According to reports from AMBCrypto, StonkBrokers NFT on Robinhood Chain has overtaken Pudgy Penguins NFT to become the fourth most-capped NFT collection. StonkBrokers NFT achieved a market cap of $64.50 million, narrowly surpassing Pudgy Penguins' $64.20 million. The top three positions in the NFT market remain occupied by CryptoPunks, Bored Ape Yacht Club (BAYC), and Autoglyphs. This development has significantly impacted the respective memecoins, with 60% of the top 5 trending tokens on CoinGecko being memecoins, particularly those on the Robinhood Chain.
As reported by AMBCrypto, the StonkBroker memecoin surged by more than 38% in 24 hours, significantly outperforming PENGU's 3.30% daily gains. However, PENGU's market cap remains 13 times larger than its counterpart. The STONKBROKER memecoin has a Fully Diluted Value (FDV) of $55 million with a circulating supply of 1.543 billion tokens and total supply of 2.71 billion tokens. The token maintains a daily trading volume of over $5 million. Despite the performance gap, the new chain's products are extracting liquidity from established memecoins like PENGU.
According to AMBCrypto, the PENGU memecoin has reached a new milestone with total mindshare exceeding 450 billion in collective views. The Bull/Bear Power indicator has turned green, indicating improving social sentiment pulling capital into both STONKBROKER and PENGU. Over the past 24 hours, a maximum of 109.78 million PENGU tokens were bought, as read from the CVD. Since the onset of August, close to a billion tokens have been purchased from CEXs with minimal selling. This sustained buying activity suggests growing investor confidence despite the NFT market leadership change.
As reported by AMBCrypto, PENGU was trading around a slanting resistance and attempting a breakout. The memecoin needs to break and stay above the slanting resistance to shift the bearish outlook. To confirm a market structure shift, PENGU should rally and trade above $0.00750. However, minor resistance levels exist below this level. A rejection at the slanting resistance would indicate a breakdown to the support level of $0.005765.
