The $PENGUIN price recovery has seen the most hyped Solana meme coin of 2026 regain some of its recent losses over the past 24 hours, while the Zcash price chart has continued to look unsteady. At the same time, capital has rotated into GhostWareOS ($GHOST).

A post from Lookonchain highlighted how a $PENGUIN whale sold their position for a profit and increased their already sizable $GHOST holdings. Since then, $GHOST has returned around 400%, fueled by the announcement of an official partnership with Moonshot.

The key question for both the $ZEC and $PENGUIN price is whether they can mount sustained recoveries, or if $GHOST will continue to attract the majority of speculative capital from privacy-focused traders and Solana meme coin participants.

Overall, $GHOST currently appears to be the strongest bet in terms of price action. That said, it is still worth examining the $PENGUIN recovery attempt and the longer-term ZEC price trend to better understand where capital may rotate next.

Nietzschean Penguin Price Recovers Following Crash

The Nietzschean Penguin ($PENGUIN) has been one of the few meme coin success stories of the past month. After the meme coin mania of 2025 faded, almost every token launched on Solana quickly collapsed. $PENGUIN was different. When the official US White House X account posted an image referencing President Donald Trump walking alongside a penguin, the token exploded in visibility. Within hours, its market capitalization surged from under $1 million to well above $150 million, driven by viral momentum and rapid capital inflows.

This sharp price increase was, unsurprisingly, a product of hype rather than long-term fundamentals. That said, many of the largest meme coins in crypto history began with a single, well-timed moment that captured market attention, making the move noteworthy despite its speculative nature.

A steep pullback followed, pushing the $PENGUIN market cap below $80 million. Since then, price action has stabilized, with the token recovering to around a $95 million, but questions still remain around what could provide momentum for a new all-time high.

The rotation into $GHOST appears to be contributing to its bull run.

GHOST: $PENGUIN Whales Rotate Into Privacy Token

The $PENGUIN price pullback appears to be directly linked to the $GHOST rally. A post from Lookonchain referenced on-chain data showing that a Nietzschean Penguin whale sold part of their holdings and rotated profits into $GHOST. This was followed by strong bullish price action, with several other large $PENGUIN holders also increasing their $GHOST exposure.

The 400% $GHOST rally was not driven by rotation alone. A series of bullish announcements added momentum, beginning with the reveal of GhostSwap, a privacy-focused swapping tool designed to reduce on-chain traceability for Solana users.

Arguably more important was the official confirmation of a partnership between GhostWareOS and Moonshot. As a leading Solana-based on-ramp and payments platform, Moonshot gives $GHOST potential access to an estimated 20 million users, significantly expanding its adoption potential.

ZEC Price Recovery Falters

The ZEC price action in 2025 was unprecedented. At the time, the privacy market had been stuck in limbo for several years. The two largest names in the niche, Zcash and Monero, had traded sideways for an extended period, leading many traders to abandon the sector entirely. Then, in the second half of 2025, ZEC exploded, rallying by over 1000% in just a few months.

So far, 2026 has not delivered the same bullish start. A pullback has taken hold and shows few signs of easing, which is not surprising given that many long-term holders are now sitting on profits of 500% to 1000%.

While ZEC is likely to find support over the coming months, its multi-billion-dollar market capitalization makes a repeat of the explosive gains recently seen in $GHOST far less likely.

Final Thoughts: Will the $GHOST Whale Rotation Continue?

The rotation of capital from $PENGUIN into $GHOST has been documented by Lookonchain and appears to be developing into a broader trend. At the same time, privacy-focused traders holding ZEC are increasingly exploring alternatives to legacy coins due to their large valuations, opening another potential flow of capital toward $GHOST. 

The confirmed partnership between GhostWareOS and Moonshot has strengthened the bullish narrative. With market capitalization stabilizing around $8 million, further whale rotation could push $GHOST toward new all-time highs in the short term.

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Filed under: Bitcoin - @ January 28, 2026 2:15 pm