Solana Memecoins PENGU & SPX Bounce Back: Rally Gains Momentum in August 2025

Solana's meme darlings PENGU and SPX claw back from the crypto trenches—defying skeptics with a bullish reversal.

The Penguins Are Marching Again

After weeks of sideways action, PENGU flips resistance into support—traders pile in as the token shakes off its 'degenerate casino chip' reputation (for now).

SPX Flexes Utility Muscle

Unlike its purely meme-driven peers, SPX's recovery gets juice from actual protocol upgrades—because sometimes even joke coins need to pretend they're serious.

Solana's Meme Machine Grinds On

The network proves it's still the meme factory floor, pumping out volatility while 'real' DeFi projects struggle for attention. Classic crypto priorities.

Will the rebound last? Probably not—but in a market where 'fundamentals' means checking Elon's Twitter feed twice daily, momentum trumps logic every time.

In Brief

• The memecoins PENGU and SPX, built on Solana, show signs of recovery after a strong correction.
• PENGU stabilizes around $0.030, with resistance at $0.03717. Open Interest rose by 10% in 24 hours.
• SPX rebounds on the lower boundary of an ascending wedge and remains above its 50 EMA. A break above $1.8032 could target $2.2817.

PENGU: Stabilization and renewed interest

After losing ground in recent weeks, PENGU seems to find an anchor point around $0.030. The drop left scars, but the market structure shows a weakening of selling pressure.

The level of $0.03717 currently acts as resistance. A clear break above this threshold could open the way to a Pengu price explosion. For now, the indicators remain mixed: the MACD still shows a bearish crossover, but the histograms are lightening. The bearish intensity is weakening.

The RSI oscillates at 55, close to neutrality. This confirms a waiting period. What draws attention, however, is the 10% rise in Open Interest in 24 hours, now at $407.4 million. This reflects a resumption of risk-taking and a return of liquidity.

Failing a bullish breakout, a rejection below $0.03717 could send PENGU back to its support at $0.02893, level of July 15.

SPX: Technical rebound in a bullish wedge

SPX maintains its position above the 50-day exponential moving average, around $1.5717. The token reacts on the lower boundary of an ascending wedge, which may indicate a technical recovery if the pattern holds.

The immediate resistance is at $1.8032, a peak reached in January. Breaking it WOULD allow targeting $2.2817, a coherent objective in case of bullish acceleration. Here too, the indicators are in a transition phase: the MACD recovers, the RSI returns to balance around 49.

SPX’s Open Interest remains stable at $146.73 million after a marked drop. This stagnation, coupled with price resilience, suggests consolidation rather than disengagement. Sellers seem to be on pause.

A bearish scenario remains possible. A clear break below $1.5000 would question the ongoing rebound and open the way to $1.3356, an area corresponding to the 100-day moving average.

PENGU and SPX clearly illustrate the current dynamics of the solana ecosystem. Despite the extreme volatility of these assets, they capture attention through their resilience. It is not so much their fundamental value that matters here, but their ability to signal a return of risk appetite.

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