The meme coin market ended August on a weak note, rising just 1.3% over the past week and staying mostly flat. Over the last 30 days, major tokens remain deep in the red — with PEPE down 13%, TRUMP 12%, BONK over 32%, and SPX more than 42%.
While sentiment remains muted, on-chain data and technical setups suggest a potential shift. As September begins, three meme coins stand out for their accumulation patterns and price structures.
Bonk (BONK)
Despite falling 32% over the past 30 days and barely moving in the last week, BONK may be preparing for a rebound. Whale wallets have increased their holdings by 16.22%, raising their stash to 2.51 trillion BONK.
At today’s price of $0.0000215, that addition is worth more than $7 million.
At the same time, exchanges saw 1.61% outflows, showing that retail continues to sell while whales accumulate. This divergence often precedes stronger moves, and it is a key reason why BONK is one of the meme coins to watch in September.
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The BONK price trades near $0.0000216 at press time, a key support-turned-resistance. A breakout above $0.0000239 could set up upside momentum, with $0.0000282 being the larger trigger.
However, a fall below $0.0000195 would invalidate the bullish setup.
With the Bull Bear Power (BBP) indicator showing weakening bearish strength, BONK might be more primed for an upside move in September.
Pudgy Penguins (PENGU)
PENGU, tied to the Pudgy Penguins NFT brand, dropped nearly 25% this month and has traded mostly flat in the last week. Yet whales continue to quietly build, making it one of the meme coins to watch in September.
Their balances grew 1.77% to 2.45 billion PENGU, while the top 100 addresses added 0.13% to reach 74.66 billion. At $0.030, these large holder additions are valued at $4.2 million.
Exchanges, meanwhile, lost 2.55% of supply, worth $12.60 million, underscoring ongoing retail exits and weakening sell pressure.
On the technical side, the Parabolic SAR — a trend-following indicator that places lines above or below price to show momentum direction — has flipped bullish, now appearing under the PENGU price candles. Combined with its broader 174% three-month rally, the uptrend remains alive.
Key levels to watch are $0.031 and $0.036. A clean move above those could pave the way to $0.041 and a strong September recovery for PENGU.
A dip below $0.028 would negate the bullish thesis, but it would interest the short traders. Either way, PENGU does look qualified as one of the meme coins to watch in September.
Dogecoin (DOGE)
DOGE, the OG meme coin, has been relatively stable compared to its peers. It is down only 2.2% over the past month, traded flat most of August, but has gained 2.4% this past week and is up 9% over three months.
Large holders have taken note. Between August 27 and 28, mega wallets (1 billion DOGE or more) raised their balances from 71.24 billion to 71.62 billion DOGE — a 0.53% increase, worth around $84 million at $0.2230. This kind of accumulation makes DOGE one of the meme coins to watch in September.
But that’s not all. For the better part of the last week, Dogecoin bears have been slowly losing ground, per the Bull Bear Indicator. The last time this setup happened between August 20 and 21, the DOGE price jumped from $0.20 to $0.24 in hours. The same setup could play out again.
Currently, DOGE trades between $0.2176 and $0.2248. A push above $0.2449 is critical for unlocking upside, while a drop below $0.2058 risks a slide toward $0.1884.
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