Next Memecoins to Explode, October 22 – DOGE, PENGU, BONK

Highlights:

• DOGE, PENGU, and BONK lead talks on the next memecoins to explode despite the market’s rough patch.
• Dogecoin nears a bullish breakout zone, hinting at a possible price reversal soon.
• PENGU and BONK show strong base support, suggesting momentum could swing upward in the coming sessions.

The global cryptocurrency market took another hit on Wednesday, October 22, with the global market capitalization declining by over $85 billion. This decline resulted in the crypto market cap dropping to $3.65 trillion, while trading volume surged to $225 billion. 

Similarly, the memecoin sector displays the same trend, with its market cap falling to $55 billion. Amidst this downturn, the market may be on the verge of a rebound. Here is a look at the next memecoins poised to explode, including Dogecoin, Pudgy Penguins, and BONK.

Next Memecoins to Explode

1. Dogecoin (DOGE)

The largest memecoin, Dogecoin, is trading on a negative note today following the broad market downturn. The memecoin is down by 1% over the past 24 hours, pushing the weekly decline to 7%. As of this writing, the price is hovering around $0.190 with a market cap of $28 billion.

Dogecoin exhibits a potential bullish formation as it reaches the end of a falling wedge in the 4-hour chart. Crypto analyst Trader Tardigrade noted that the price is approaching key support at the $0.19 level. The narrowing structure of the pattern typically indicates a potential reversal, especially if a breakout is confirmed by volume.

$Doge/4-hour#Dogecoin is nearing the verge of a falling wedge chart pattern, and its RSI is approaching support 🔥 pic.twitter.com/MfEVD8uX66

— Trader Tardigrade (@TATrader_Alan) October 22, 2025

Meanwhile, the Relative Strength Index (RSI) is approaching a key rising support region. Any recovery at this level would be a good sign of fresh purchasing interest. As the focus on the next memecoins to explode intensifies, investors must pay close attention to how DOGE responds to this technical picture.

2. Pudgy Penguins (PENGU)

PENGU, a memecoin tied to the Pudgy Penguins NFTs collection, declined 2.3% to $0.0208 as market volatility continues. The decline has accelerated the weekly and monthly declines to 15% and 30%, respectively. Despite the bearish trend, the trading volume has surged by 40% to 300 million, indicating increased activity in its market.

PENGU is showing new strength after weeks of volatility. Analyst Ali Martinez noted a TD Sequential buy signal, indicating new bullish movement. Stability around the levels of $0.021 to 0.022 is an indication of a strong base being established.

$PENGU is recovering fast as the TD Sequential buy signal gets validated. Momentum shifting higher! https://t.co/vVPOnCMoiQ pic.twitter.com/Joq5INnILy

— Ali (@ali_charts) October 20, 2025

Meanwhile, Greeny’s chart analysis shows PENGU is still in its golden pocket, at a range of $0.0209 to $0.0225. The next resistance would be around $0.030-$0.033, and a breakout price would target $0.045. This structure is one of the key inflection points that traders seeking the next memecoin to explode should watch in case of short-term continuation.

3. BONK

BONK is exchanging hands at around $0.0000141, with a market cap of $1.15 billion and a trading volume of $250 million. Following the recent market volatility, the memecoin has dropped by 12% and 30% on the weekly and monthly charts, respectively.

Crypto analyst TimelessBeing shared an insight regarding the recent chart structure of BONK. The weekly structure shows that the price is staying strong around an important area of support. A resetting of momentum appears to be occurring, and this usually indicates a change in strength. The volumes of trading are stable, meaning that traders are awaiting technical confirmation before they can invest further.

Momentum resetting is positive

Needs a few more weeks likely to get the mechanical signal

Ultimately a giant range with a big rotation to exploit

Base case: support around here and we move swiftly higher in a few months

Nothing has changed, bags are packed

ALL ABOARD $BONK pic.twitter.com/VLOlKNdWOO

— TimelessBeing (@Timeless_Crypto) October 22, 2025

The pattern, according to the analyst, defines a broad trading range with high rotation potential. A few additional weeks may be necessary before BONK can obtain a mechanical signal. In the case of a successful base, the movement may gain momentum in a few months, making it one of the next memecoins to explode.