Solana’s $PENGU Meme Coin Surpasses Optimism in Market Capitalization – Is Meme Currency Making a Comeback?

Last evening, Solana’s latest meme coin, Pudgy Penguins ($PENGU), experienced a 7% increase, reaching a market capitalization of $2.85 billion.

This indicates that the emerging meme coin has surpassed Ethereum Layer 2 protocol Optimism ($OP), making it the fifty-eighth largest cryptocurrency by market cap and the fourth largest meme coin.

According to DappRadar’s data for the past 24 hours, Pudgy Penguins is currently the leading NFT project globally, boasting a substantial 24-hour trading volume of $4.36 million.

Since Pudgy Penguins began trading last month, its price has consistently risen, as illustrated by the red line, while the green line indicating support levels has also increased in tandem.

Overall, meme coins are rebounding from a sell-off that occurred after Bitcoin’s price fell below $100k on December 19.

Source: TradingView

Currently, Pudgy Penguins has finally risen above the psychologically significant level, boosting the broader market along with it.

However, a correction appears to be on the horizon for Pudgy Penguins.

The token’s price, which had been diverging from its 30-day moving average earlier today, is now realigning with it.

Meanwhile, $PENGU’s relative strength index (RSI) is at 55 and is decreasing, indicating a growing sell-off as investors take profits from recent gains.

As $PENGU Enters the Top 100 Meme Coins, Wall Street Pepe Secures an Impressive $42.5 Million

Pengu is not the only contemporary meme coin attracting attention at the start of 2025. Wall Street Pepe ($WEPE) has drawn in investors, raising an astonishing $42.5 million during its presale, which may conclude as soon as February.

The presale’s success follows the trend set by Pepe Unchained, another highly popular Pepe-themed ICO that raised $74 million and provided 5x returns upon its launch.

What distinguishes $WEPE is its goal to democratize wealth, a vision that aligns with the fundamental principles of cryptocurrency. This is not just a speculative meme coin – $WEPE offers its holders exclusive trading insights and alpha calls, enabling them to evolve from casual traders to informed market participants.

Currently priced at $0.00036642, $WEPE is advancing rapidly, with the next price level just hours away. As the largest presale spanning 2024 and 2025, it is being compared to Dogecoin’s “Doge Army” for its fiercely dedicated “$WEPE Army.”

This community, now with 45,000 followers across X and Telegram, is poised to challenge whales by making optimal trading strategies accessible to everyone.

Bulls cheering. Bears trembling. Excellent. pic.twitter.com/xe36w1GnR5

— Wall Street Pepe (@WEPEToken) January 6, 2025

With influencers like Cilinix Crypto forecasting a potential 10x return, Wall Street Pepe is reshaping the narrative surrounding meme coins.

Join the $WEPE Army today by purchasing $WEPE through ETH, USDT, or bank card, and connect with its growing community on X and Telegram.

The post Solana’s $PENGU Meme Coin Overtakes Optimism in Market Cap – Are Meme Coins Back? appeared first on Cryptonews.