.
DOGE still has one of the strongest communities in crypto and benefits from its status. What’s unclear is the exact trigger behind this rally — whether it’s simply a broader shift in sentiment or a reaction to the wider meme coin surge.
Famous meme coin trader Marcell recently added DOGE to his watchlist, which already includes Floki, another older meme coin that’s also trending in July.
This will probably be my biggest call ever
Goal for #USELESS is 5-10 billion atleast $DOGE $FLOKI$PEPE$SHIBA$WIF #FARTCOIN
Etc all went from 2 billion to 88 billion in much worse times $BTC is at ATHs and the whole crypto market is going to go in a huge euphoric run… pic.twitter.com/IlSnT8rVAX— Marcell (@MarcellxMarcell) July 28, 2025
Trader Cas Abbé also pointed to DOGE’s weekly MACD, which recently made a bullish crossover — a signal that previously led to price increases.
$DOGE weekly MACD bullish cross has happened.
In Q4 2023, DOGE pumped 250% after a bullish cross.
In Q4 2024, DOGE pumped 200% after a bullish cross.
So far, DOGE has pumped 30% after the golden cross which means bigger moves are yet to come.
And what'll happen during that?… pic.twitter.com/AwljY7kTSn— Cas Abbé (@cas_abbe) July 23, 2025
Is FLOKI Riding the BNB Wave?
FLOKI, another veteran meme coin, is part of the BNB Chain ecosystem. It surged by around 80% in July alone. Like many meme coins, it has a loyal community, but some believe it’s also riding the success of BNB itself, which hit a new all-time high above $850 on July 28 — up roughly 30% for the month.
FLOKI’s price action hasn’t been as aggressive as BONK’s, which may make it more appealing to traders looking for upside. Many see the $0.00035 level as key resistance. FLOKI currently trades near $0.00013.
$BTC vs. $BNB vs. $FLOKI pic.twitter.com/TDZJVQJtty
— Cryptollica
(@Cryptollica) July 27, 2025
Unipics has also backed FLOKI. While that may be a green flag for some, it’s important to remember the risks. Meme coins typically lack real utility and often rely on community strength and brand recognition. Popular traders can help boost visibility, but they don’t control long-term performance. If prices fall, the same communities may rush to exit.
$floki is arguably the most ignored and underrated memecoin on CT
and besides @Bluntz_Capital, @MacroCRG, @ColdBloodShill, and @honey_xbt (all of whom, ironically, have a track record of taking non-consensus trades on CT and winning consistently), I rarely see anyone talking… pic.twitter.com/HBbjyD5Ixn— Unipcs (aka 'Bonk Guy')
Final Thoughts
Meme coins often lead the market during speculative rallies, but trading them comes with high risk. Investors should do their own research and review charts before jumping in. These tokens remain among the most divisive in crypto — with some arguing they attract liquidity and others claiming they damage the industry’s reputation. Solana founder Anatoly Yakovenko recently called meme coins “digital slop” during a debate on X. However, their ability to drive revenue to blockchains is hard to ignore.
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