Pudgy Penguins token demonstrates a rebound after crossing a crucial resistance level and increased NFT sales.
Pudgy Penguins Token Price Surge
Pudgy Penguins token (PENGU) rose to $0.01450 on Saturday, June 28, marking its highest value since May 23. The token saw a 52% increase from its lowest point last week and a 232% rise from this year's lows.
NFT Sales Data
Third-party data indicated that sales of Pudgy Penguins NFTs rebounded over the past week. Reports from CryptoSlam revealed that sales jumped by 38%, totaling $1.5 million. There were 68 transactions, a 36% increase from the previous week, and both buyers and sellers grew by 48% and 32%, respectively. Pudgy Penguins was ranked as the tenth most popular NFT collection during this period.
PENGU Token Technical Analysis
The daily chart indicates that PENGU's price has rebounded in recent days after forming a descending channel. It surpassed the channel's upper boundary and the 25-period exponential moving average. The Percentage Price Oscillator has moved above the zero line, suggesting that momentum is building. The token is likely to continue rising towards the next key resistance level at $0.01742.
Thus, the recent rise of the Pudgy Penguins token has been supported by increased NFT sales and large investor activity, suggesting potential for further growth.
