Best Memecoins to Invest In Today, February 21 – DOGE, BONK, PENGU

Highlights:

• Dogecoin could rally toward $0.21 if buyers defend the long-term channel.
• Bonk needs a move above $0.00001 to spark stronger upside momentum.
• PENGU bounced from $0.0053 and now looks set to test $0.0078 if buying pressure builds.

The crypto market is up today after the Supreme Court declared that the president does not have the authority to impose tariffs under the International Emergency Economic Powers Act. The court determined that the imposed tariffs by President Trump are illegal. According to VanEck Chief Matthew Sigel, the striking down of the tariffs will likely boost the price of BTC and the broader market.

As of press time, the overall market cap is up 0.43% to $2.33 trillion. In addition, the trading volume is up 22.80% to $98.45 billion. The fear and greed index stands in the extreme fear zone at an index of 14. The memecoin market cap is up 2.1% to $35.2 billion, and the trading volume stands at $3.2 billion, according to CoinGecko data. With the court ruling on tariffs, here are the top memecoins to invest in today.

Top Memecoins To Invest In Today

1. Dogecoin (DOGE)

The largest memecoin by market cap is trading at $0.09977, a 1.01% increase in the past day. In addition, the trading volume is up 38.33% to $1.04 billion, while the market cap stands at $16.84 billion.

Dogecoin is holding near the lower boundary of a long-term rising channel on the three-week chart. The price recently dropped toward the $0.08 to $0.10 zone. This area aligns with previous cycle lows. Buyers defended this region in 2017 and again before the 2021 rally.

In the 2017 cycle, DOGE surged more than 9,200% after touching channel support. In the following major run, the price exploded nearly 26,000% within months. Each rally started from the same structural base. If buyers hold this level, the price could move toward $0.21 first. Further strength may open the $0.45 price level and higher within the channel. However, a weekly close below $0.08 would weaken the bullish projection.

2. Bonk (BONK)

BONK, a Solana-based memecoin, is trading at $0.000006389, representing a 3.26% increase over the last 24 hours. The market cap stands at $562.27 million, while the trading volume has increased by 32.6% to $54.4 million. BONK has gained 1.39% on the weekly chart, making it one of the top memecoins to invest in today.

BONK remains inside a clear downtrend on the daily chart. A descending trendline has capped every rally in previous cycles. Sellers have maintained control below this resistance line. The price is trading near $0.0000064 at a major horizontal support.

This support has held multiple times in recent weeks. Above the current price, $0.00001 stands as the first resistance. The major target sits near $0.0000217, which marks prior range highs. A breakout above the descending trendline could trigger a strong recovery. However, bulls must reclaim $0.00001 to shift momentum.

3. Pudgy Penguins (PENGU)

PENGU is trading at $0.006913, a 2.52% increase over the last 24 hours. The market cap stands at $434.58 million. Meanwhile, the trading volume of the memecoin is up 24.17% to $96.71 million.

According to a recent analysis, PENGU is trading near a key recovery zone on the four-hour chart. The token dropped sharply from the $0.01 region and formed lower highs. Sellers controlled the move until the price reached $0.0053. Buyers defended that level and built a base near $0.006.

The price then rebounded toward $0.0078 but faced rejection again. This zone now acts as the immediate resistance. Meanwhile, $0.0065 serves as the short-term support. If bulls break above $0.0078, the price could climb toward $0.0085 and $0.0095. However, a drop below $0.0065 may trigger another test of $0.0053.