PENGU’s trading volume reached $1.75 billion in 24 hours, signaling strong investor interest tied to its mobile game launch.
Coinbase’s adoption of a Pudgy Penguins NFT as its profile picture pushed community visibility and lifted PENGU's weekly gain to over 117 percent.
Technical analysis highlights near-overbought RSI and volatile Bollinger Bands, with key support at $0.031 and resistance around $0.038.
The meme coin PENGU, officially tied to Pudgy Penguins, recorded a significant surge in market activity as attention builds around the upcoming launch of the Pudgy Party mobile game. According to CoinMarketCap data, PENGU jumped from $0.02897 to a peak of $0.03456 before consolidating near $0.03242. The spike follows intense investor interest and heightened exposure on major platforms.
In a period of 24 hours, PENGU had a market capitalization of more than 2 billion dollars. The trade volume was measured at one and three-quarters billion dollars, which means that there was good market participation. Its price has jumped by more than 117% during the last 7 days, an indication of how enthusiastic the sector of the Pudgy Penguins brand, plus its mobile ramping up, has become.
The Sentiment Coinbase NFT Move
The hype was even boosted by the fact that the U.S.-based crypto exchange Coinbase changed its profile picture to a Pudgy Penguins NFT. The step raised the interest of the crypto community. This was also the same period when PENGU was gaining momentum fast in its presence among retail traders and other holders of the NFTs.
Pudgy Party, which is being developed in collusion with Mythical Games, is focusing on tapping into casual mobile gamers with its fast-paced royale multiplayer. Gameplay details are not announced, but initial images keep up the traditional style of Pudgy Penguins. A $5,000 giveaway is available now; any eligible U.S. user can get a prize of $PENGU tokens through engagement and using the pre-registration option.
Technical Indicators Show Mixed Signals
On the technical front, the 4-hour chart places the RSI at 69.62, nearing overbought territory. The MACD remains bullish, though momentum appears to be stabilizing. Bollinger Bands reflect a pattern consistent with strong price moves, but a reversion toward the mid-band at $0.0297 may occur if price action slows.
The main Fibonacci zones declare a direct buying support at 0.03136, and then the further ones at 0.0297-0.0270. Resistance is sitting at the price level of $0.0361 and $0.0383, whereas the breakout above the price of $0.040 might occur in case of the occurrence of positive regulatory news. A price above 0.031 would be vital in ensuring that the rally proceeds.
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