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Memecoin season is in full swing, with $PENGU leading the trend. In the past 24 hours, it has increased by 9.35%, and the weekly gain has reached 50.9%, making it a direct market focus.
The underlying logic is quite clear. First is the Memecoin rotation effect—mainstream coins like PEPE and BONK are also rising simultaneously, indicating an overall increase in capital allocation within this sector. Second, the NFT market is starting to take over, with Pudgy Penguins' weekly trading volume doubling by 50%, showing a clear rebound in demand. Lastly, technical analysis confirms this trend, as the price successfully breaks through the resistance zone, with a target level of $265K.
From a market rotation perspective, the linked movement of Memecoin and NFT reflects a phased increase in investors' risk appetite. Many traders are already closely monitoring relevant indicators and capital flows to seize trading opportunities brought by this upward trend.