Why the PENGU Liquidation Heatmap Could Trigger a Short-Term Rally‼️‼️‼️
PENGU, the native token associated with the top NFT project Pudgy Penguins, has risen 6% in the last 24 hours amid a significant increase in trading volume.
As investor interest increases, on-chain data shows signs of potential continuation of the bullish momentum for PENGU.
➡️When liquidity clusters form above the current market price of the asset, they often act as magnets, pulling the price upwards. These zones typically become targets for traders looking to trigger stop-loss or forced liquidations. This is because they know this can create a spike in buying pressure and trigger short-term bullish momentum.
PENGU Ready for the Next Rally
Two key on-chain metrics indicate that the rally may not be over. First, the heatmap assessment of PENGU liquidation reveals a significant liquidity cluster just above the current price, around the US$0.045 level.
