PENGU Flipping WIF? Solana Memecoin Market Heats Up

• PENGU’s sturdy restoration and volatility sign rising investor curiosity in Solana.
• Solana DEX buying and selling quantity surpasses $100B for the second month, boosting confidence.
• WIF exhibits a gradual restoration, whereas $PENGU’s momentum factors to additional upside potential.

The Solana ecosystem exhibits notable shifts within the memecoin market, with PENGU overtaking WIF in market capitalization. This rise comes alongside sturdy DEX buying and selling, which topped $100 billion in quantity for the second consecutive month.

Memecoins like PENGU and WIF prepared the ground, highlighting the rising attraction of Solana-based tokens. $PENGU’s sturdy restoration and elevated buying and selling quantity recommend a shift in investor sentiment.

PENGU vs. WIF: Market Pattern Comparability

PENGU and WIF have seen notable worth actions over the previous week, with PENGU because the extra unstable however resilient token. Initially, each tokens have been even. Nevertheless, PENGU noticed a pointy mid-week decline, dipping beneath WIF’s worth.

Nevertheless, PENGU made a powerful restoration by the top of the week, closing close to its beginning worth. In distinction, WIF lagged, struggling to regain momentum. This worth motion highlights PENGU’s stronger restoration potential, attracting merchants.

PENGU Exhibits Bullish Momentum – Key Ranges to Watch

PENGU has skilled a major bullish motion, rising from round $0.020 to its present worth of $0.037. This upward momentum comes with elevated buying and selling quantity, indicating sturdy consumers. At the moment, $PENGU trades at $0.03707, reflecting a 4.43% achieve previously 24 hours.

Nonetheless, the Relative Energy Index (RSI) is at 61.53, signaling that the token could also be approaching overbought circumstances. If the RSI exceeds 70, resistance might construct, probably halting the upward development. The Shifting Common Convergence Divergence (MACD) additionally confirms the bullish development, exhibiting a optimistic crossover with rising histogram bars.

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This technical indicator additional helps the concept that PENGU could proceed its upward trajectory quickly. Buyers ought to intently monitor key help ranges at $0.030 and $0.025. These zones have beforehand held sturdy in periods of consolidation. Resistance ranges at $0.038 and $0.040 are vital to look at. A breakout above these ranges might push $PENGU to even increased costs.

WIF’s Gradual Restoration and Upside Potential

Then again, WIF is at present experiencing a slower restoration. After peaking close to $3.50, the value has declined, consolidating across the $2.00 zone. Regardless of this, $WIF has gained 5.49% previously 24 hours, with a worth of $2.0740. 

The RSI for WIF stands at 52.56, indicating gentle bullish momentum. The MACD additionally exhibits a bullish crossover, suggesting that $WIF might rise additional if the present development persists.

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Assist ranges for WIF are discovered at $2.00 and $1.80, which have beforehand held agency throughout pullbacks. Resistance is predicted round $2.20–$2.30, close to prior native highs, and $2.50, a stage the place promoting strain could improve. A big resistance zone lies close to $3.00, the place a significant downtrend reversal might occur.