Pudgy Penguins Price Prediction: As PENGU Plummets 9%, Investors Pivot To This New Crypto With 2,112% Staking APY
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The Pudgy Penguins price plunged 9% in the last 24 hours to trade at $0.03228 as of 11:24 p.m. EST on trading volume that plummeted 29% to $375 million.
The meme coin market traders continue witnessing massive volatility and shifting opportunities. In December, meme coins climbed to a market cap of $137 billion before falling back to as low as $92 billion in the same month.
According to data from CoinGecko, the market capitalization of the meme coin space has dropped 2% in the last 24 hours to $106 billion.
Pudgy Penguins Price On A Bearish Trend
The Pengu price analysis on the 1-hour timeframe reveals a clear downtrend over the past few trading sessions, confined within a falling channel pattern.
This bearish structure has led to successive lower highs and lower lows, signaling persistent selling pressure. The Pudgy Penguins price recently bounced from the lower boundary of the falling channel, currently trading at $0.03228, according to GeckoTerminal data.
The 50-day Simple Moving Average (SMA) is at $0.03432, while the 200-day SMA is at $0.03321, with the price trading below both. This alignment of the SMAs suggests that the overall trend remains bearish.
However, the price of Pengu has found temporary support near the channel’s lower boundary at $0.03092, which may offer a short-term consolidation or relief rally.
The Relative Strength Index (RSI) is at 36.74, hovering just above oversold territory. This suggests that selling pressure may be waning, and the PENGU price could rebound in the short term.
However, the overall momentum remains bearish unless the RSI crosses into the neutral zone (above 50).
If the price of Pudgy Penguins fails to hold above the channel’s lower boundary (around $0.03000), further downside could be expected, potentially targeting the psychological support level of $0.02500.
However, a breach above the 50-day SMA at $0.03432 could lead to a test of the upper boundary of the descending channel near $0.03500.
If bullish momentum picks up and volume increases, the Pengu price might target the 200-day SMA at $0.03321 as the next major resistance level.
As the Pudgy Penguins price drops, investors are buying a new coin called Meme Index (MEMEX). According to crypto analyst and YouTuber Jacob Bury, who has over 53k subscribers, MEMEX has the potential to be the next 10x crypto.
Meme Index Presale Surges Past $1 Million
The new crypto presale Meme Index has already garnered over $1.1 million in its surging presale.
The Meme Index marks a significant advancement in the meme coin ecosystem. It offers investors exposure into curated meme coin indexes.
With $MEMEX, users have access to four exclusive meme coin baskets: the Meme Titan Index, Meme Moonshot Index, Meme Midcap Index, and Meme Frenzy Index.
Each basket caters to varying risk appetites, from relatively stable options to ultra-high volatility picks.
For instance, the Frenzy Index features emerging and highly volatile meme coins for those seeking a thrilling investment experience with potentially huge rewards and high risk.
🚨 Meme Index is live in Upcoming Tokens! 🚨@memecoin_index presents the first-ever diversified meme coin platform, powered by $MEMEX, giving unparalleled access to the $120 billion meme coin market.
Meme Index offers exclusive access to indexes that cater to every risk… pic.twitter.com/GsiBBuZOzX
— Best Wallet (@BestWalletHQ) December 27, 2024
MEMEX holders can also participate in its presale staking pool, which currently provides a stratospheric annual yield of 2,112%.
To participate in the presale, you can purchase MEMEX tokens on the official website for just $0.0147457.
Buy soon to lock in the best deal as the price will increase in about one day.
Buy MEMEX tokens using USDT, ETH or bank card.
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