{"id":637352,"date":"2025-03-21T03:54:39","date_gmt":"2025-03-21T03:54:39","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=637352"},"modified":"2025-03-21T03:54:39","modified_gmt":"2025-03-21T03:54:39","slug":"pudgy-penguins-price-prediction-canary-capital-files-for-pengu-etf-as-investors-flock-to-this-meme-coin-ico-with-just-10-days-left","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/sponsored\/pudgy-penguins-price-prediction-canary-capital-files-for-pengu-etf-as-investors-flock-to-this-meme-coin-ico-with-just-10-days-left","title":{"rendered":"Pudgy Penguins Price Prediction: Canary Capital Files For PENGU ETF As Investors Flock To This Meme Coin ICO With Just 10 Days Left"},"content":{"rendered":"

The Pudgy Penguins price slipped over 1% in the last 24 hours to trade at $0.006485 as of 10: 19 p.m. EST as some investors decrease their portfolios’ exposure to the crypto.<\/span><\/p>\n

The drop in the PENGU price comes even after asset manager Canary Capital <\/span>filed<\/span><\/a> to list an exchange-traded fund (ETF) for the meme coin.<\/span><\/p>\n

Pudgy Penguins Price Falls Below Support<\/span><\/h2>\n

\"PENGU<\/p>\n

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

The Pudgy Penguins price dropped below the support level at $0.006701 in the last couple of hours, according to <\/span>GeckoTerminal<\/span><\/a> data. Should traders start to short the <\/span>meme coin<\/span><\/a> at this point, it might be at risk of testing the subsequent support at $0.006119 soon. In an extreme bearish case, PENGU could even drop to as low as $0.005477 in the short term.<\/span><\/p>\n

However, a more bullish scenario might end up playing out if the Pudgy Penguins price is able to recover to above the $0.006701 resistance in the next few hours. Traders might then see a climb back above this level as a long confirmation. This potential buy pressure could then push the Pudgy Penguins price up to the next resistance at $0.007344.<\/span><\/p>\n

Bears Are Starting To Take Full Control Of The Pudgy Penguins Price<\/span><\/h2>\n

From a technical standpoint, indicators on PENGU’s 4-hour chart warn the meme coin’s price might drop in the next 24 hours. More specifically, indicators such as the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) show bears have a slight upper hand against bulls.<\/span><\/p>\n

That’s after RSI readings dropped from above 60 to below the neutral 50 mark, signaling that there has been a bearish shift in power on PENGU’s 4- hour chart. If the RSI continues to drop in the next few hours, the pressure from sellers may be too overwhelming for buyers. This could then result in a drop in the PENGU price.<\/span><\/p>\n

A major bearish technical flag was also triggered by the MACD after the MACD line crossed below the MACD Signal line in the last few hours. This specific technical event is often seen as a confirmation that a <\/span>crypto<\/span><\/a> has entered a negative trend. Should the MACD line start to break away below the MACD Signal line, it could indicate growing bearish momentum.<\/span><\/p>\n

While sellers take over on PENGU’s charts, investors flock to the presale for a new meme coin rival called <\/span>Meme Index (MEMEX)<\/span><\/a> to grow their crypto holdings. <\/span><\/p>\n

Several experts have stepped forward to share their bullish predictions for MEMEX. Among them is an analyst at the 99Bitcoins YouTube channel, which has over 725K subscribers. In a recent video, the analyst said the new meme coin has the potential to be the next 100X crypto.<\/span><\/p>\n