In the recent days of the crypto market, if you only focus on #BTC and #ETH , you might have missed the two hottest shows in the margins of the crypto circle:
On one side, a cute fat penguin #pengu skyrocketed nearly 90% overnight due to a joke from Justin Sun; on the other side, the long-silent old project Stellar (XLM) strongly turned red within days, with a weekly increase of up to 92%! This directly attracted the attention of numerous speculators, analysts, and even institutions.
Today, let's discuss what has really happened behind them, and whether this round of market indicates: the next bull market's main line may not be among the projects you are familiar with.
🐧Behind the 90% surge of PENGU: A resonance effect triggered by an emoji?
Don't underestimate the power of memes in the crypto circle.
What is PENGU? Simply put, it is a memecoin deployed on the Solana network, inspired by the very popular NFT project 'Pudgy Penguins'. It originally had no significant activity, but recently exploded due to a small incident.
The starting point of the matter is that TRON founder Justin Sun suddenly posted a cartoon penguin image on X, featuring his signature hairstyle and wearing a TRON t-shirt, with the caption:
"Okay, everyone has become penguins."
In simple terms, a catchy image can ignite social media directly.
This tweet was passionately shared by the official PENGU account, instantly igniting the community atmosphere, and the meme spread rapidly, kicking off the first wave of momentum for the PENGU market. The feeling of FOMO hit hard, and PENGU's price soared nearly 90% within a week.
📊 How does the technical aspect look?
First, let's take a look at some key data:
RSI exceeds 81: this is already the limit of 'overbought', but the market hasn't calmed down because of it.
MACD continues to be bullish: histogram expands, and the trend line is still rising.
Trading volume remains high: indicating that funds are still flowing in, selling pressure is not that heavy.
Despite several bearish candles, they seem more like short-term profit-taking rather than a trend reversal signal. A slight correction after a big surge might actually be the prelude to a second takeoff.🌈
🏗️ Major moves in the TRON network, Justin Sun's 'cost strategy'
Aside from trading memes, Justin Sun hasn't forgotten his 'main business' - the competitiveness of the TRON network.
Just as PENGU exploded, Sun called on the community in another post: to take all possible measures to reduce the Gas fees of the Tron network, including raising energy limits and encouraging users to stake TRX.
Why is this so important? Because with the rise of TRX prices, if transaction costs are not controlled, users are likely to flow to cheaper chains (like Solana).
Currently, the STRX staking function launched on JustLend has reduced energy leasing prices by 30% in some cases, and more fee reduction mechanisms are on the way.
In summary: Justin Sun's 'meme trading and infrastructure development' are running parallel, and the surge of PENGU along with TRON's fee reduction news have perfectly resonated.
💸XLM: A payment coin that has been silent for many years suddenly erupts, where does the 92% increase come from?
Now let's turn the lens to an old friend - Stellar (XLM). Many people may still remember this coin from its explosive growth in 2017 or the early bull market, but this week it brought a true 'return of the veteran' to the market.
The 7-day increase directly reached 92%, with a single-day rise of 12% within 24 hours, and trading volume also surged to $14 billion.
💥 Key resistance turning into support, the technical aspect is very strong
The range of $0.31 to $0.37, which was originally a typical 'great pressure', has now turned into solid support;
The third wave of the Elliott wave pattern is evolving, suggesting medium to long-term potential still exists;
MACD and RSI continue to be strong: RSI has reached 89, although overbought, it can maintain a high level under strong trends;
Surge in spot trading volume, and open interest skyrocketed by 29%, indicating that the market is accelerating into a new round of accumulation.
However, it should also be noted that XLM's derivative trading volume has decreased by 2.25%, indicating that some speculators have begun to exit and observe, and a short-term pullback or fluctuation may occur.
🧠 On-chain signals + market rhythm, how to view the market ahead?
Whether it is PENGU or XLM, there is a common point: community-driven + strong technical aspects + emotional outburst.
But from a more rational perspective, we can break down several key points to judge the subsequent trends:
🔍 Similarities:
All are in overbought states: RSI has exceeded 80, increasing the risk of a short-term pullback;
MACD still looks bullish: short-term momentum remains;
Community sentiment is strong: FOMO sentiment drives buying interest;
Trading volume remains high: market enthusiasm has not waned.
⚠️ Differences:
🎯 How to view the subsequent opportunities?
👉 PENGU: Short-term FOMO sentiment still exists, suitable for flexible operations. It is suggested to pay attention to TRON-related topics, and if the subsequent hype continues for the combination of TRON + Solana + Meme, there is hope for another surge. But be careful to take profits in batches to avoid getting trapped by chasing highs.
👉 XLM: Mid to long-term opportunities may be worth paying attention to. If you tend to layout mid-term trends, waiting for a pullback to the range of $0.35 to $0.38 might be a good entry opportunity. A breakthrough of $0.50 will open up greater upward space.
🧵 Summary: Meme + Established public chain = The two major trends in the crypto market?
The recent market once again verifies one thing:
Meme coins can ignite emotions quickly, fiercely, and intensely.
Established public chains rebound more forcefully and with a stronger foundation after a period of silence.
On one side, 'light and funny images' drive prices up, while on the other, 'nine years of trend + on-chain practicality' boost the overall market. The magic of the crypto market lies here.
Therefore, if you are a short-term player, don't overlook those suddenly trending memes; if you are a mid to long-term investor, those coins that have long been accumulated and survived the bear market are the real potential treasures.
Who will be the next protagonist? Is it DOGE? Is it BONK? Or is there another old coin quietly gaining strength? Let's watch and dig for treasures while earning and chatting!😉
✍️DYOR, manage risks well, and may everyone sail smoothly in the crypto world!🌊
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