Meme coins of the week: three tokens to watch right now
This week, three projects stand out in the memecoin market, demonstrating unique dynamics. Each shows a notable gap between the positioning of major players and the current price, creating both opportunities and risks.
Large holders and so-called "smart money" are actively restructuring their portfolios, but technical charts do not always confirm their strategy. Let's break down what is happening with each of these assets.
Official Trump (TRUMP)
Official Trump (TRUMP) starts the week as one of the most volatile memecoins. The token has gained over 5% in the last 24 hours, but its technical picture remains ambiguous. On-chain positioning indicates a bullish sentiment: smart money holds a net long position in perpetual contracts on Hyperliquid worth $627,000, which is a clear signal of potential price growth.
On spot exchanges, an outflow of $681,000 has been recorded, signaling accumulation. The funding rate—a regular fee between longs and shorts—is currently close to minus 24% annualized. In other words, short sellers are paying long holders. Additionally, an inflow of $559,000 to fresh wallets indicates the arrival of new buyers.
However, the technical picture tells a different story. TRUMP, as a memecoin in the Solana ecosystem, has been moving within a descending channel since mid-March, gradually declining. On June 13, at the $2.20 level, the token attempted to break higher but failed to hold. Volumes spiked on this impulse but quickly faded—there were not enough buyers for a sustained move. A similar pattern is now observed: a surge followed by a decline.
To restore an upward trend, the coin needs to overcome the $2.20 level—a jump of 16.46%. Until this happens, support from smart money may provide short-term bounces within the range. If growth does not materialize, a correction toward $1.48 is possible, especially amid escalating conflicts involving Trump and Iran.
SPX6900 (SPX)
SPX6900 (SPX) is featured in this review because it remains profitable despite a downturn in most memecoins. The token has risen approximately 8% over the week, yet the largest holders have taken opposing positions. Due to this divergence, SPX remains an interesting coin to watch.
Starting June 18, two main categories of holders began to diverge. Owners with balances between 1 million and 10 million SPX increased their share from 33.98% to 34.69%. Meanwhile, wallets holding between 10 million and 100 million SPX reduced their share from 28.56% to 27.79%. That is, the largest players began to cut positions, while smaller investors increased their holdings.
Nansen confirms this divergence: smart money holds a net short position of $115,000 on perpetual contracts. Sellers are in control, and buyers are now paying for longs—this aligns with the actions of large whales selling the asset. At the same time, fresh inflows of $439,000 are noted on the market—small investors are going against large sellers, expressing their own optimism.
The chart clearly shows the reason for caution: a double top has formed at the $0.49 level—a bearish signal where the price fails to break resistance twice. The first rejection occurred on May 11, the second on June 17. It is likely that large traders opened shorts there. A break below the $0.26 level could lead to a further 45% decline.
Degen (DEGEN)
Degen (DEGEN) is among the memecoins that continue to rise. The token has gained about 8% in the last 24 hours and over 25% over the week. Against this backdrop, other projects in the segment appear sluggish. However, despite this momentum, the technical picture looks unstable. Since May 30, DEGEN has been moving within an ascending channel—a range between two parallel trend lines.
The token is now approaching the upper boundary again. Meanwhile, volumes since June 4 have dropped to some of the lowest levels. Therefore, there may not be enough momentum for further growth. The Nansen platform also notes this risk. DEGEN has no perpetual contract market, so leveraged shorts cannot be tracked.
On the spot market, however, the 24-hour ratio favors sellers, with the largest holder dumping 185 million tokens over the week. "Smart" money is not rushing in—there is no significant support. A token outflow of $251,000 and the appearance of new wallets have been recorded, slightly supporting the bullish scenario, but market confidence is virtually absent.
The key level is $0.0020. A clear breakout above would provide a chance to test the upper trendline. However, weak volume could easily halt the move before that. Support stands at $0.0017. If quotes fall below, it could open the path to $0.0015 and then $0.0014.
My analysis: Against the backdrop of a general downturn in the memecoin market, these three tokens stand out due to active redistribution of positions between large and small players. However, technical signals remain bearish for now, and without confirmation from volumes, any growth could be short-lived. Investors should be especially cautious and not give in to euphoria.