Pudgy Penguins ecosystem’s native token has made a stunning attempt recently. This meteoric increase has turned heads among excited investors and bewildered analysts alike. The token’s price is $0.0386 at the time of writing. To say TURBO has made some monster moves would be an understatement, up almost 20% in 24 hours and 273.6% in the past month. This increase is largely due to a few important reasons. There has been a dramatic spike in whale activity, as investment pours into digital collectibles, especially the high-profile ones, and the general market excitement over NFT-related tokens.
Boosters are convinced that PENGU has the potential to replicate PEPE’s success. If so, the price could increase to $0.24. In an intermediate bullish case, if PENGU manages to rebound that success could see it hitting the $0.043–$0.046 region. If sustained momentum continues, it may reach up to $0.075 or even $0.097.
It is critical to understand the downside risk and be aware of them. If PENGU were to break down and lose its current footing above key areas of support, it may potentially drop back down to around $0.023. Right now, PENGU is testing the $0.035–$0.0317 support zone, an important zone to be monitored as price could either rebound or break down in this area.
Whale activity has already proven highly influential on PENGU price. Most notoriously, increasing demand from large holders led to a jaw-dropping 17% single-day price spike. This exercise highlights the crucial role large investors play in the token’s market behavior. PENGU is flying high and on its way to beat its all-time high of $0.045. This movement is a reflection of the powerful bullish enthusiasm that is permeating the token.
PENGU’s longer-term projections, as is always the case, are dependent on overall market circumstances and sustained demand for NFT-linked tokens. Long term growth potential is quite impressive given forecasts that show a projected average price of $0.87 by 2028.
