$PEPE and $BONK Surge Ahead: Why Meme Season Might Just Be Getting Started

As the broader crypto market warms up and altcoin season teases its return, two iconic memecoins—PEPE and #BONK —are showing serious signs of life. While some may have written off the meme token narrative as short-lived or unsustainable, on-chain data and technical indicators tell a very different story.

#PEPE is regaining virality, while BONK is quietly morphing into a key infrastructure player on Solana. Together, they’re creating a dual threat that’s reshaping the perception of meme tokens—one fueled by culture, the other by utility.

PEPE's Viral Momentum Returns Amid Whale Accumulation

After months of consolidation and sideways action, PEPE is officially back on the radar. According to Google Trends, search interest for PEPE surged by 300% in July, signaling renewed retail curiosity. This uptick in visibility was quickly mirrored on-chain, as trillions of tokens changed hands and whale wallets began accumulating heavily during price dips.

Technical Breakout Confirms Bullish Setup

PEPE broke out of a multi-month descending channel in April and followed up with a clean retest five days later. It also formed a double-bottom pattern around the $0.00000568 level, reinforcing bullish sentiment among technical analysts. From a structure perspective, the next resistance zones lie between $0.000014 and $0.000016, with breakout targets potentially reaching $0.000025 or higher if sentiment and volume align.

Even more telling, PEPE’s NVT ratio—a key metric comparing market cap to transaction volume—is trending lower. This indicates that network usage is catching up with price, a rare bullish signal for meme tokens historically known for overvaluation.