#Pengu
Trade now . ๐ฏ๐ฏ๐ค๐คโคโค๐๐คฉ๐๐โค
๐๐๐๐๐ ๐๐ง๐๐๐ ๐ ๐ช๐ข๐ฅ๐จ 30% ๐๐ค๐๐๐ฎ ๐ผ๐จ ๐๐๐พ ๐ผ๐๐ ๐ฃ๐ค๐ฌ๐ก๐๐๐๐๐จ ๐พ๐๐ฃ๐๐ง๐ฎโ๐จ ๐๐๐; ๐๐จ $0.035 ๐๐๐ญ๐ฉ?
Pudgy Penguins (PENGU) has recorded a massive rally in the last 24 hours after surging by more than 30% during this time, to trade at $0.0196 today, July 10. The gains come after reports that the US Securities and Exchange Commission (SEC) had acknowledged Canaryโs filing for a PENGU ETF. Meanwhile, a bull flag pattern suggests that the ongoing PENGU price rally is only getting started, and the meme coin might reach $0.035.
PENGU price has been trading within a bull flag pattern, and after its massive gains in the last 24 hours, it has finally broken out, confirming that bulls are fully in control. However, this breakout is not the end of this rally because the upward trend might continue up to the target price of $0.035.
However, despite this breakout rally, PENGU has yet to confirm a daily close above the resistance level of $0.0156. This top meme coin on the Solana blockchain needs to close todayโs candlestick above this resistance level and later retest this level as a strong support to confirm that the bullish flag breakout has happened.
Getting to the bull flagโs target price will mark the highest level that Pudgy Penguins has attained since January. Besides, the indicators are showing that the rally might still be in its initial stages, and more gains might be imminent.
When the ADX line is rising like it is now, it shows that the upward rally that started in late June will likely continue. Additionally, the positive CMF indicator that has been creating higher highs is also favoring a bullish outlook, as the PENGU price will likely benefit from the positive capital inflows.
Besides the technical structure that favors bullish traders, the ongoing developments within the Pudgy Penguins ecosystem also suggest that more gains are likely to happen.
