Top memecoins to watch this week: Moo Deng and Bonk

Moo Deng and Bonk are expected to be in the spotlight this week as Bitcoin bulls attempt to push the bellwether asset toward a new all-time high.

The total cryptocurrency market capitalization rebounded 3.5% over the past 24 hours to reach $3.48 trillion, following two consecutive days of losses.

This recovery was catalyzed by Bitcoin’s successful defense of the $105,000 support level on July 2, which triggered a bullish reversal. 

The benchmark asset climbed to an intraday high of $109,600, reflecting a nearly 4% gain from its recent local bottom, before stabilizing at around $108,900. At that level, Bitcoin (BTC) is just $2,900 shy of retesting its all-time high, according to data from crypto.news.

With sentiment improving across both institutional and retail segments, analysts are now forecasting that Bitcoin could take aim at fresh all-time highs soon. 

In the meantime, select meme coins are drawing renewed interest this week, driven by a mix of broader market optimism and project-specific momentum.

Moo Deng 

Moo Deng (MOODENG) has staged a strong rally shortly after South Korean crypto exchange Upbit announced it would be listing the token today. The memecoin shot up 31% within 20 minutes as the exchange announced the listing, bringing its gains over the past 24 hours to over 45% as of press time.

A key catalyst for Moo Deng this week is the celebration of the baby pygmy hippo Moo Deng’s first birthday on July 10, 2025, a milestone that has become a recurring viral event among the token’s community.

Moo Deng was born at Thailand’s Khao Kheow Open Zoo and quickly became a global internet sensation thanks to her charm and meme-worthy behavior.

This year’s birthday marks the one-year anniversary of that viral surge. Prior celebrations, such as her 10‑month milestone in May, sparked widespread social media activity that coincided with brief but powerful crypto-market interest, lifting meme tokens and fan-themed NFT assets on speculation alone.

Traders expect a similar scenario to transpire this time as well. The enthusiasm among supporters is evident from the fact that despite a number of whales offloading their holdings ahead of the event, the meme coin has continued to rally, supported by retail demand.

Support from the community appears strong. On-chain data from Nansen shows exchange balances have fallen 12% over the past 24 hours, as more holders move their tokens off exchanges, often a sign they’re preparing to hold in anticipation of further gains.

On the daily chart, Moo Deng’s price remains firmly above both its 20-day and 50-day moving averages, signaling sustained bullish momentum and strong short-to-midterm trend support.

The token has also formed a round bottom pattern, a classic bullish reversal structure that often precedes extended upward moves.

Bonk

Bonk (BONK) was trading at $0.0000172 as of last check Thursday, afternoon Asian time, up 21% over the past 24 hours with a market cap of $1.3 billion.

Traders are closely following Bonk this week as the project’s team revealed it will be burning 1 trillion BONK tokens once the emecoin hits the 1 million holders milestone. With the metric currently standing at 943.41k per data from CoinGecko Terminal, it will not be long before the threshold is hit.

When tokens are burned, they’re permanently removed from circulation, a move traders often view as bullish since reduced supply can amplify price impact if demand persists.

From a technical standpoint, Bonk has recently broken out of a falling wedge pattern on the daily chart, a bullish reversal formation that typically precedes sustained upward movement. The token is also holding above its 50-day exponential moving average, reinforcing short-term bullish momentum.

Meanwhile, the MACD indicator has flipped positive, with the signal line pointing upward, indicating a possible shift in momentum in favor of buyers.

Taken together, these technical signals suggest a continuation of Bonk’s upward trajectory, especially if on-chain milestones such as the 1 million holders trigger the anticipated token burn. 

The convergence of strong chart structure, improving sentiment, and a forthcoming supply reduction places Bonk in a potentially favorable position for short-term price appreciation.