PENGU’s Double-Digit Boost Brings $0.055 Back into Sight
PENGU’s Double-Digit Boost Brings $0.055 Back into Sight The recently launched PENGU token, associated with the Pudgy Penguins NFT project, has soared by 12% over the past 24 hours. Fueled by growing bullish sentiment, this double-digit price rally mirrors the uptrend noted in the broader cryptocurrency market during the same period. Readings from the token’s price chart confirm a surge in demand, making it likely for PENGU to reclaim its all-time high of $0.055, which was last reached at its launch on December 17. PENGU’s Trading Volume Soars as Demand Increases PENGU’s trading volume has soared by 86% over the past 24 hours, exceeding $1 billion. When an asset’s price rallies alongside a surge in trading volume, it signals strong investor interest and market momentum. As with PENGU, this combination indicates that the price move is backed by real demand rather than speculation. Such rallies are more sustainable and can pave the way for further price growth. PENGU Price and Trading Volume. Source: SantimentMoreover, readings from PENGU’s Awesome Oscillator observed on a four-hour chart confirm this bullish outlook. At press time, the momentum indicator displays a green histogram bar with its value at 0.0039. The Awesome Oscillator compares an asset’s current market momentum to a longer-term momentum, helping to identify potential trend shifts. When it shows green histogram bars and positive values, it indicates that the current momentum is strong and that bullish sentiment is increasing. This suggests that the asset’s price could continue to rise, signaling a potential buying opportunity. PENGU Awesome Oscillator. Source: TradingViewPENGU Price Prediction: Token Set to Revisit $0.055 If Buying Pressure Continues PENGU will extend its uptrend if market participants continue to take advantage of this buying opportunity to accumulate the altcoin. This sustained buying pressure could propel its price past the resistance formed at $0.039 and toward the $0.044 price mark. A successful breach of this key level may bolster PENGU’s value toward revisiting its all-time high of $0.055. PENGU Price Analysis. Source: TradingViewOn the other hand, if the market witnesses a resurgence in selloffs, this may invalidate this bullish outlook. In that scenario, the PENGU token price may dip to $0.035. Disclaimer In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated. Abiodun Oladokun is a technical and on-chain analyst at BeInCrypto, where he specializes in market reports on cryptocurrencies from diverse sectors, including decentralized finance (DeFi), real-world assets (RWA), artificial intelligence (AI), decentralized physical infrastructure networks (DePIN), Layer 2s, and meme coins. Previously, he conducted market analysis and technical assessments of various altcoins at AMBCrypto, utilizing on-chain analytics platforms like Messari, Santiment... Abiodun Oladokun is a technical and on-chain analyst at BeInCrypto, where he specializes in market reports on cryptocurrencies from diverse sectors, including decentralized finance (DeFi), real-world assets (RWA), artificial intelligence (AI), decentralized physical infrastructure networks (DePIN), Layer 2s, and meme coins. Previously, he conducted market analysis and technical assessments of various altcoins at AMBCrypto, utilizing on-chain analytics platforms like Messari, Santiment... READ FULL BIO