{"id":624466,"date":"2025-02-06T04:28:04","date_gmt":"2025-02-06T04:28:04","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=624466"},"modified":"2025-02-06T04:28:04","modified_gmt":"2025-02-06T04:28:04","slug":"pudgy-penguins-price-prediction-pengu-the-biggest-loser-on-coinmarketcap-after-12-drops-as-investors-turn-to-this-crypto-for-easier-meme-coin-investing","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/pudgy-penguins-price-prediction-pengu-the-biggest-loser-on-coinmarketcap-after-12-drops-as-investors-turn-to-this-crypto-for-easier-meme-coin-investing","title":{"rendered":"Pudgy Penguins Price Prediction: PENGU The Biggest Loser On CoinMarketCap After 12% Drops As Investors Turn To This Crypto For Easier Meme Coin Investing"},"content":{"rendered":"

The Pudgy Penguins price plunged more than 12% in the last 24 hours to trade at $0.01192 as of 10:49 p.m. EST as investors dump their holdings in the meme coin on the market.<\/span><\/p>\n

With this sharp drop in the PENGU price, the crypto has emerged as the biggest 24-hour loser in the crypto market, according to CoinMarketCap.<\/span><\/p>\n

Pudgy Penguins Price Prints A Lower High<\/span><\/h2>\n

\"PENGU<\/p>\n

4-hour chart for PENGU\/USD (Source: GeckoTerminal)<\/span><\/p>\n

The <\/span>Pudgy Penguins<\/span><\/a> price printed a second lower high on the 4-hour chart in the last 24 hours, resulting in the formation of a medium-term negative trend line, <\/span>GeckoTerminal data<\/span><\/a> shows. Now, the meme coin is resting on the support level at $0.01146. Should it drop below this technical safety net within the coming few hours, PENGU could plunge to $0.00999.<\/span><\/p>\n

On the other hand, traders identifying the crypto’s current price as a buy opportunity might lead to a more bullish scenario playing out. In this alternative case, the Pudgy Penguins price will likely attempt to breach the recently-formed descending trendline.<\/span><\/p>\n

If PENGU is able to clear the new obstacle, it might then try to flip the resistance level at $0.01391 into support. Thereafter, continued pressure from bulls could lead to a rise to as high as $0.01623 in the short term.<\/span><\/p>\n

Technicals Suggest The Pudgy Penguins Price Could Go Either Way<\/span><\/h2>\n

From a technical standpoint, indicators on PENGU’s 4-hour chart are sending mixed signals. On one hand, the Relative Strength Index (RSI) shows signs of increasing buyer strength. However, the Moving Average Convergence Divergence (MACD) indicator suggests the Pudgy Penguins price is on the verge of entering a negative trend.<\/span><\/p>\n

In recent hours, RSI readings have started to climb. Rising RSI values are often seen as a sign that sellers are weakening. With the positive slope of the RSI line, it seems bulls might continue to chip away at bears’ grip on the <\/span>Pudgy Penguins<\/span><\/a> price in the next 24 hours, which could lead to a major shift in power from sellers to buyers.<\/span><\/p>\n

Meanwhile, the MACD line has collapsed in on the MACD Signal line. Should the two technical indicators cross, traders might interpret the technical event as an indication that the Pudgy Penguins price has entered a bearish cycle and subsequently begin to panic sell.<\/span><\/p>\n

As traders wait for a confirmation of which direction the Pudgy Penguins price will move in next, investors are turning their attention to meme coin rival <\/span>Meme Index (MEMEX)<\/span><\/a>. According to popular crypto analyst and YouTuber Jacob Bury, who has over 54.9K subscribers, MEMEX could be the next 10X opportunity to hit the market.<\/span><\/p>\n