Next Memecoins to Explode, February 8 – Pudgy Penguins, Fartcoin, Shiba Inu

Highlights:

• Coinbase is launching futures trading for PENGU, driving higher market activity and increasing liquidity for the token.
• Large investors are buying millions of Fartcoin during the market dip, expecting the price to recover in the future.
• Shiba Inu has partnered with the UAE to develop Web3 solutions that will support growth in energy and infrastructure.

The cryptocurrency market continues to bleed in red for the second consecutive day, with most of the top 20 coins trading in the red zone. The crypto market cap has declined by 1.43% to $3.14 trillion in the past 24 hours. However, the trading volume has gained 5.13% to $132.02 billion. Data from Coingecko shows that the memecoin market is down by 0.6% today to $73 Billion. The crypto market is down today due to a market correction that started at the end of January. Crypto liquidations have hit $250 million in the past day.

Despite the bearish mood, memecoins offer the best entry point for new investors and provide quick investment returns. These memecoins are set to explode and offer the best investment choices today.

1. Pudgy Penguins (PENGU)

PENGU is currently trading at $0.01009, which represents a 5.23% decrease over the last 24 hours. The market cap stands at $634.24 million, and the trading volume has increased by 34% to $174.77 million. The coin has gained 101% in the past year.

The increased trading activity is due to Coinbase launching perpetual futures contracts for Pudgy Penguins (PENGU), Popcat (POPCAT), and Helium (HNT). These markets will open on or after February 13, 2025, at 9:30 am UTC.

@CoinbaseIntExch will add support for PENGU, Popcat, and Helium perpetual futures on Coinbase International Exchange and Coinbase Advanced. The opening of our PENGU-PERP, POPCAT-PERP, and HNT-PERP markets will begin on or after 9:30 am UTC 13 FEB 2025. $PENGU $POPCAT $HNT pic.twitter.com/RDn3VBjhTU

— Coinbase International Exchange 🛡️ (@CoinbaseIntExch) February 6, 2025

Coinbase aims to expand its derivatives market with these contracts. Perpetual futures will offer traders leveraged exposure and improved risk management. Increased market liquidity and trading volume are expected for all three assets. Futures markets often attract both institutional and retail investors.

Meanwhile, Pudgy Penguins recently burned over $150 million in unclaimed Solana-based PENGU tokens. The project ended its claim period early on February 5, 2025. Initially set to end on March 9, the decision came after most NFT owners claimed their tokens.

2. Fartcoin (FARTCOIN)

Fartcoin is trading at $0.44 with a 2.87% decrease in the past 24 hours. Its market cap has decreased to $439.97 million. The trading volume has decreased 0.32% in the last 24 hours to $226.15 million. The coin has tumbled 51.09% in the past one week.

Despite the bearish mood, two whales recently bought 6 million Fartcoin tokens during the market dip. A blockchain tracker reported that the whale “Ansem” bought $818,000 worth of tokens at an average price of $0.4142. Ten days ago, he sold all his holdings at $0.93 and secured a $4.1 million profit.

两大巨鲸 / 聪明钱正在加仓 $FARTCOIN 🔍

1️⃣ Ansem
11 小时前以均价 $0.4142 加仓 81.8 万美金的代币，目前持仓 197 万枚，单币已累计获利 411 万美金https://t.co/zqatuTnRom

2️⃣ 新地址 59aZn…x5732
9 小时前从 #Kraken 提出 500 万枚代币（229 万美金），提出价格 $0.4574… https://t.co/Y8TJUZWIhO pic.twitter.com/YSD35ohDl3

— Ai 姨 (@ai_9684xtpa) February 7, 2025

Another whale, “59aZn,” purchased 5 million tokens at an average price of $0.4574. Whale Watch also detected another buyer acquiring $44,050 worth of the memecoin. Whales see the dip as a buying opportunity. They expect potential returns as market conditions improve.

Meanwhile, the crypto analyst ElonMoney explained the reason behind Fartcoin’s decline. He stated that the broader altcoin market is facing downward pressure. AI-related tokens and other assets are also following this trend.

3. Shiba Inu (SHIB)

SHIB is trading at $0.00001514, reflecting a 0.54% increase over the past 24 hours. The coin has gained over 63% year long and is expected to surge further. The trading volume of the coin stands at $329.64 million, which is a 10.38% decrease over the past 24 hours. The market capitalization has increased to $8.92 billion.

A Shiba Inu whale recently moved 3.36 trillion tokens worth $51.15 million. The transaction occurred between two unknown wallets. This large transfer sparked speculation among investors. Whale movements can influence market trends and investor sentiment.

Whale holdings remain a major factor in the market dynamics of SHIB. The top 10 largest wallets control 61.3% of the total supply. This concentration has raised concerns for smaller investors. Meanwhile, the UAE Ministry of Energy and Infrastructure partnered with Shiba Inu. The collaboration aims to advance Web3 solutions in energy and infrastructure.