The meme coin market, including Dogecoin and Bonk, is back in green territory, adding nearly 3% in the past day. At press time, all meme coins now command a market cap of $71.8 billion, and Dogecoin, which is up 3% in the last 24 hours, has a market cap of $31 billion. Meanwhile, related trading volume is at $1.1 billion, nearly 10X that of Shiba Inu, which stands at $142 million in the same period.
Bonk, which is perched at fifth in the meme coin market, is firm, adding 3% in the past 24 hours. However, it is among the biggest losers in the top 10, shedding 15%.
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Is Dogecoin Ready For A Mega Bounce?
The spike in trading volume in
Dogecoin
0.26%
Dogecoin
DOGE
Price
$0.0837
0.26% /24h
Volume in 24h
$385.91M
Price 7d
suggests that traders are tracking the coin, expecting it to shake off the weakness of earlier this week.
Technically, DOGE is moving sideways. While confidence is high, bulls are yet to clear above $0.212, reversing losses of August 5.
A close above this local resistance could be the base for more gains towards July 2025 highs of $0.290.
For the uptrend to be valid, DOGE must hold above $0.185
Traders appear to be on the sidelines, waiting for clear trend definition.
The Fear and Greed Index as of August 7 is at 54, which is neutral.
Dogecoin Fear and Greed Index is 54. Neutral pic.twitter.com/FdmEvOaE3B
— Doge Fear and Greed Index (@DogecoinFear) August 7, 2025
On X, one trader thinks there is more room for gains.
$Doge/weekly#Dogecoin is moving within an ascending broadening wedge.
The next target at the top of the wedge is set at $1.4 🔥 pic.twitter.com/j5eYJOvojX— Trader Tardigrade (@TATrader_Alan) August 5, 2025
Based on his analysis, DOGE is moving inside an ascending broadening wedge. The next target, should the coin break higher, is $1.4.
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BONK Tumbles, Will It Break Lower?
BONK, which is one of the top Solana meme coins, is under pressure.
Despite initial optimism over the weekend, bears took over and pushed prices lower.
At press time, prices are still inside the August 5 bear engulfing bar; a signal of weakness.
For
Bonk
1.05%
Bonk
BONK
Price
$0.000005
1.05% /24h
Volume in 24h
$15.57M
Price 7d
buyers to take over, bulls must hold prices above $0.00002327. A close above $0.00002735, reversing losses of August 5, may likely open up the coin for more gains towards July highs.
On X, one analyst is convinced that though BONK faced strong rejection, the bullish structure remains, and prices would tick to July 2025 highs in a buy trend continuation formation.
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Is Maxi Doge Ready To Blow?
While confidence is high that Dogecoin and Bonk will tick higher, interest is shifting to a new presale: Maxi Doge.
The meme coin on Ethereum is described as Dogecoin’s “rebellious younger cousin.” The token targets degens who aren’t afraid of high volatility with maximum leverage, which can be as high as 1000X.
After launching on July 30, Maxi Doge has raised over $440,000 and is now considered one of the hottest crypto presales.
Presently, MAXI is available for $0.000251. You can buy MAXI using crypto or cash, but you must act fast. Token prices will increase in the next 36 hours.
Presale investors can also stake, receiving a 591% APY yield.
Over 1.2 billion MAXI tokens have so far been staked.
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Will Dogecoin Explode? BONK Drops As Maxi Doge Trends
- Dogecoin is steady but may rally
- BONK is under pressure and may extend losses
- Traders are bullish on meme coins
- Maxi Doge presale raises over $440,000
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