Pengu and Bonk Prices Soar Through the Roof: Is Memecoin Season Back?

Meme coins are roaring back. According to data from CoinMarketCap, top memecoins like Bonk have regained bullish momentum, climbing up the charts. 

Bonk’s upside is currently fueled by ETF speculation and technical breakouts. At the same time, Pengu is up 75%, powered by whale accumulation and ETF whispers tied to the Pudgy Penguins brand.

Bonk’s ETF Spark Ignites Breakout

According to CoinMarketCap statistics, the price of Bonk has soared by 26.9% over the last seven days, breaking the powerful resistance at the level of $0.00001500-0.00001600. This is because the memecoin increased in price from the lowest point of $0.00001308 to reach the highest point of $0.00001736.

According to Justin Wu, one major driver is Tuttle Capital’s proposed 2× leveraged BONK ETF, which could launch as early as July 16. The Bonk team also announced on X that when the project hits 1 million holders, they would trigger a 1 trillion token burn. 

Meanwhile, technical indicators confirm that bullish momentum is rising. The RSI has crossed the midline, signaling bullish strength. At 53, the BONK price has potential for more upside before the RSI enters the oversold region.

Should the Bonk ETF launch, the memecoin could see further upside toward $0.000018–0.000021. Herron predicts that the Bonk price can reach up to 0.00005 in the next few months. The analyst believes the memecoin’s market cap could soon cross $10 billion.

Pengu Gains Momentum With Whale Inflows and ETF Buzz

Another memecoin that is gaining traction in the market is Pudgy Penguins. The meme coin is riding the wave of whale accumulation and ETF launch to new highs.

PENGU is up 2.58% on the 24H chart while printing double-digit gains on the 7D and 14D charts. Its market cap has crossed the $1 billion mark and may hit $2 billion before the end of the year. Investors’ interest surged after news of filings for a Canary PENGU ETF entered the news.

The ETF is an unprecedented memecoin/NFT hybrid fund proposed by Canary Capital via CBOE. Whale activity is growing, too. Nansen data indicates that the top 100 addresses have grown their holdings by 72.5 billion PENGU to 73.2 billion. This increase signals steady accumulation.

Also, the amount of PENGU coins on exchanges has dropped by 6% to 14 billion, a sign of accumulation. Ali Martinez, an on-chain chartist, believes the PENGU price chart is beginning to mirror the pattern PEPE displayed just before its explosive rally in 2024. 

According to him, if PENGU secures a daily close above the $0.015–$0.017 resistance zone, the momentum could become unstoppable. Martinez shared a chart indicating that, if the setup holds, the Pengu price could soar as high as $0.28.

Conclusion

Bonk’s breakout, spurred by ETF anticipation and technical strength, and Pengu’s explosive rally, backed by whale flows and ETF buzz, reflect a revival in meme-coin interest. If this bullish sentiment remains, the price of these top memecoins could skyrocket in the weeks ahead.