The token $PENGU , the native asset of the Pudgy Penguins ecosystem on the Solana blockchain, has shown an impressive growth of 64% over the past week, reaching $0.0137. This surge is partly related to PENGU's strong correlation with Bitcoin (0.70), which continues to set new highs. Additionally, the growing demand for Pudgy Penguins NFTs, which recorded $1.44 million in sales over the week (+34%), supports the bullish momentum.
However, analysts warn: the CMF indicator points to weak real demand, and 47.72% of the tokens are owned by large holders who could trigger a correction during mass selling. If PENGU breaks the resistance at $0.0151, the price could rise to $0.0180. In case of declining demand, the token risks falling to $0.0100. Expectations regarding a possible ETF and the activity of whales add optimism, but volatility remains.
Will PENGU stay at the top? Keep an eye on market trends and join #MiningUpdates to stay updated!
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