Pudgy Penguins ($PENGU )
PENGU has fallen by 21% over the past week, raising concerns among investors. It is now approaching a monthly low. This decline raises questions about the sustainability of the recent bullish momentum and the likelihood of further price drops.
Despite the decline, PENGU is still holding above the important 50-day exponential moving average (EMA), indicating the potential for recovery. To regain lost positions, the coin needs to rise above the support level of $0.0322. This could inspire the price to bounce back and restore investor confidence.
If selling pressure continues, PENGU may drop below the support at $0.0298. A more significant decline could drive the meme coin's price down to $0.0280 or lower. This would further worsen market sentiment.
