The Pudgy Penguins price soared 14% in the last 24 hours to trade at $0.03117 as of 02:08 a.m. EST on trading volume that dropped 2% to $2.3 billion.
This comes even as the overall crypto market cap plunged 4% to $3.6 trillion after the Federal Reserve turned more cautious on cutting interest rates.
Pudgy Penguins Price Headed Towards A Continued Surge
The PENGU/USD chart displays high volatility, with a significant spike in Pudgy Penguins price followed by a sharp correction. The PENGU price experienced a massive vertical pump to a peak near $0.08, which was quickly followed by an equally sharp retracement, according to data from GeckoTerminal .
Following the initial correction, the price has entered a bullish flag pattern, as marked by two parallel upward-sloping trendlines.
The Relative Strength Index (RSI) is currently at 46.15, which is in the neutral zone. RSI below 50 indicates a slight bearish bias, but the overall positioning remains neutral. The RSI’s decline from overbought levels after the pump suggests the market has cooled down and is consolidating.
The flag suggests the possibility of a continuation to the upside if key resistance levels are broken. PENGU is currently on a neutral to bullish trend, with the potential for a breakout above $0.036, leading to retests of higher levels. A sustained trend could push the Pudgy Penguins price up towards the $0.043 resistance level.
PENGUUSD Chart Analysis Source: GeckoTerminal
A breakdown below $0.032 could lead to further downside, potentially targeting the pre-pump levels around $0.02.
Meanwhile, investors are piling into a new PEPE derivative called Wall Street Pepe (WEPE) , which crypto influencer ClayBro, with over 133k subscribers, predicts will make millionaires.
Wall Street Pepe Races Past $31.2 Million In Presale
The Wall Street Pepe presale has surged past $31.2 million in less than two weeks, cementing its position as the hottest meme coin project of 2024.
The project introduces a new coin designed to empower small traders by providing exclusive market insights, trading tips, and strategies. It seeks to level the playing field, challenging the dominance of secretive whales.
By holding the $WEPE token, investors can also earn a 41% annual percentage yield (APY), providing a lucrative passive income stream.
Investors can buy $WEPE Token from the official website for $0.0003649 using ETH, USDT, or a bank card.
If you would like to join, buy before a price hike in less than 7 hours.
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