Crypto Market Rollercoaster: BONK, PENGU, and the Winners & Losers This Week

Meme coins like BONK and PENGU surge while others crash. What's driving the crypto market's wild swings and who came out on top?

Hold onto your hats, crypto enthusiasts! This week has been a wild ride, with meme coins soaring and others crashing back down to earth. Let's dive into the winners and losers, with a special focus on the meme coin madness surrounding BONK and PENGU.

Meme Coins Take Center Stage

Forget utility, this week was all about the hype. Capital rotated heavily into meme coins, leaving utility-focused projects in the dust. The top three gainers were all meme tokens, boasting double-digit gains.

BONK: Solana's Breakout Star

BONK, the Solana-based meme coin, led the charge with a nearly 50% jump, trading around $0.000020. It smashed through resistance zones after rebounding from its 60-day low. However, watch out! The RSI is flashing overbought signals, and a bearish MACD crossover could hint at a pullback. If bulls can hold current levels, a short squeeze might propel BONK toward $0.000025. Otherwise, look for a potential dip to $0.000017 support.

PENGU: Riding the Wave, But Is the Tide Turning?

Pudgy Penguins (PENGU) secured the second spot, surging 38% to close at $0.015. While impressive, it fell short of the previous week's 60% breakout. Sellers are re-entering, suggesting bullish fatigue. Unless buyers step up with volume, PENGU might slide back toward the $0.012 demand zone.

FARTCOIN: A Novelty with Staying Power?

Fartcoin (FARTCOIN) rounded out the top three with a nearly 20% gain, tagging $1.30. Despite overhead supply, strong buyer defense is holding above the key $1 psychological level. While short-term momentum has cooled, FARTCOIN has entered a tight consolidation range. Volumetric spikes could signal the next leg up.

The Downside: Losers of the Week

Not everyone can be a winner. Pi (PI) led the losers, dropping nearly 15%. Jito (JTO) posted a 14.5% weekly loss after failing to break through a key resistance ceiling. Kaia (KAIA) erased all its two-week gains, closing the week with an 11% decline.

Trump's Tax Bill and Crypto: A Tangential Impact?

The recent signing of the tax bill by President Trump could have an indirect impact on the crypto market. While it lacks crypto-specific tax deductions, the overall revisions to the economy may affect investments in digital assets. Increased consumer spending could boost demand for alternative assets like Bitcoin. Market instability and fiscal policy uncertainty might also drive investors to Bitcoin as a store of value. A survey indicated that over 70% of crypto investors are optimistic about Trump's digital asset policy.

Final Thoughts

This week in crypto was a whirlwind! Meme coins grabbed the spotlight, while others faced harsh corrections. Remember to do your own research, stay vigilant, and trade smart. Who knows what next week will bring? Maybe dog coins will make a comeback? Only time will tell!