Recently, the Solana ecosystem has seen significant movement in the meme coin market. In particular, the competition between PENGU and WIF tokens has attracted attention. While PENGU has managed to overtake WIF in terms of market capitalization, this rise is supported by the trading volume of the Solana-based decentralized exchange (DEX) exceeding $100 billion for the second month in a row.
PENGU$PENGU
, experienced a sharp decline in the middle of the week, but made a strong recovery towards the weekend and regained value. Currently trading at $ 0.03707, the token has increased by 4.43% in the last 24 hours. Technical analysis indicators point to PENGU's bullish potential. The RSI is at 61.53 and is approaching the overbought zone. The MACD is in a positive trend and is giving bullish signals. While the critical support levels are $ 0.030 and $ 0.025, the resistance levels stand out as $ 0.038 and $ 0.040. Exceeding these levels could strengthen PENGU's uptrend.
WIF$WIF
has been consolidating at $2.00 levels after falling from $3.50 levels in recent weeks. However, it has risen by 5.49% in the last 24 hours to $2.0740. Technical indicators are signaling a more moderate rise. The RSI is at 52.56 and is moving in the neutral zone. The MACD is in an uptrend and is producing positive signals. The critical support levels for WIF are $2.00 and $1.80, while the resistance levels are $2.20, $2.50 and $3.00. Especially breaking the $3.00 level could be the beginning of a strong uptrend for WIF.
Solana network$SOL
, continues to provide an attractive environment for meme coin projects with its low transaction fees and fast transaction times. The decentralized exchange (DEX) trading volume exceeding $100 billion for two consecutive months reinforces investors’ confidence in Solana-based projects. This increases interest in projects within the Solana ecosystem, increasing the popularity of meme coins.
While PENGU is showing a strong recovery and technical bullish potential, WIF is in a more cautious but steady recovery process. Both tokens are managing to keep investor interest alive and price movements are shaped by critical support and resistance levels. While the resistance levels of $0.038 and $0.040 are of great importance for PENGU, breaking the $3.00 level for WIF stands out as a significant breaking point.