The memecoin market erupted on Wednesday, following impressive gains by Dogecoin, Pepe, and Bonk. What Happened: The oldest and most popular memecoin, DOGE, snapped a week-long downtrend, to notch up gains of more than 4% in the last 24 hours. The coin’s trading volume surged 3.76% to over $1.2 billion in the last 24 hours. Solana (CRYPTO: SOL)-based memecoin BONK notched up healthy gains as well, reversing the string of losses seen over the past week. BONK’s trading volume soared 10% to $410 million. Frog-themed token PEPE saw volumes of more than $1.32 billion in the last 24 hours, exceeding…