Next Memecoins to Explode, August 23 – PENGU, FARTCOIN, DOGE

Highlights:

• Pudgy Penguins has gained 14% in 24 hours, and traders eye a breakout toward $0.065.
• Fartcoin is trading near $0.94, with buyers protecting the $0.80 support, as a breakout over $1.60 could target $2.40.
• Dogecoin jumps 9% to $0.2376, and a move above $0.240 may open the path toward $0.260.

The crypto market is back on the green charts after the speech by Jerome Powell hinted at an upcoming rate cut in the next month. According to many prediction markets, the chance of a rate cut stands at more than 70%. As of press time, the overall market cap is up 4.02% to $4 trillion, while the trading volume is up 80.43% to $261.43 billion. The fear and greed index has remained in the neutral zone at an index of 56. According to CoinGlass data, the total liquidations in the past day come in at $767.54 million.

The memecoin market has followed the broad market rally and is up 10% to $78 billion. Most of the top 10 memecoins are trading in the green zone on the daily chart. As the market anticipates the rate cut, these are the next memecoins to explode.

Next Memecoins to Explode

1. Pudgy Penguins (PENGU)

PENGU is trading at $0.03559, a 14.11% increase over the last 24 hours. The market cap stands at $2.23 billion. Meanwhile, the trading volume is up by 219.42% to $1.01 billion. The coin has been on an upward trajectory, gaining 9.7% in the weekly chart.

PENGU has formed a bullish flag pattern after its strong rally from July lows. The price is consolidating inside a downward channel, which typically signals continuation. The lower support sits near $0.029, while resistance aligns at $0.036. A confirmed breakout above the channel resistance may push the price toward $0.043 first. The next upside targets are $0.047 and $0.053 based on Fibonacci extensions.

$PENGU has it all: ETF filing, Asia growth, millions in toy sales, and a bullish flag targeting $0.10! pic.twitter.com/ikd0bPrRkh

— Ali (@ali_charts) August 22, 2025

If momentum remains strong, the chart projects $0.065 as a mid-term target. The larger flag breakout also shows a possible extension to $0.095. According to analysts, holding above $0.029 support increases the probability of this bullish scenario.

2. Fartcoin (FARTCOIN)

Fartcoin, a Solana-based memecoin, is trading at $0.9440, with a 5.19% increase in the past 24 hours. The market cap has increased to $944.08 million. In addition, the trading volume is up 170.26% to $345 million.

Fartcoin is trading around $0.57 after a strong recovery earlier this year. The chart shows a clear parallel channel between $0.80 and $1.60, which forms the main consolidation zone. Buyers have continued to protect the $0.80 support level, while sellers cap gains near $1.60 resistance. A breakout above $1.60 could trigger the next bullish leg toward $2.20 and $2.40. However, a failure to hold above $0.80 risks deeper downside toward $0.60.

the last 4 month on $fartcoin was accumulation which has now come to an end. $2.2 next stop https://t.co/xGM5cv8UVG pic.twitter.com/6nEzQ3V5Pz

— Bluntz (@Bluntz_Capital) August 22, 2025

3. Dogecoin (DOGE)

The largest memecoin by market cap is trading at $0.2376, a 9.24% increase in the past day. In addition, the trading volume has increased 171.77% to $5.46 billion. Meanwhile, the market cap stands at $35.8 billion. The coin has increased 1.64% in the weekly chart.

Dogecoin is holding steady near $0.224 after a sharp rebound from the $0.210 support zone. Buyers have defended this level strongly, confirming it as an important demand area. If momentum continues, the price is facing immediate resistance at $0.240. A breakout above this zone could send Dogecoin toward $0.260, which has acted as a strong supply region in the past.

The sell wall for $DOGE exist around $0.28 pic.twitter.com/pYd1fkn9z5

— CW (@CW8900) August 23, 2025

Beyond that, resistance remains heavy at $0.290 and $0.360. On the downside, if the price fails to stay above $0.210, support levels at $0.200 and $0.185 may come into play. A deeper correction could test $0.165 if selling pressure builds.