We consider the space $D(X,Y)$ of densely continuous forms introduced by Hammer and McCoy and investigated also by Holá. We show some additional properties of $D(X,Y)$ and investigate the subspace $D^*(X)$ of locally bounded real-valued densely continuous forms equipped with the topology of pointwise convergence $\tau _p$. The largest part of the paper is devoted to the study of various cardinal functions for $(D^*(X),\tau _p)$, in particular: character, pseudocharacter, weight, density, cellularity, diagonal degree, $\pi $-weight, $\pi $-character, netweight etc.