Pudgy Penguins (PENGU) has emerged as a standout performer in the digital currency market, experiencing a remarkable surge in value and trading activity throughout the week. The token’s trading volume has increased dramatically and its market cap is already at all time highs. This surge reflects growing investor interest.
PENGU's Market Performance
PENGU’s trading volume experienced a major surge, increasing by 214.90% in the past day. Its market cap has peaked at $1.43 billion, with its 24-hour trading volume surpassing $1.29 billion showing tremendous market liquidity and activity. PENGU is up 40.09% in the last week. In the past 24 hours, it’s up another 5.93%, bringing its current value up to $0.02282.
PENGU has shown more than 4000% return since its low in July of just over $0.0037. That’s an increase of 520% over the last few months. The token crossed the $0.015 level by the middle of the week, continuing its steady upward path.
Technical Analysis and Price Movement
According to PENGU’s price action, PENGU bulls have had the helm for a while now. It was propelled by significant volume increases. The token’s capacity to shatter both resistance levels speaks to hefty buy pressure and overall bullish sentiment in the market.
As it stands, the initial support level for PENGU is set at approximately $0.020, adding a buffer from further downward corrections. The next major level of resistance lies at roughly $0.023 and a firm break above this could open the gates for a swift move higher.
Future Price Targets
If in the case PENGU’s price still trades firmly over major supporting levels, the further possible target is in between $0.050 and $0.060. Reaching this goal so far in advance would take a truly extraordinary stretch of positive momentum and deep, continued investor confidence. Market analysts are closely monitoring PENGU's performance.
