PNUT, PEPE surge over 50% after US-UK trade deal | Today's notable meme coins

The cryptocurrency market surged today as the United States and the United Kingdom announced a trade agreement. This optimistic sentiment also spread to meme coins.

BeInCrypto has analyzed three meme coins for investors to follow, which are the best-performing coins today.

Peanut the Squirrel (PNUT)

• Launch date – November 2024
• Circulating Supply – 999.85 million PNUT
• Max Supply – 999.85 million PNUT
• Fully Diluted Valuation (FDV) – $266.38 million
• Contract Address – 2qEHjDLDLbuBgRYvsxhc5D6uDWAivNFZGan56P1tpump

PNUT has emerged as one of the best-performing coins today, increasing 76% to reach a two-month high. Currently trading at $0.279, this meme coin is facing a critical support level of $0.260. Maintaining this support is crucial to preserving recent profits and creating momentum for further growth.

To continue its upward trend, PNUT needs to maintain support at $0.260 and move towards $0.330. Breaking through this resistance level will confirm the current price increase and attract more investment, signaling potential for a sustainable upward trend. Investors will closely monitor this critical price action.

However, if PNUT fails to maintain support at $0.260, it could experience a significant decline. Dropping below this level could push the coin to $0.219 or lower to $0.182, eliminating the current price appreciation prospects. This would erase recent profits and put the altcoin at risk of further losses.

Pepe (PEPE)

• Launch date – April 2023
• Circulating Supply – 420.69 trillion PEPE
• Max Supply – 420.69 trillion PEPE
• Fully Diluted Valuation (FDV) – $5.52 billion
• Contract Address – 0x6982508145454ce325ddbe47a25d4ec3d2311933

PEPE's price has increased 61% in the past 24 hours, pushing it above $0.00001000. The meme coin is currently trading at $0.00001331. This rapid increase has attracted investor attention, and PEPE is now targeting the next resistance level for further price gains, although it may face selling pressure.

PEPE is facing a critical resistance level at $0.00001369. Successfully breaking through this level will pave the way for a move towards $0.00001489 and potentially $0.00001500. However, to maintain the upward trend, PEPE needs to avoid strong selling pressure from investors, which could hinder a sustainable price increase.

If PEPE cannot break through $0.00001369, the coin may experience a price decline. It could potentially drop to the local support level of $0.00001146, and if it loses this level, PEPE might fall below $0.00001000, heading towards $0.00000951. Such a move would eliminate the current price appreciation prospects and signal potential weakness.

Small Market Cap Corner – Fartboy (FARTBOY)

• Launch date – January 2025
• Circulating Supply – 999.43 million FARTBOY
• Max Supply – 999.44 million FARTBOY
• Fully Diluted Valuation (FDV) – $35.77 million
• Contract Address– y1AZt42vceCmStjW4zetK3VoNarC1VxJ5iDjpiupump

FARTBOY is attempting to recover, increasing 52% today to reach $0.037. This price increase is part of an effort to recover losses from late March and early April. This meme coin is attracting attention as it moves towards stabilization after a challenging period.

Positive signals are clear for FARTBOY, supported by data from Nansen showing 1.28 million FARTBOY worth $47,590 were purchased off-exchange. These indicators suggest increasing demand and market interest in FARTBOY.

If the upward momentum continues, FARTBOY could reach $0.051, consolidating recent gains and confirming its recovery. However, if it fails to maintain support at $0.037, the price could drop to $0.030. Falling to this level would eliminate price appreciation prospects and potentially push the coin into further losses.

However, there are some concerning points. For example, data from Soul Scanner shows 37.97% of the supply was distributed through airdrop. In the case of meme coins, developers often airdrop a small portion of the supply to multiple addresses to create a fake supply distribution.

Moreover, 44.27% of tokens were purchased in "bundled" transactions, meaning a small group of wallets bought a large amount in a short time. This indicates concentrated ownership or possible sybil manipulation, where an entity uses multiple wallets to simulate activity or gain control.

In some cases, bundled purchases suggest the potential for pump and dump schemes, orchestrated by insiders or whales.