The cryptocurrency market saw a rise in prices today following the trade deal announcement from the United States and the United Kingdom. This positive sentiment also impacted meme coins.

BeInCrypto conducted an analysis of three meme coins that stood out as top performers today.

Peanut The Squirrel (PNUT):

- PNUT has been performing exceptionally well, surging by 76% and reaching a 2-month high. It is currently priced at $0.279 and faces a critical support level at $0.260. Sustaining this support is important for maintaining recent gains and opening up possibilities for further growth. - PNUT needs to hold the support at $0.260 and aim for $0.330 to confirm the ongoing rally. Breaking through this resistance level would attract more investments, hinting at a potential uptrend. Market watchers will closely monitor these price movements.

Pepe (PEPE):

- PEPE's price spiked by 61% in the past 24 hours, surpassing the $0.00001000 level. It is now trading at $0.00001331. The coin is eyeing the resistance at $0.00001369 for further upward movement, despite potential selling pressure. - A successful breach of the $0.00001369 resistance could propel PEPE towards $0.00001489 and potentially $0.00001500. To sustain this upward trend, PEPE needs to evade substantial selling pressure that could hinder a lasting rally.

Small Cap Corner – Fartboy (FARTBOY):

- FARTBOY made a strong recovery today with a 52% surge, reaching $0.037. This uptrend is part of its effort to recuperate from losses in late March and early April. The meme coin is gaining positive momentum to stabilize after a challenging period. - Nansen data indicates promising signs for FARTBOY, with 1.28 million FARTBOY tokens purchased off the exchanges for $47,590, showcasing rising demand and growing market interest in the coin. - If FARTBOY's momentum continues, it could hit $0.051, solidifying its recent gains and recovery. However, a failure to hold the support at $0.037 may lead to a decline to $0.030, jeopardizing the bullish outlook and potentially resulting in further losses.

There are some concerning aspects, as indicated by Soul Scanner data revealing that 37.97% of the supply was distributed via airdrops. Moreover, 44.27% of tokens were acquired in "bundled" transactions, hinting at potential concentration of ownership or manipulation scenarios, such as pump-and-dump schemes by insiders or whales.