• FloppyPepe has become one of the most successful meme coins, generating huge initial returns and being a powerful community gastronomic force, not least on launch.
• The technical indicators suggest bearish pressure in top meme tokens, which slide below major moving averages and resort to key support areas.
• High volumes in PEPE, Pengu, and BONK could indicate high volatility, and traders are observing to see whether there will be a possible countermove or more retracement.

Meme coins are not a stagnant part of the crypto market, as communities fuel them, and the volatility is high. As meme coins feel the increasing selling pressure, others have brought in exceptional returns. The latest startup in the meme industry, FloppyPepe, recently amassed $2.84 million in its launch campaign. Initial investors realized an impressive 1,800 percent ROI, which demonstrated that it was one of the best meme tokens of the year.

In contrast, established meme tokens such as BONK, Pengu, and PEPE are currently undergoing periods of market correction. These coins have fallen below key technical support levels, suggesting potential for either further downside or stabilization depending on market sentiment. Analysts continue to monitor volume spikes, support zones, and short-term moving averages to track the momentum shifts within this segment.

PEPE Enters Bearish Territory as Volume Climbs

PEPE  has seen continued selling pressure on the 1-hour Binance chart, with the price declining to $0.000001274. The token has broken below its 7-day ($0.000001316), 25-day ($0.000001370), and 99-day ($0.000001384) moving averages, confirming a strong bearish trend. These moving averages previously acted as dynamic support but have now turned into resistance levels that could hinder any near-term recovery.

The price currently hovers just above the lower Bollinger Band at $0.000001280, signaling the potential for short-term stabilization. However, the rise in trading volume, peaking at 361.94 billion, underscores increasing sell-side activity. This elevated volume often indicates aggressive positioning by sellers and could suggest further downside if no recovery follows. Traders will likely watch for how PEPE behaves around this band, as any breach could accelerate losses.

Pengu Pulls Back After Rally, Faces Support Test at $0.039

Pengu (PENGU) has entered a correction phase after experiencing a sharp rally earlier in the week. The token currently trades near $0.039485, reflecting a 1.93% intraday decline. Price action has moved below both the 7-day ($0.041669) and 25-day ($0.043013) moving averages, signaling that short-term momentum has shifted in favor of sellers.

Pengu is now testing the lower Bollinger Band at $0.039951, which could serve as temporary support if buyers return. Should this level fail to hold, the next significant area to watch is the 99-day moving average at $0.036441, which may act as a more substantial base. Volume remains elevated, hitting 182.462 million, which reflects increased market activity but not necessarily renewed buying interest.

BONK Faces Resistance Amid Downtrend, Trades Below Major Averages

BONK chart shows a continued downtrend. The asset is currently priced at $0.00003197, marking a 1.48% drop in the latest session. BONK has broken below critical technical levels, including the 7-day ($0.00003326), 25-day ($0.00003527), and 99-day ($0.00003439) moving averages. These levels now act as overhead resistance zones that may cap any recovery attempts.

The token also approaches the lower Bollinger Band at $0.00003191, which may provide short-term support. However, rising volume, now at 164.446 billion, suggests increased bearish activity. If the price continues to trend below this level, it could signal a deeper retracement in the sessions ahead.

FloppyPepe Gains While Meme Market Faces Divergence

The successful performance of FloppyPepe (the coin asked for 2.84 million and yielded 1800 percent ROI) shows that the meme coin market has permanent potential. As the first-movers enjoy their time in the momentum, early meme tokens such as PEPE, Pengu, and BONK can move within the turbulent price ranges.

The challenge of technical breakdowns of all these tokens points to close inspection of the volume up to the support levels and some critical moving averages. Depending on the reactions of buyers to these tests, the next step for each asset will be determined, particularly in market conditions characterized by extreme changes in market sentiment.