The cryptocurrency market faced a challenging week as Bitcoin entered correction mode, compounded by announcements of a potential sale of 6.5M BTC by the US government.
Despite the bearish sentiment, a few standout memecoins managed to capture the attention of investors. Let’s dive into this week’s trending coins and what their performance indicates about the current market.
SHIBA INU (SHIB)
Price Change (7D): -8.50% Current Price: $0.00000218
News The Shiba Inu community is eagerly anticipating the launch of the TREAT token on January 14, which aims to enhance ecosystem innovation and marketing. Shytoshi Kusama has introduced the “Shib Network State,” a decentralized governance model supported by SHIB, BONE, LEASH, and TREAT tokens, each serving a unique purpose. Meanwhile, the daily chart reveals a head-and-shoulders pattern, a bearish signal that could lead to further declines if the $0.00002100 support level is breached.
Forecast If SHIB breaks below $0.00002100, it may fall to $0.00001750. However, sustained support above this level and a break past $0.00002250 could trigger a bullish recovery. Monitor trading volumes for clearer signals.
DOGECOIN (DOGE)
Price Change (7D): -11.44% Current Price: $0.3401
News Dogecoin witnessed significant whale activity as 219 million DOGE were offloaded on Coinbase, sparking concerns about market stability. The coin, which surged to $0.40 earlier this month, dropped sharply to $0.34, erasing all gains. The broader cryptocurrency market also saw declines, with Bitcoin and Solana facing heavy corrections, further dampening investor sentiment for DOGE.
Forecast DOGE may face further declines if it drops below $0.31, while resistance at $0.36 remains a critical hurdle. Grayscale's interest could provide long-term bullish support, but short-term sentiment remains cautious.
PUDGY PENGUINS (PENGU)
Price Change (7D): -19.86% Current Price: $0.03398
News Pudgy Penguins ($PENGU) is facing bearish sentiment due to corrections influenced by macroeconomic factors such as Fed rate changes and Bitcoin price movement. Recent technical analysis indicates a descending trendline and resistance rejections around $0.0469 USDT, coupled with a fragile community sentiment. Despite this, short-term price improvements suggest some recovery optimism as sentiment begins to shift positively.
Forecast $PENGU faces a bearish trend unless it breaks above $0.0375. A drop below $0.0296 could trigger further losses, while consolidation between $0.0313 and $0.0375 may offer accumulation opportunities.
AI16Z (AI16Z)
Price Change (7D): -38.14% Current Price: $1.13
News An AI16Z whale recently made a significant move by purchasing 12.19 million AIOS, resulting in over $1 million in floating profit. Additionally, the ElizaOS platform, tied to AI16Z, introduced major updates, including AI integrations and enhanced text-to-speech capabilities across 15+ languages, boosting ecosystem utility.
Forecast AI16Z’s price may see short-term fluctuations due to whale activity and broader market trends. If the token maintains support above $1.10, it could attempt a recovery toward $1.25. Breaking below $1.10 might lead to deeper corrections.
ARTYFACT (ARTY)
Price Change (7D): -20.45% Current Price: $0.8213
News Artyfact ($ARTY) continues to draw attention as a top trending token. The project, blending AI and NFT revenue-sharing mechanisms, has announced key ecosystem events, including a Zealy campaign and play-to-earn tournaments, fostering community engagement. Recent partnerships with prominent investors like X8 Fund and Poolz Ventures signal long-term growth potential.
Forecast $ARTY’s immediate outlook hinges on its ability to sustain above $0.80. A breakout beyond $0.90 could signal bullish momentum, while failure to hold support may lead to a dip toward $0.75.
MYSTERY (MYSTERY)
Price Change (7D): +141.52% Current Price: $0.03552
News Mystery ($MYSTERY), inspired by Matt Furie’s character from The Night Riders, became a standout performer this week. With endorsements from Furie and 8,000 holders celebrating the token’s success, Mystery captured investor attention as a "second chance at PEPE." Positive community sentiment and technical trends supported its rally.
Forecast MYSTERY could continue its bullish momentum toward $0.04 if it sustains current sentiment. Key resistance at $0.037 needs to be broken for further gains.
Closing Thoughts
This week’s trending coins reveal a mixed sentiment in the crypto market. While bearish trends dominated due to Bitcoin’s correction and macroeconomic pressures, standout performances like MYSTERY’s remarkable 141% rally highlight that investors are still willing to take calculated risks on high-potential, community-driven tokens.
At the same time, the overall declines in SHIBA INU, DOGECOIN, PENGU, AI16Z, and ARTY reflect a market still grappling with uncertainty. Investor confidence appears to be recovering in pockets, but the broader sentiment remains cautious.
The performance of these memecoins shows that there’s cautious optimism within the market, with a focus on projects demonstrating strong narratives, innovative utilities, or influential endorsements.
Disclaimer: The information provided in this article is for educational purposes only and should not be considered financial or legal advice. Always conduct your own research or consult a professional when dealing with cryptocurrency assets.