Amidst the recent surge in interest towards the PENGU token, leading crypto analysts are considering its potential to repeat PEPE's rapid rise. The focus is on technical analysis and current market conditions.
Market Similarities Between PENGU and PEPE
Analyst Ali Martinez presented a comparison chart of PENGU and PEPE, showing the similarity in their roadmaps. He indicated that if the current model holds, PENGU could reach $0.24. To achieve this, the token needs to break through the resistance in the $0.015-$0.017 range.
Current Supports and Buying Opportunities
Ali Martinez noted that PENGU consistently uses the 10-day SMA as a reliable launching pad for price rallies. With the current price around $0.035, this presents potential entry points for traders ahead of possible breakout.
Future of PENGU: Fundamental Analysis and Speculations
Over the last month, PENGU has surged by over 295%. With rising trading volumes and investor interest, further growth is possible. There are rumors about a potential PENGU ETF filing, which could increase interest in the token, however, there is no official confirmation yet.
Some analysts speculate that PENGU could replicate PEPE's success if it manages to solidify its position at current levels and overcome significant resistances.
