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 …
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