This week's spotlight memecoins: PENGU, BONK, POPCAT, SNORT

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Meme coins such as PENGU, BONK, POPCAT, and SNORT have begun to show signs of upward movement in the future. Recently, they have dropped to key support zones, but rebounds and changes in momentum are starting to be confirmed from there.

PENGU (Pudgy Penguins) is rebounding from the overlap zone formed by the uptrend line and the horizontal support zone (0.0088-0.0090). The RSI (Relative Strength Index) shows a bullish divergence, the MACD (Moving Average Convergence Divergence) histogram is flattening, and the signal line is approaching a bullish cross. However, the price of PENGU is still below the 20-day EMA (Exponential Smoothed Moving Average) and the 50-day SMA (Simple Moving Average), and the downtrend that began in May is still ongoing. To confirm the bullish turnaround, the price needs to break through and close clearly above the 0.012-0.013 resistance zone, where the recent swing high and the 50-day SMA overlap.

TradingViewBONK It has formed a descending wedge (a downward convergence chart pattern) on the daily chart and is currently rebounding from its lower trendline. Support has been established near the 0.00001370-0.00001410 area, and the upper resistance is located in the 0.00001650-0.00001680 zone, which is an important price range overlapping the 20-day EMA. A slight bullish divergence has been observed in the RSI, and despite the recent decline in price hitting new lows, the RSI has closed higher highs, suggesting a retreat in bearish momentum. In addition, the MACD histogram is also converging closer to the zero line, confirming the possibility of a turn to the upside. The next major resistance is near the 0.00001860 area, where the 50-day SMA overlaps with the previous support conversion resistance. Further around 0.00002100 is a horizontal resistance at the end of May, and eventually the wedge reading of 0.00002580 is considered as an upside target.

TradingViewPOPCAT has also formed a descending wedge pattern, rebounding at the lower line and establishing support near 0.29-0.31 recently. The upper resistance is near 0.37-0.38, which is consistent with the 20-day EMA, suggesting a possible breakout. A bullish divergence is underway on the RSI and the MACD histogram is also converging towards the zero line, so a bullish cross is expected in the near future. The next level to watch is 0.42, which is the zone where the 50-day SMA and the most recent swing high overlap. Above this, 0.50 will be the next target, and eventually the measurement target of 0.60-0.65 based on the initial swing high in the wedge will be in sight.

TradingViewSNORT It's a new meme coin that integrates a sniper bot available on Telegram with a fast token trading feature, and it's quickly gaining traction over the past week. After the initial pre-sale phase, initial support was established in the range of 0.0021-0.0023. The bulls entered from a healthy push. The current price action is closing the lows and the RSI is above the neutral level. The MACD has recently shown a bullish cross, and the histogram is also expanding. It is currently testing the short-term resistance between 0.0029 and 0.0030, which is the price range that formed during the initial liquidity surge. If this is breached, 0.0036 and even 0.0045-0.0050 based on the Fibonacci extension will be the next target. GIVEN ITS UNIQUE UTILITY, GROWING COMMUNITY, AND STILL SMALL MARKET CAPITALIZATION, SNORT IS ONE OF THE EMERGING STOCKS TO WATCH THIS WEEK.

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.