The crypto market rallied today as the United States and the United Kingdom announced a trade deal. This bullish santiment extended to the meme coins as well.
BeInCrypto has analysed three meme coins for investors to watch, which emerged as the best performers today.
Peanut The Squirrel (PNUT)
- Launch Date – November 2024
- Total Circulating Supply – 999.85 Million PNUT
- Maximum Supply – 999.85 Million PNUT
- Fully Diluted Valuation (FDV) – $266.38 Million
- Contract Address – 2qEHjDLDLbuBgRYvsxhc5D6uDWAivNFZGan56P1tpump
PNUT has emerged as one of the top-performing coins today, surging 76% to reach a 2-month high. Currently trading at $0.279, the meme coin is facing the critical support of $0.260. Securing this support level is crucial to maintaining its recent gains and setting the stage for further growth.
To continue its upward momentum, PNUT needs to hold the $0.260 support and push towards $0.330. Breaching this resistance will confirm the current rally and also attract more investment, signaling the potential for a sustained uptrend. Investors will watch closely for this key price action.
However, if PNUT fails to secure the $0.260 support, it could see a significant decline. A drop below this level would send the coin towards $0.219 or lower to $0.182, invalidating the current bullish outlook. This would erase the recent gains and put the altcoin at risk of further losses.
Pepe (PEPE)
- Launch Date – April 2023
- Total Circulating Supply – 420.69 Trillion PEPE
- Maximum Supply – 420.69 Trillion PEPE
- Fully Diluted Valuation (FDV) – $5.52 Billion
- Contract Address – 0x6982508145454ce325ddbe47a25d4ec3d2311933
PEPE’s price surged 61% in the last 24 hours, pushing it above the $0.00001000 mark. The meme coin is currently trading at $0.00001331. This rapid increase has sparked investor interest, and PEPE is now targeting the next resistance level for further price gains, despite potential selling pressure.
PEPE is facing a key resistance at $0.00001369. Successfully breaching this level would pave the way for a move towards $0.00001489 and possibly $0.00001500. However, to maintain the uptrend, PEPE will need to avoid significant selling pressure from investors, which could prevent a sustainable rally.
If PEPE fails to break through $0.00001369, the coin could experience a pullback. A decline in the local support of $0.00001146 is possible, and if this level is lost, PEPE could fall below $0.00001000, heading toward $0.00000951. Such a move would invalidate the current bullish outlook and signal potential weakness.
Small Cap Corner – Fartboy (FARTBOY)
- Launch Date – January 2025
- Total Circulating Supply – 999.43 Million FARTBOY
- Maximum Supply – 999.44 Million FARTBOY
- Fully Diluted Valuation (FDV) – $35.77 Million
- Contract Address – y1AZt42vceCmStjW4zetK3VoNarC1VxJ5iDjpiupump
FARTBOY is attempting a recovery, posting a 52% rally today to reach $0.037. This price increase is part of its effort to recover losses from late March and early April. The meme coin’s positive momentum is gaining attention, as it moves towards stabilizing after a rough patch.
Bullish signals are evident for FARTBOY, supported by Nansen data showing 1.28 million FARTBOY worth $47,590 bought off exchanges. These metrics suggest growing demand and increased market interest in FARTBOY.
If the momentum continues, FARTBOY could reach $0.051, securing its recent gains and solidifying its recovery. However, failure to hold the $0.037 support level could result in a decline to $0.030. A drop to this level would invalidate the bullish outlook, possibly pushing the coin into further losses.
However, there are areas of concern. For instance, data from Soul Scanner shows that 37.97% of the supply was distributed via airdrops. In the case of meme coins, developers generally airdrop small amount of supply to numerous addresses, to show fake distribution of supply.
Moreover, 44.27% of tokens were bought in “bundled” transactions, which means that a small group of wallets acquired a large chunk in a short span. This suggests concentration of ownership or possible sybil manipulation, where a single entity uses multiple wallets to simulate activity or gain control.
In some cases, bundled buys indicate potential pump-and-dump setups, orchestrated by insiders or whales.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
