The present setup looks like a selective relief bounce rather than a broad memecoin bull run:
Relative strength: SHIB, WIF, FARTCOIN and PENGU.
Neutral/stabilizing: DOGE and PEPE.
Weak relative momentum: BONK.
Highest event risk: SIREN and TRUMP.
Key confirmation: Memecoin market cap must continue rising while trading volume expands. Price gains on declining volume would make the rebound less convincing.
For Solana specifically, WIF currently has better short-term momentum than BONK, while PENGU combines stronger weekly performance with much higher reported 24-hour trading volume than WIF.