Tag: drives

• The Pengu Penguins (Pengu) price increases 43.7% in 24 hours and reaches a maximum of two months.
• Alcist technical factors and ecosystem growth drive the increase, but the RSI indicates overcompra conditions.
• The ETF approval of Pengu Penguins can make Pengu pass from $ 0.015 to $ 0.022.

The cryptocurrency market has been electrified by the meteoric rise of Pudgy Penguins (Pengu), which has reached a maximum of two months, captivating both investors and traders.

In 24 hours, the PENGU price has triggered 43.7%, reaching 0.01394 $, a level not seen since February, thus breaking the persistent resistance barriers. After weeks of languishing in a narrow contribution range between $ 0.004 and $ 0.0073, the Token has finally aroused, driven by a combination of technical impulse and fundamental catalysts.

The negotiation volume has also triggered 215.26% to 476.86 million dollars, while the derivative activity has fired 328.66% to 1,270 million dollars, According to Coinglass data which reflects the intense interest promoted by this rebound.

Why is the price of Pengu Penguins going up today?

Pengu’s rupture after a long consolidation phase marks the beginning of this rebound, since the Token broke its negotiation range of several weeks with decisive force.

This technical change was accompanied by a drastic increase in the volume of negotiation, a revealing sign of a strong buying conviction and a possible change in trend.

The bullish signals of the relative force index (RSI), which now exceeds 85, highlight the overwhelming buying pressure that drives the rising price. Similarly, the mobile average of convergence and divergence (MACD) has entered into Alcista territory, with the MACD line exceeding the signal line, reinforcing the bullish impulse. For three consecutive days, Pudgy Penguins (Pengu) has closed above its 20 -day exponential (EMA) mobile average and its 50 -day simple mobile average (SMA), an unusual alignment that indicates a possible transition to a sustained upward trend.

The true average range (ATR) has also had an upward trend since April 21, indicating a return of volatility that often precedes significant price movements.

Beyond the technical aspects, P Its launch on the Robinhood platform based in the US . which has offered the more exhibition to Token.

Besides, The next Solana Security Class scheduled for April 26, 2025, in collaboration with Boring Security Dao, promises to improve community confidence by educating users about block chain safety, which generates some expectation for the Token.

Perhaps the most attractive factor is the possible approval of an ETF of Pengu, presented by Canary Capital, which could generate an avalanche of institutional capital.

This speculation alone has probably driven investors to invest in large quantities, betting on a transformative change that could raise Pengu’s position in the cryptocurrency market.

How far can the Peague price get?

With the PENGU price already rising more than 43% in one day, the attention now focuses on its next objectives, starting with the critical level of resistance of 0.0145 $.

A decisive rupture above $ 0.0145, backed by a robust volume, could boost the token towards $ 0.015, a psychological threshold that previously stopped the progress in January.

If the impulse takes it above $ 0.015, the mark of $ 0.022 is emerging as a plausible objective, where previous support levels could attract new purchases or profits. However, maintaining these gains depends on Pengu’s ability to stay above these areas, especially with the RSI indicating overcompra conditions that could presage a short -term pause.

If the $ 0.0145 or $ 0.015, could trigger a setback, with a possible support around 0.01 $ or even 0.006 $, the upper limit of its previous range.

The imponderable factor in this equation is the possible approval of the PENGU ETF, which could catapult the price far beyond current expectations. An ETF approved would allow institutional actors to invest indirectly, possibly replicating the explosives observed with Bitcoin after the milestones of their own ETF.

This influx of capital could stabilize volatility, strengthen Pengu’s legitimacy and boost it to previous peaks or even new levels.

However, uncertainty about the ETF schedule moderates this optimism, since a reaction of “buying the rumor, selling the news” could make the profits evaporate after approval. Derivative markets, according to Coinglass, offer a mixed panorama: a long -bull -raised long/short relationship of 1,0309 contrasts with the bearish feeling of the main operators in Binance and OKX, which suggests caution before the rapid ascent.

Even so, with the growth of the ecosystem, a passionate community and the technical solidity at stake, P The next few days will reveal whether this increase is the beginning of a lasting bullish trend or a fleeting peak fed by exaggeration.