PENGU briefly overtook BONK as the top Solana meme coin, signaling a potential shift in the meme coin leaderboard.
By Parth Dubey
Editor Julia Sakovich
Updated
3 mins read
While the broader crypto market is mostly flat on July 23, PENGU PENGU $0.0391 24h volatility: 4.2% Market cap: $2.47 B Vol. 24h: $2.19 B continues its explosive rally. Currently trading at around $0.043, it gained over 20% in the past day and over 400% in the last month.
This price surge pushed PENGU’s market cap to a daily high of $2.88 billion, briefly flipping its rival BONK BONK $0.000032 24h volatility: 10.0% Market cap: $2.50 B Vol. 24h: $1.61 B to become the largest Solana-based meme coin. However, at the time of writing, PENGU boasts a market cap of $2.72 billion while BONK comfortably sits at $2.84 billion.
This growth follows analysts on X predicting a “PEPE-style” rally for PENGU, which has already added over $2.2 billion to its market cap in the past 30 days. The token’s 24-hour trading volume currently sits at $2.73 billion, much higher than the $335 million trading volume of the second-largest meme coin, Shiba Inu SHIB $0.000014 24h volatility: 8.0% Market cap: $8.15 B Vol. 24h: $437.61 M .
This spike suggests heightened market interest and drives FOMOed traders into the market. Interestingly, PENGU has just crossed 868,000 holders, indicating growing retail participation.
On the 4-hour PENGU price chart, the RSI currently stands in the overbought region. This suggests that the token could see a short-term pullback or consolidation if buying momentum weakens. Traders should watch for key resistance levels at $0.045 and $0.050.
PENGU price chart with RSI and Bollinger Bands | Source: TradingView
The Bollinger Bands are expanding, with PENGU trading near the upper band. This is a sign of bullish momentum, but there is also potential for a mean reversion toward the middle band (20-day SMA) near $0.037.
If sellers take control and PENGU fails to hold above the $0.040 support level, it might have to retest this level in the near-term.
The MACD indicator shows a bullish crossover, with the MACD line moving sharply above the signal line, supporting the ongoing upward trend. If PENGU maintains current momentum and breaks above $0.045 decisively, a push toward $0.05 could follow.
PENGU price chart with MACD | Source: TradingView
However, the steep incline in the MACD line could lead to exhaustion if the momentum does not sustain.
Many market analysts on X are suggesting PENGU as one of the best crypto to buy this altcoin season, setting a price target of $1 by September-end.
Insane that $PENGU to $1 isn’t even unrealistic anymore.
I give it until end of September.
So many penguin millionaires in the making pic.twitter.com/hKUDnteozX
— N3ON 🍌 (@NeonApesYC) July 23, 2025
While PENGU continues its upward climb, TOKEN6900 ($T6900) is rapidly gathering steam. This token doesn’t pretend to be what it isn’t; it blends meme-driven hype with a manifesto that feels like internet chaos meets ironic economic rebellion.
$T6900 has no utility, no roadmap, and no hidden promises. It leans fully into its raw, post-ironic meme identity, existing purely as a digital embodiment of internet culture without apologies.
With a fixed supply of 930,993,091 tokens, TOKEN6900 serves as a tongue-in-cheek jab at traditional finance, echoing the spirit of SPX6900, the meme-led movement that once rattled the stock market’s fragile composure.
Having already raised over $1.02 million, $T6900 is moving quickly toward its presale target price of $0.007125 and a hard cap of $5 million, with its current price standing at $0.006675. The project is also attracting early adopters by offering a 62% APY for those who stake their tokens during this phase.
Presale Details:
Interested buyers can participate by visiting the official TOKEN6900 website and connecting a supported crypto wallet to secure their allocation before the next stage begins.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.