Best Memecoins to Buy Today, August 1 – SHIB, PENGU, FARTCOIN

Highlights:

• SHIB is gaining momentum after a massive token burn and growing excitement ahead of its sixth anniversary.
• PENGU is holding above the $0.0059 support level, with a move above $0.01 likely to strengthen the recovery.
• FARTCOIN is holding the $0.128 support level, and a breakout above $0.1724 could signal a stronger rally.

The crypto market is slightly down today, with the top cryptocurrency, BTC, sliding below the $63,000 price point. The decline has led to many altcoins trading in the red zone on the daily chart. The overall market cap is down 1.36% to $2.16 trillion as of reporting time. However, the trading volume is up 1.95% to $61.77 billion. The total liquidations in the crypto market reached $284.34 million over the past day, according to CoinGlass data.

On the memecoin market side, CoinGecko data shows that the market cap is up 1.2% today to $25.6 billion, and the trading volume stands at $1.9 billion. With the market still stuck in a consolidation phase, here are the top memecoins to buy today.

Top Memecoins to Buy Today

1. Shiba Inu (SHIB)

SHIB is trading at $0.000004948, a 4.4% increase in the past day. In addition, the trading volume is up 49.31% to $138.3 million. Meanwhile, the market cap of the memecoin stands at $2.9 billion.

SHIB is leading the memecoin rally today after the community burned 2.98 billion tokens over the past seven days, marking the biggest weekly burn of this year. Meanwhile, the network burned another 24.38 million SHIB on July 31. The SHIB burns have reduced the token supply and lifted market confidence.

Shiba Inu Weekly Burns Hit One Year High

Shibburn data shows 2.98 billion $SHIB were burned over the past seven days. The total marks the largest weekly burn recorded in about a year.

Major burn activity on July 26 and 27 coincided with SHIB's sharp weekend rally. A single… pic.twitter.com/guOAYh6Agx

— BSCN (@BSCNews) July 31, 2026

At the same time, excitement is building ahead of Shiba Inu’s sixth anniversary after the token launched under the pseudonym Ryoshi. The growing community support and strong burn activity could help keep the rally of SHIB going over the coming days.

2. Pudgy Penguins (PENGU)

PENGU is trading at $0.006095, a 1.14% increase over the last 24 hours. The market cap stands at $383.15 million. Meanwhile, the trading volume of the memecoin is down by 35.04% to $74.5 million.

PENGU is trading just above a major demand zone after months of steady selling pressure. The $0.0042 to $0.0059 range has repeatedly attracted buyers and stopped deeper declines. That repeated defense suggests accumulation may be building.

$pengu bottom will be formed in this blue zone pic.twitter.com/BbOg93EE9v

— KNIGHT (@cryptoknight890) July 31, 2026

A sustained move above the current range could confirm the growing bullish momentum. Then $0.01 price point is the next major resistance level. If buyers clear that barrier, the rally could extend toward $0.016 and eventually $0.02. However, losing the demand zone would invalidate the bullish setup.

3. Fartcoin (FARTCOIN)

Fartcoin, a Solana-based memecoin, is trading at $0.1277, with a 4.63% increase in the past 24 hours. The market cap of the memecoin stands at $127.74 million, while the trading volume is up 6.02% to $10.16 million.

FARTCOIN has flashed a buy signal after holding the $0.128 support zone for several weeks, a level that has stopped every recent decline. The token also formed a higher low, which shows improving market strength. Meanwhile, $0.1724 remains the first major resistance after rejecting multiple recovery attempts.

A breakout above that level could shift momentum back in favor of bulls. The previous swing high near $0.26 now stands as the next major target for buyers. A strong breakout above that level could open the door to $0.3669. However, a daily close below $0.128 would weaken the recovery and hand control back to sellers.