In the first week of May, Made in USA coins showed varied performances. PENGU, SUI, and RENDER took different paths during this period. PENGU witnessed a notable 107% surge, indicating a strong recovery following months of decline. SUI also impressed with a 70% jump, positioning itself among the leading Made in USA coins. On the other hand, RENDER struggled to gain momentum, performing below both the general market and the top AI coins.
Pudgy Penguins (PENGU) was previously the top meme coin on Solana, hitting a peak market cap of $2.9 billion on January 6. Despite experiencing a significant correction afterward, recent price movements suggest renewed interest in PENGU. The coin has surged by 107% in the last week, with potential to test resistance levels at $0.011 and possibly reach targets at $0.0126, $0.0171, and even $0.0223.
SUI emerged as a strong performer among altcoins, rising by 70% and positioning itself close to major coins like Cardano and Solana in terms of market cap. Testing resistance at $3.73, SUI aims to break through to reach $4.25, marking its first time trading above $4 since January. Failure to maintain bullish momentum could lead to retracements towards support levels at $3.25, $2.92, or $2.51.
Conversely, RENDER struggled to keep up with the market, recording a mere 2% gain over the past week, falling behind other significant Made in USA coins. This underperformance, especially concerning AI-focused tokens, suggests RENDER's struggle to generate similar enthusiasm. Technically, RENDER's EMA lines indicate potential weakness, with a looming possibility of a death cross. If a downtrend occurs, RENDER may test support at $4.25, descending further to $3.82, $3.55, and $3.14. However, a positive rebound could see RENDER rallying back to $4.63.