The Solana Ecosystem Shows Notable Shifts in the Memecoin Market, with PENGU Overtaking WIF in Market Capitalization

This rise comes alongside strong DEX trading, which topped $100 billion in volume for the second consecutive month. Memecoins like PENGU and WIF

Solana's memecoin market is seeing some big shifts, with PENGU now overtaking WIF in terms of market capitalization. This rise comes hand-in-hand with strong DEX trading, which has now topped $100 billion in volume for the second month in a row.

Memecoins like PENGU and WIF are leading the way, highlighting the growing appeal of Solana-based tokens. $PENGU's strong recovery and increased trading volume are also putting a spotlight on the token.

PENGU vs. WIF: Market Trend Comparison

Both PENGU and WIF have seen some notable price movements over the past week, with PENGU being the more volatile but resilient token. Initially, both tokens were trading even. However, PENGU saw a sharp mid-week decline, dipping below WIF's price.

But, PENGU made a strong recovery by the end of the week, closing near its starting value. In contrast, WIF lagged behind, struggling to regain momentum. This price action is highlighting PENGU's stronger recovery potential, which is attracting traders.

PENGU Shows Bullish Momentum – Key Levels to Watch

PENGU has experienced a significant bullish movement, rising from around $0.020 to its current price of $0.037. This upward momentum comes with increased trading volume, indicating strong buying pressure. Currently, $PENGU trades at $0.03707, reflecting a 4.43% gain in the past 24 hours.

However, the Relative Strength Index (RSI) is at 61.53, signaling that the token may be approaching overbought conditions. If the RSI crosses 70, we could see some resistance building up, potentially halting the upward trend. The Moving Average Convergence Divergence (MACD) also confirms the bullish trend, showing a positive crossover with rising histogram bars.

This technical indicator further supports the idea that PENGU may continue its upward trajectory soon. Investors should closely monitor key support levels at $0.030 and $0.025. These zones have previously held strong during periods of consolidation. Resistance levels at $0.038 and $0.040 are critical to watch for, as a breakout above these levels could push $PENGU to even higher prices.

WIF's Slow Recovery and Upside Potential

On the other hand, WIF is currently experiencing a slower recovery. After peaking near $3.50, the price has declined, consolidating around the $2.00 zone. Despite this, $WIF has gained 5.49% in the past 24 hours, with a price of $2.0740.

The RSI for WIF stands at 52.56, indicating mild bullish momentum. The MACD also shows a bullish crossover, suggesting that $WIF could rise further if the current trend persists.

Support levels for WIF are found at $2.00 and $1.80, which have previously held firm during pullbacks. Resistance is expected around $2.20–$2.30, near prior local highs, and $2.50, a level where selling pressure may increase. A significant resistance zone lies near $3.00, where a major downtrend reversal could occur.

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