Dogecoin (DOGE), Pudgy Penguins (PENGU), and SkyAI are the top meme coins to watch in May 2026 after delivering significant gains in April. DOGE rose 13.5%, PENGU surged 53%, and SkyAI skyrocketed 290%. DOGE, a legacy heavyweight, is testing the $0.082 support with potential for a breakout if it surpasses $0.10. PENGU confirmed a breakout, aiming for $0.013 after clearing multi-month resistance. SkyAI, driven by AI narratives, continues its parabolic rise, with a potential target of $0.32 if it maintains support at $0.16.