Key Insights:
- The PENGU price surge is fueled by increased volume, signaling a market structure flip and breakout potential.
- PENGU targets $0.039–$0.040, with strong support around $0.025 for further gains.
- Pudgy Penguins NFTs saw $3.4M sales, outpacing major collections, boosting PENGU price momentum.
Pudgy Penguins (PENGU) has been showing impressive growth, with a strong upward trend in recent days. This momentum comes amidst rising trading volume and a resurgence of interest in the Pudgy Penguins NFT collection. Speculation surrounding potential partnerships and game launches has contributed to the surge in activity.
Trading Volume Soars and Market Structure Flips
The recent surge in Pudgy Penguins’ token price coincides with a marked increase in trading volume. Over the past 24 hours, the volume has surpassed $582 million, representing a 28% increase from the previous day. The price is now hovering around $0.031761, marking a clear rebound from earlier pullbacks.
Analysts are particularly watching the 4-hour chart for signs of a market structure flip. Confirmed Accumulation phase followed by a strong CHOCH (Change of Character)” is being noted as a key signal for a market shift, suggesting that the token could be entering a new expansion phase.
Potential Breakout | Source: XPENGU faces resistance in the $0.035–$0.040 range. If the price breaks through this zone, it could revisit the July highs of $0.046. The token has found solid support around the $0.025 mark, maintaining a steady position over the past month. A sustained push above $0.04 is seen as the key to unlocking further gains.
Growing Interest in the Pudgy Penguins Ecosystem
Meanwhile, PENGU is poised for explosive growth, predicting potential 5x to 10x gains from current price levels. Such a breakout would align with the growing optimism around the Pudgy Penguins ecosystem. The rise in PENGU’s price is not only linked to the token itself but also to the renewed interest in the Pudgy Penguins NFT ecosystem.
Last week, sales of Pudgy Penguins NFTs reached $3.4 million, reflecting a 15% increase. This growth surpassed even the performances of well-established collections, such as the Bored Ape Yacht Club. The floor price for Pudgy Penguins NFTs remains at 14.8 ETH, signaling ongoing confidence among collectors.
Rumors of partnerships, including a potential NASCAR collaboration and brand tie-ins with popular mobile games, have fueled retail interest. These developments suggest that the Pudgy Penguins brand is expanding beyond its NFT roots, offering new reasons for investors to be optimistic about the token’s future growth.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Source: https://coincu.com/analysis/pengu-price-surge-signals-market-flip/
