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The recent heat in the Meme coin sector has clearly rebounded. Leading Meme coins like PEPE have collectively surged, driving the top project in the Solana ecosystem, $BONK, to follow suit — in the past 24 hours, BONK's price has increased by over 10%.
From a technical perspective, BONK broke through a key resistance level and entered a high-level consolidation phase. The short-term bullish sentiment is spreading throughout the market. Interestingly, there is a wave of optimism on social platforms regarding BONK's fundamentals, with many people starting to worry about missing out (FOMO sentiment is clearly rising).
Along with the increase in CEX trading activity, the overall activity level of the Meme coin sector has returned to a phase-high. How long this rebound can last depends on the market's subsequent movements.