PENGU has broken through the neckline with a strong rise; the target price may increase by another 75%.
PENGU has recently performed exceptionally well, rising over 23% during trading to $0.0177, reaching a new high since January 29, with an accumulated increase of 125% from last month's low, and rebounding 370% from the bottom this year. Its market cap has returned to $1 billion, ranking among the top 89 crypto assets.
Behind the rise, the U.S. SEC acknowledges that its spot ETF application is an important catalyst — this ETF will invest 80%-95% of assets in PENGU tokens and 5%-15% in Pudgy Penguins NFTs, linking the tokens with the IP ecosystem.
On-chain data shows that whales increased their holdings of PENGU by 21% in the past month, with a total holding of 2.18 billion coins.
The trading volume on exchanges has decreased from 15.6 billion coins on June 12 to 14.3 billion coins, alleviating selling pressure. The derivatives market is also warming up, with the weighted financing rate turning positive for the first time since July, reflecting a rise in bullish sentiment.
From a technical perspective, PENGU has formed a bullish cup-and-handle pattern on the daily chart; after breaking through the neckline, the measured rise based on the pattern has a target price of about $0.0318 (75% increase from current price), with a support level at $0.0142; if it falls below this, the bullish outlook will be invalidated.
XRP is currently overbought with pullback risks; analysts advise caution.
XRP current price is $2.32, with a weekly increase of 6%, but analyst Levi Rietveld warns of short-term risks.
The daily chart shows long-term overbought conditions, and the 15-minute chart is nearing the FBB resistance level, historically indicating a pullback often occurs after similar patterns.
On the macro front, geopolitical instability and Federal Reserve policies are unfavorable for liquidity inflow, making it difficult to support a significant rise in XRP.
In addition, whale movements have been frequent recently, which may entice retail investors to chase the rise and then close positions for profit. Rietveld believes that the current rise may be short-term volatility, and investors should be wary of pullbacks.
Potential altcoins for 2025: SOL and MUTM are gaining attention.
• Solana (SOL): The number of active addresses on-chain exceeded 23 million in June, and the total locked value (TVL) increased from $6 billion at the beginning of the year to $8.6 billion, with institutional interest rising (e.g., DeFi Development Corp increased holdings by $2.7 million); if the momentum continues, it may break through $200.
• Mutuum Finance (MUTM): The DeFi token presale performed brightly, with 60% sold in the fifth round, raising $12 million, with 13,000 investors participating, current price is $0.03 (the sixth phase will increase by 17%).
The project has been audited by CertiK, with a bug bounty set at $50,000, focusing on Ethereum stablecoins and a dual lending model (P2C passive income pool + P2P free lending), along with a $100,000 giveaway event, regarded as an early investment opportunity.
Overall, PENGU shows strong bullish momentum in the short term, while XRP needs to guard against pullbacks. SOL and MUTM each have long-term logic, and investors can plan their investments according to their risk preferences.