The memecoin market has seen significant activity in April, with Fartcoin and PENGU dominating the scene. Fartcoin experienced a surge of 173% and currently holds a market cap of $1.14 billion. Whale purchases have added to the coin’s volatility and bullish sentiment. PENGU, on the other hand, saw a weekly gain of 136.35% but experienced a slowdown in monthly growth. Despite this, PENGU maintains a bullish market structure and has seen increased volume due to institutional and retail interest.
Solana-based tokens have been making waves in April, with Fartcoin taking the lead as the top-performing solana memecoin. It currently has a market cap of $1.14 billion and a 24-hour trading volume of $255.86 million. PENGU, on the other hand, has seen a 7-day increase of 136.35% and a monthly climb of 102.02%. However, it has fallen in the monthly performance rankings of memecoins.
PENGU has outperformed TRUMP coin this week, with TRUMP coin rallying 62.42% but failing to gain the same level of traction. Other notable memecoins include Brett, which has experienced a monthly gain of 110.71%, and Bonk, which has reported a monthly return of 75.25%.
PENGU coin has shown strong bullish strength, rallying over 260% and breaking out from months of consolidation. Although the price has pulled back slightly, it remains near a key support zone. The RSI indicates that buyers are still in control, and the MACD shows a bullish crossover. If the price holds above the support zone, it could continue to climb towards higher levels.
FART Coin is following a classic bullish cup and handle pattern. After forming a rounded bottom, the price has completed the cup structure and formed a shallow handle. The immediate challenge lies at $1.30, which acts as the handle resistance. A breakout above this level could trigger a move towards resistance targets of $1.60-$1.80. The EMAs continue to align in a bullish manner, indicating sustained upward momentum.
Momentum indicators show positive momentum for both coins. The RSI is in a cooling-off zone, supporting continued bullish momentum. The MACD shows positive momentum with a bullish crossover.
Key levels to watch for FART Coin include maintaining the $1.00 support level and a breakout above $1.30. Upside targets are set at $1.60 and $1.80, while a downside risk zone exists if the price falls below $1.00.
In summary, Fartcoin and PENGU have dominated the memecoin market in April. Both coins have seen significant gains and maintain bullish market structures. Traders should monitor key support and resistance levels for potential price action.
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