The global cryptocurrency market has seen a slight increase in market capitalization, rising by 0.50% to reach $3.5 trillion, despite a significant drop in overall market volume, which fell by 29.19% to $88.22 billion.
Among the notable performers is Pudgy Penguins $PENGU
which has demonstrated a robust recovery following a recent dip.
Currently trading at $0.04111, PENGU has experienced a 13.12% increase in the last 24 hours, with a market cap of $2.58 billion and a trading volume of $758.89 million, marking a substantial 72.32% rise.
PENGU's fully diluted valuation stands at $3.65 billion, with a circulating supply of 62.86 billion tokens out of a maximum supply of 88.88 billion. Ranked #54 among altcoins, PENGU shows strong trading activity, evidenced by a 24-hour volume-to-market cap ratio of 29.36%.
Technical analysis indicates critical support at $0.03735 and resistance at $0.04247. The token is currently trading above its 9-day and 21-day moving averages, suggesting bullish momentum.
The Relative Strength Index (RSI) is at 66.56, indicating strong buying pressure, while the average RSI of 57.89 supports a bullish outlook.
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