The prices of cryptocurrencies BONK, PENGU, and PNUT have shown a significant drop after their listing on the Robinhood platform. This situation aligns with traders' cautious attitudes toward new assets.
Market Condition Post Listing
Latest figures indicate that BONK is priced at $0.00002413, with a change of -5.3% over the last 24 hours. PENGU has fallen to $0.03300, down by -6.7% since yesterday, while PNUT trades around $0.22, down -3.1%. XLM is hovering near $0.389, showing a -5.1% change in the last 24 hours. These changes occurred on the listing day on Robinhood as traders began to take profits.
Token Profiles of BONK, PENGU, and PNUT
BONK is a typical meme token with a supply of 77 trillion tokens, limiting its growth potential. PENGU, associated with NFT ecosystems, has also faced difficulties, despite high trading volumes. PNUT, priced at $0.22, is supported primarily by its meme community, which creates price pressure.
Price Outlook for Tokens
Short-term forecasts suggest that BONK will likely range between $0.00002 and $0.00003. For PENGU, modest upside might be possible with ETF support or ongoing NFT adoption, though its minimum target is considered $0.025. Analysts predict that the price of PNUT might stabilize around $0.20, with a potential recovery to $0.25-$0.30 if trading volumes pick up.
The current state of the cryptocurrency market post-Robinhood listing highlights traders' cautious sentiment towards new assets, resulting in price declines. The market is expected to remain unstable until new support emerges for the mentioned tokens.
