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The Pudgy Penguins price pumped 9% in the last 24 hours to trade at $0.03306 as of 7:06 p.m. EST on trading volume that skyrocketed 60% to $619 million.
Pudgy Penguins Price On A Bullish Trend Reversal
The Pudgy Penguins price analysis on the 4-hour timeframe shows that PENGU has been trading within the confines of a falling channel pattern, according to CoinGecko data. The recent action shows the Pudgy Penguins price breaching the upper boundary of the channel at $0.032, indicating a potential bullish trend reversal.
Meanwhile, the 50-day Simple Moving Average (SMA) is currently acting as a dynamic resistance at approximately $0.03459, and the price of Pudgy Penguins is showing signs of retesting this level. If the wedge breakout occurs, the price could test the horizontal resistance level marked around $0.045. A breakout above this resistance could trigger further bullish momentum.
Overall, the pattern suggests that the market is transitioning from a bearish to a potential bullish phase.
The Relative Strength Index (RSI) is currently at 49.86, hovering just below the neutral 50 level. This indicates a lack of strong momentum in either direction, though the RSI is gradually increasing, which suggests mild bullish divergence. A move above 50 could confirm increasing bullish strength.
The Moving Average Convergence Divergence (MACD) line (blue) is slightly above the signal line (orange) with a reading of 0.00023, which suggests a potential bullish crossover.
PENGU/USDT Chart Analysis (Source: Tradingview)
Pudgy Penguins Price Prediction
The general Pudgy Penguins price outlook shows a bullish trend reversal over the falling channel. If the price of Pudgy Penguins continues to rise above the channe and the 50-day SMA, the next major target is the $0.045 resistance level. This aligns with prior highs and serves as a key psychological level for traders. A confirmed breakout above this level could pave the way for further bullish continuation.
On the downside, failure to break above the falling channel or the 50-day SMA could result in the PENGU price revisiting the channel’s lower boundary around $0.029, which would act as immediate support.
As the Pudgy Penguins price surges, investors are also buying up meme coin rivals like Flockerz (FLOCK).
According to 99Bitcoins, a popular crypto channel on YouTube with over 706K subscribers, FLOCK has the potential to soar 100X after its launch.
Flockerz Presale Amasses Over $8.3 Million
The viral meme coin Flockerz is creating a buzz and driving strong FOMO as its presale funding zooms past $8.3 million. The $FLOCK ICO is set to wrap up in just 21 days, so this is the last chance to buy before its launch.
Flockerz is a decentralized token that calls itself “the people’s meme coin.”
That’s because every $FLOCK holder becomes a member of the FlockTopia Decentralized Autonomous Organization (DAO), allowing them to vote on key decisions like exchange listings, new features, and marketing plans.
Flockerz rewards these votes through its vote-to-earn program, ensuring the community benefits financially for running the project.
Even if everything's burning around you.
You're always okay when you're with the flock! pic.twitter.com/dDeu98Flob
— Flockerz (@FlockerzToken) November 19, 2024
Apart from V2E rewards, users can also earn passively through the platform’s staking mechanism, which offers a sky-high annual yield of 328%.
Investors interested in joining the presale can visit the official Flockerz website to buy FLOCK tokens at the current price of $0.0065823 each using BNB, ETH, USDT, or a bank card.
Buy before the presale ends in about 21 days.
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