Memecoin Market Witnesses Sharp Upward Shift in Momentum, Tracking Bitcoin's Gains Toward $100k

The memecoin market is witnessing a sharp upward shift in momentum, tracking broader gains in Bitcoin as its price edges close to the $100,000 mark.

The memecoin market is displaying a sharp upward shift in momentum, closely tracking broader gains in Bitcoin as its price edges closer to the $100,000 mark.

The sector has collectively risen by nearly 10% in the past 24 hours, with trading volumes also showing a substantial increase as risk appetite returns.

The sector has seen a collective rise of nearly 10% in the past 24 hours, with trading volumes also showing a substantial increase. This is fueled by a return of risk appetite and improving sentiment, which had dampened the memecoin market in Q1 2025.

As Bitcoin extends its bullish leg, top-performing meme tokens like Mog Coin (MOG), Pudgy Penguins (PENGU), Brett (BRETT), and Official Trump (TRUMP) are drawing investor interest due to sharp rebounds and breakout patterns that suggest further upside.

Mog Coin leads gains

Mog Coin (MOG) emerged as the top performer in the latest memecoin rally, adding nearly 40% to its price within a single trading session.

This surge coincides with Bitcoin’s upward move, which has significantly improved investor sentiment towards risk-on assets, particularly low-cap tokens.

The spike in volume and price signals increased speculative trading, typical of meme tokens during periods of high market volatility.

Analysts are closely monitoring MOG for signs of continuation above its short-term resistance, with broader market conditions likely to determine whether Mog Coin can sustain its gains.

(Chart: TradingView)

PENGU token shows early signs of recovery

Pudgy Penguins (PENGU) hit headlines earlier this year with a 2,000% price explosion shortly after launch, followed by a steep 92% correction from the highs.

Despite this pullback, the token is now showing early signs of recovery as its price trends higher.

After a period of low activity, trading in the PENGU token has picked up again in Q2, with volume exceeding $2.2 billion during recent rallies.

Technically, PENGU is displaying a parabolic price curve with support from a bullish Gaussian Channel and CMF divergence, indicating increased capital inflows.

The MACD remains in positive territory, suggesting upward momentum. If the current trend holds, PENGU could retest its neckline resistance near $0.042 in the short term.

Brett token approaches key zone

Brett (BRETT) is also a prominent participant in the broader memecoin surge, with its price rebounding sharply in an effort to regain a $1 billion market capitalisation.

The token has bounced back from a key support zone and is currently challenging resistance levels between $0.065 and $0.067.

Support from the 50-day and 200-day moving averages has helped to keep the token in a bullish structure.

The MACD is signaling a potential crossover, while selling pressure appears to be lessening, which could favor further gains for the token.

If the token manages to break through the current range, analysts expect a push toward $0.11.

TRUMP token stabilises after initial slump

The Official Trump (TRUMP) token has returned to the spotlight after an initial slump that was largely linked to profit-taking after the token’s breakout from its bearish pennant.

Following this breakout, the TRUMP token is now rallying again, supported by a steady rise in trading volume and a strengthening RSI.

Initially affected by reports of the US President’s team members offloading their token holdings, the TRUMP token has since stabilised.

Price action suggests that a retest of $13.50 is underway. If successful, TRUMP could extend its gains toward $16.50, especially if broader market conditions remain favorable for altcoins and meme assets.

Bitcoin breakout a key factor

The overarching driver behind the current memecoin rally is Bitcoin’s continued march toward the $100,000 threshold.

Should the flagship cryptocurrency manage to break above this psychological level, analysts suggest that another leg up in riskier crypto assets could follow.

Meme tokens often benefit disproportionately from euphoric market phases, making them potential short-term gainers but also exposing investors to elevated risk due to their rapid price swings.

Despite the technical setups favoring upside in several tokens, it’s crucial to remember that the memecoin market is largely driven by speculation.

Prices can shift quickly and react strongly to changes in sentiment, volume, and even social media trends, making it a volatile and unpredictable domain.

Traders are advised to maintain a cautious approach when navigating this unique space.