Next Memecoins to Explode, December 20 – DOGE, PENGU, SHIB

Highlights:

• Dogecoin has broken a long downtrend and is holding near key support with room to test higher levels.
• Pudgy Penguins is showing signs of stabilization after a long drop as selling pressure fades.
• Shiba Inu is holding above recent lows inside a falling channel and may attempt a slow rebound if market confidence improves.

The crypto market is up today as it recovers from months of downward movement. Macroeconomic factors, such as the recent job data, have boosted confidence in the market as hopes for a federal cut loom. The total market cap is up 2.23% to $2.99 trillion at press time. However, the trading volume is down 23.85% to $106.79 billion in the past day.

The fear and greed index is in the fear zone at an index of 27 after dropping to extreme fear in recent weeks. Meanwhile, the total liquidations in the last day totaled $218.69 million, with short positions taking the largest share. The memecoin market cap is up 10.7% to $43 billion, and the trading volume stands at $3.9 billion, according to CoinGecko data. With the memecoin market recovering by double digits, here are the best memecoins to buy.

Next Memecoins to Explode

1. Dogecoin (DOGE)

The largest memecoin by market cap is trading at $0.1311, a 4.54% increase in the past day. However, the trading volume is down 38.94% to $1.19 billion, while the market cap stands at $22.03 billion.

According to a recent analysis by Trader Tardigrade, Dogecoin is moving upward after breaking a long descending trendline, which signals a clear shift in short-term direction. Previously, the price respected this trendline and printed consistent lower highs. However, recent candles have pushed above it with strong momentum. This move suggests sentiment is turning positive after prolonged pressure.

The immediate support now sits near $0.128, which acted as a consolidation base before the breakout. Below that, $0.122 remains a critical downside level from the recent sweep. Meanwhile, resistance appears near $0.135, where the price stalled earlier. A sustained push above this zone opens room toward $0.145.

2. Pudgy Penguins (PENGU)

PENGU is trading at $0.009249, a 2.74% increase over the last 24 hours. The market cap stands at $581.45 million. Meanwhile, the trading volume of the memecoin has dropped by 41.66% to $130 million.

PENGU is moving sideways on the daily chart after a prolonged decline. The price recently dipped toward the $0.0090 area, which marked the local low. Since then, it has stabilized and begun compressing near the descending trendline. This behavior reflects cooling selling pressure and cautious positioning. As a result, the direction is leaning toward a potential relief move.

A strong support sits near $0.0090, which continues to hold despite repeated tests. Below that, $0.0075 remains the last major defense. Meanwhile, the resistance aligns near $0.0237, which capped previous rebounds. To add to the bullish momentum, the RSI is rising from weak levels, which suggests improving momentum. If strength persists, PENGU could target an advance toward $0.016 in the upcoming bull cycle.

3. Shiba Inu (SHIB)

SHIB is trading at $0.000007427, a 2.27% increase in the past day. However, the trading volume has decreased 45.12% to $105.8 million. Meanwhile, the market cap of the memecoin stands at $4.37 billion.

SHIB is attempting to stabilize after a prolonged decline within a well-defined descending channel. However, the price now holds above the recent swing low near $0.0000070. Meanwhile, the resistance aligns near $0.0000085 and then $0.0000098.

The support remains firm between $0.0000070 and $0.0000073, which previously attracted strong reactions. If momentum improves, SHIB could attempt a recovery toward the upper channel zone.