🐧Why did the PENGU price increase?
❗It is noteworthy that PENGU tokens owe their growth to both ordinary traders and crypto whales. This is evidenced by the fact that the number of coin owners has exceeded 87k, the amount of open positions on the PENGU futures market has increased by 30% to $750 million, and the daily trading volume of the cryptocurrency reached $6 billion at its peak.
❗Conclusion of a partnership agreement between the creators of PENGU and the Chinese company Suplay, which specializes in the sale of collectibles and toys.
❗Nevertheless, despite the recent correction of the PENGU rate, on the daily chart, technical indicators remain in the overbought zone, so the downward trend should continue. It is likely that traders will break through the support barrier at $0.04, and the token will fall in price to $0.035. The further fate of the coin will depend on the results of cooperation with Suplay and the decision on the creation of a PENGU-ETF.
