Shit coin

$PENGU is this drop just to liquidate some long position before going even further up, or the hype from Pudgy Penguins' X account just got dropped?
It's all psychological game. Don't hope for a significant rise as no one is willing to put few hundred millions into a memecoin, even the creator themselves, unless somehow the whole market got a very very good news and the company has made some progress, which none of them existed yet. Recent Abstract chain launch caused it to drop ~24%, the confident point is not there anymore, we are in the "tug of war" zone, and bear got the advantage because there's just not so much cost to dump, than needing few hundred millions USD to pump it and doesn't even know if they can take the profit or it will crash before they sell.
Not a financial advice, not technical analysis, and 100% not shitty ChatGpt content. Just a perspective from a chill guy on the market.
#NotAnAdvice