Bitcoin, Ethereum Ticked Higher But Dog-Themed Bonk Stole The Spotlight With A 33% Rally Last Week
The cryptocurrency market rose for the second week in a row, with meme coins and decentralized finance-based tokens powering the surge. What happened: Solana SOL/USD-based Fartcoin topped the gainers list with an astounding 83% rally over the previous week. The unconventional meme token hit a 5-week high of $0.56 on Sunday, blasting past the $550 million market capitalization. That said, the rally might not sustain itself for long. Influential cryptocurrency analyst Ali Martinez spotted a sell signal for the coin on the TD Sequential Indicator, indicating a potential pause or correction. CryptocurrencyGains +/-PriceFartcoin (FARTCOIN)+83.56%$0.5511PancakeSwap CAKE/USD+33.33%$2.65Bonk BONK/USD+25.91$0.00001344CAKE, the native token of decentralized exchange PancakeSwap, recorded yet another successful week, surging over 33%. The rise was likely aided by a 41% jump in trading volume on the platform over the week. Another Solana-based meme coin, BONK, capped the week as the market's third largest gainer, gaining over 25%. The canine coin jumped to a 3-week high. Widely followed cryptocurrency trader CW noted BONK's breakout from a falling wedge formation, widely interpreted as a bullish reversal pattern. $BONK has broken out of a falling wedge pattern.The rally is starting.There are only two sell walls above. As break through these sell walls, there are no more sell walls.The breakout of these two sell walls will signal the start of a bullish run for $BONK. pic.twitter.com/B4naK95Mkg— CW (@CW8900) March 23, 2025 See Also: Cathie Wood Believes Most Memecoins Will Face ‘Fearsome Declines,’ But They Could End Up Becoming Collector’s Items Market heavyweights Bitcoin BTC/USD and Ethereum ETH/USD also made meaningful strides last week, gaining 3.60% and 5.63%, respectively. The more established meme coins, however, struggled. While Dogecoin DOGE/USD barely changed with a 0.46% move, Shiba Inu SHIB/USD slid 3.45% over the week. Official Trump TRUMP/USD finished the week at a healthy 4.36% spike, bolstered by President Donald Trump's promotion. The total cryptocurrency market capitalization expanded 3.6% over the week to $2.83 trillion. Image via Shutterstock Read Next: Peter Schiff Slams Bitcoin ETFs, Calls Selling Gold For BTC ‘Worst-Timed Trade In History’ Market News and Data brought to you by Benzinga APIs© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.