The meme coin market ended August on a weak word, rising simply 1.3% over the previous week and staying principally flat. During the last 30 days, main tokens stay deep within the purple — with PEPE down 13%, TRUMP 12%, BONK over 32%, and SPX greater than 42%.
Whereas sentiment stays muted, on-chain knowledge and technical setups recommend a possible shift. As September begins, three meme cash stand out for his or her accumulation patterns and worth constructions.
Bonk (BONK)
Regardless of falling 32% over the previous 30 days and barely transferring within the final week, BONK could also be making ready for a rebound. Whale wallets have elevated their holdings by 16.22%, elevating their stash to 2.51 trillion BONK.
At at present’s worth of $0.0000215, that addition is value greater than $7 million.
On the similar time, exchanges noticed 1.61% outflows, displaying that retail continues to promote whereas whales accumulate. This divergence usually precedes stronger strikes, and it’s a key cause why BONK is among the meme cash to look at in September.
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The BONK worth trades close to $0.0000216 at press time, a key support-turned-resistance. A breakout above $0.0000239 may arrange upside momentum, with $0.0000282 being the bigger set off.
Nevertheless, a fall under $0.0000195 would invalidate the bullish setup.
With the Bull Bear Energy (BBP) indicator displaying weakening bearish power, BONK is perhaps extra primed for an upside transfer in September.
Pudgy Penguins (PENGU)
PENGU, tied to the Pudgy Penguins NFT model, dropped practically 25% this month and has traded principally flat within the final week. But whales proceed to quietly construct, making it one of many meme cash to look at in September.
Their balances grew 1.77% to 2.45 billion PENGU, whereas the highest 100 addresses added 0.13% to achieve 74.66 billion. At $0.030, these massive holder additions are valued at $4.2 million.
Exchanges, in the meantime, misplaced 2.55% of provide, value $12.60 million, underscoring ongoing retail exits and weakening promote strain.
On the technical aspect, the Parabolic SAR — a trend-following indicator that locations strains above or under worth to point out momentum path — has flipped bullish, now showing underneath the PENGU worth candles. Mixed with its broader 174% three-month rally, the uptrend stays alive.
Key ranges to look at are $0.031 and $0.036. A clear transfer above these may pave the best way to $0.041 and a robust September restoration for PENGU.
A dip under $0.028 would negate the bullish thesis, however it will curiosity the brief merchants. Both manner, PENGU does look certified as one of many meme cash to look at in September.
Dogecoin (DOGE)
DOGE, the OG meme coin, has been comparatively steady in comparison with its friends. It’s down solely 2.2% over the previous month, traded flat most of August, however has gained 2.4% this previous week and is up 9% over three months.
Giant holders have taken word. Between August 27 and 28, mega wallets (1 billion DOGE or extra) raised their balances from 71.24 billion to 71.62 billion DOGE — a 0.53% improve, value round $84 million at $0.2230. This type of accumulation makes DOGE one of many meme cash to look at in September.
However that’s not all. For the higher a part of the final week, Dogecoin bears have been slowly shedding floor, per the Bull Bear Indicator. The final time this setup occurred between August 20 and 21, the DOGE worth jumped from $0.20 to $0.24 in hours. The identical setup may play out once more.
At present, DOGE trades between $0.2176 and $0.2248. A push above $0.2449 is vital for unlocking upside, whereas a drop under $0.2058 dangers a slide towards $0.1884.
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