• PENGU drops 3.54% regardless of 31.67% spike in buying and selling quantity to $61.03 million.  
• Technical indicators present bearish momentum; RSI at 33.23, MACD stays flat.
• Token trades properly under launch excessive of $0.05738, now at $0.005065 with excessive volatility.

Pudgy Penguins’ native token, PENGU, continues to face promoting stress, falling 3.54% over the previous 24 hours regardless of a pointy surge in buying and selling quantity. The token is now priced at $0.005065, down from earlier intraday highs of $0.005246. PENGU briefly dipped under the $0.005 mark earlier than recovering in the course of the session, highlighting elevated volatility throughout decrease timeframes.

Based on CoinMarketCap information, PENGU’s 24-hour buying and selling quantity rose to $61.03 million, a 31.67% enhance. The buying and selling surge coincides with a declining price pattern, suggesting intensified buying and selling exercise or short-term repositioning by traders.

PENGU’s market capitalization presently stands at $318.4 million, with a completely diluted valuation (FDV) of $450.25 million. Circulating provide figures have reached 62.86 billion PENGU, whereas the overall provide is capped at 88.88 billion. The amount-to-market cap ratio is at 19.2%, indicating excessive liquidity ranges relative to market capitalization.

At the moment, PENGU is buying and selling under the price it was on the first day of its launch, for which it had a robust buying and selling quantity. The token was launched on December 17, 2024, and it went by means of excessive volatility and reached a peak of $0.05738 on the finish of the day. However the price dropped within the subsequent days and recorded a low of $ 0.02302 on December 20.

Technical Indicators Mirror Bearish Continuation

Brief-term indicators recommend that PENGU stays underneath bearish stress. On the 4-hour chart, the Relative Power Index (RSI) is recorded at 33.23, hovering simply above the oversold degree of 30. The RSI line is presently under its sign line, which is at 33.02, signaling weakened shopping for curiosity.

The Transferring Common Convergence Divergence (MACD) indicator additionally aligns with the continued downward momentum. The MACD line and the sign line are each positioned at -0.000287, with the histogram displaying minimal exercise across the zero mark.

The price pattern has been adverse since late March, forming a sample of decrease highs and decrease lows. The short-term outlook stays cautious with RSI close to oversold territory and no bullish alerts from MACD. 

This token would possibly endure additional retracement if the RSI goes under 30 and the MACD fails to current a bullish divergence. Conversely, if RSI begins to pattern increased or if MACD produces a bullish crossover then the tide is turned within the favor of consumers.