Pudgy Penguins (PENGU) has once again attracted traders' attention after a significant price increase and spike in trading volumes. The price of PENGU has risen nearly 15% in the last 24 hours due to several contributing factors.
Overview of PENGU
The current price of PENGU is approximately $0.01298, with trading volume increasing by 116% on major exchanges. The market is reacting to whale movements and renewed interest on social media.
Reasons Behind Price Surge
The price surge started after whales bought over 200 million PENGU tokens, worth about $2.4 million. Simultaneously, rumors surfaced about a possible ETF filing for PENGU with the SEC, although there is no official confirmation yet. A statement made by an expert on Twitter reads: “PENGU is on track to average 1 billion daily views by the end of the year.”
Technical Analysis and Future Predictions
Data from Binance shows a steady bullish trend on the price charts, with consistent higher highs and higher lows. Current levels of PENGU are holding around Fibonacci levels, with upcoming targets hovering around $0.01273, which traders will be closely monitoring. If it closes above this level, a further push toward $0.013 and higher is anticipated.
Pudgy Penguins (PENGU) continues to exhibit market activity, drawing traders' interest and enthusiasm concerning its growth. Future price movements will determine the impact on upcoming trends.
