PENGU cryptocurrency skyrocketed 41% in 24 hours, market cap surpasses WIF—what's next?
Recently, many cryptocurrencies have been gradually recovering, but Pudgy Penguins (let's just call it Pengu) has been on fire in the last 24 hours.
The PENGU cryptocurrency surged over 41% in just 24 hours, surpassing WIF, making it more valuable in market cap terms.
This meme coin is currently selling for $0.036235 each, breaking through the descending triangle pattern, looking strong.
Pengu has been gaining momentum lately and is now ranked fifth among meme coins on the Solana blockchain.
In just one day, the market cap of Pengu soared to $2.32 billion, with the price increasing by 41.28% to $0.0371 each.
With this surge, Pengu's market cap has exceeded WIF, which is now only $2.07 billion. Pengu is becoming increasingly popular in the meme coin space.
People love it so much, possibly due to speculative trading or new investments coming in, as they believe it will be useful in the future and will be accepted by more people.
As a result, these coins may follow the speculative trend and rise even more; if this momentum continues, prices are likely to go up.
Let's talk about Pengu's price trends and predictions:
Pengu's trend looks promising, having just broken out of the descending triangle pattern.
It started selling at $0.036235, then dropped to $0.028392, which looks like a good spot for bulls to set up.
This pattern generally indicates that after consolidation, it should rise and hit new highs.
Our predicted targets are $0.044073 and $0.054105, which are potential hurdles in the future. At those price levels, more buyers are likely to come in, all hoping for further increases.
If this trend can be sustained, Pengu's price is expected to rise in the short term, possibly reaching our predicted price levels.
Now, let's take a look at the distribution of holders and addresses:
Just by looking at the data, it's clear that Pengu has a significant number of holders, much stronger compared to other cryptocurrencies.
Pengu currently ranks in the top seven, with 511,180 holders, while WIF only has 213,654.
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