PENGU’s
Double-Digit Boost Brings $0.055
Back into
Sight
The recently launched PENGU token, associated with the Pudgy Penguins NFT• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » NFT - невзаимозаменяемый токен
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• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта 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.
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PENGU Price and Trading Volume. Source: Santiment
Moreover, 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: TradingView
PENGU 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: TradingView
On 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.
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