Memecoin market cap hits $72B in July, driven by the Bonk memecoin’s 72% surge and LetsBonk launchpad’s rise.

Memecoin market cap grows 29% in July

Altcoins are flashing fresh bullish signals as momentum returns to the broader 
crypto market. Leading the charge is Ethereum, which has surged above the 
$3,450 level, marking its highest price since mid-January. The breakout 
signals growing confidence among bulls and is sparking renewed interest across 
the altcoin sector. Related Reading: Bitcoin Retail Demand Rebounds – $0–$10K 
Transfer Volume Turns Positive Many altcoins have posted impressive gains in 
recent days, bouncing sharply from their April lows. The recovery is not just 
isolated to top names like ETH and SOL; mid- and small-cap tokens are also 
showing signs of strength, supported by increasing volume and improved market 
structure. A key technical development is adding weight to the bullish case: 
the altcoin market has once again pushed above a key daily moving average. 
This historically significant level often marks the transition from downtrends 
to sustained uptrends. Altcoins Reclaim 200-Day Moving Average Altcoins are 
showing renewed strength, and according to top analyst On-Chain Mind, the 
technical landscape is beginning to shift in their favor. In a recent chart 
shared on X, he highlighted that the altcoin market has once again broken 
above its 200-day moving average, a level that historically separates bearish 
phases from sustained uptrends. However, On-Chain Mind cautioned that this 
development has occurred multiple times during this market cycle, often 
followed by weeks of sideways chop and volatility rather than immediate 
upside. Still, this time may be different. With Ethereum rallying above 
$3,400—its highest level since mid-January—and Bitcoin consolidating above key 
support zones, conditions appear more favorable for a broader altcoin 
breakout. What makes this moment particularly important is the price structure 
across many altcoins, which has turned decisively bullish after months—and in 
some cases, years—of deep consolidation. Tokens across sectors such as DeFi, 
Layer 1s, and infrastructure are forming higher lows and showing clean 
breakouts on higher timeframes, indicating growing demand and fresh capital 
rotation. Related Reading: SharpLink Gaming Buys Another $19.5M In Ethereum: 
Institutional Accumulation Continues Altcoin Market Cap Breaks Out Past $1.4 
Trillion The Total Crypto Market Cap excluding Bitcoin (TOTAL2) has rallied to 
$1.42 trillion, posting a +9.68% weekly gain and reaching its highest level 
since March 2025. This powerful move confirms a breakout above the 50-week, 
100-week, and 200-week moving averages, signaling broad-based strength across 
the altcoin market. One key technical milestone is the bullish crossover of 
the 50-week SMA above the 100-week SMA. Meanwhile, the 200-week SMA—now 
positioned near $880 billion—has acted as strong support during previous 
corrections and continues to provide a solid foundation for the current 
uptrend. Related Reading: Bitcoin Bears Strike Back After ATH: Long/Short 
Ratio Flips Negative Ethereum’s breakout above $3,450 has been a key driver, 
supported by renewed retail activity and bullish sentiment. If TOTAL2 holds 
above $1.4 trillion, the next resistance target is the $1.6 trillion level, 
last tested earlier this year. A sustained move toward that range could 
confirm the beginning of a long-awaited altseason. Featured image from Dall-E, 
chart from TradingView

Altcoins Reclaim Key Technical Level – Can Momentum Sustain This Time?

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