The memecoin space has recorded a sudden rise of nearly 10% since the past trading day, while the volume has also almost doubled. This rise is fueled by the Bitcoin bulls pushing the price close to $100K as the market sentiment has turned bullish after remaining skeptical for a long time. Meanwhile, the top two memecoins, Dogecoin and Shiba Inu, rise with a decent margin of around 5%. However, the others manage to surge with a huge margin, Mog Coin (MOG) being the top gainer with close to 40% gains.
Apart from this, the following memecoins are closely following the MOG price rally and are believed to explode once the BTC price surpasses the psychological barrier.
Pudgy Penguins (PENGU)
Pudgy Penguins received major attention from the beginning as the price initiated the trading journey with a 2000% rise. Besides, the volume also had soared by over $2.2 billion, which signaled a huge rise in the trading activity. Unfortunately, the rise remained for a short time as the bears intensified their action, causing a 92% drop from its highs. However, the beginning of Q2 has been largely bullish with a decent increase in volume, hence hinting towards a continuation of a strong upswing.
As seen in the above chart, the PENGU price is following a parabolic recovery curve and has intensified since the last week of April. The Gaussian Channel has turned bullish for the first time since February, and the CMF has displayed a bullish divergence, suggesting a rise in the money flow into the platform. On the other hand, the MACD remains within the positive range, showing a rise in buying pressure. Therefore, the PENGU price is expected to remain within the curve and reach the neckline close to $0.042.
Brett (BRETT)
Brett Price is on the rise, intending to reclaim the $1 billion market cap as the volume has almost doubled in the past couple of days. With this, the BRETT price triggered a strong bounce, which has helped the token to rise and test a key resistance zone. This level has been acting as a strong suppo