PENGU Price Jumps 10% As Meme Coins Value Rises By 5% Today
PENGU recorded double-digit features within the final 24 hours, becoming a member of the broader meme coin rally. The token surged 10.7% as altcoins delivered combined alerts throughout the market.
With meme cash’ collective market capitalization climbing 5% to $80.9 billion, PENGU stood out among the many high performers.
Pudgy Penguins Have Investors’ Support
The Relative Strength Index (RSI) is at present sitting above the impartial 50.0 mark, signaling bullish momentum. This technical setup means that PENGU price could proceed pushing increased within the close to time period as investor confidence builds round meme belongings.
Momentum indicators spotlight rising shopping for stress, a essential element for sustaining short-term rallies. If RSI power persists, PENGU may keep its trajectory towards increased ranges.
Want extra token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.
The Chaikin Money Flow (CMF) indicator has climbed again into the constructive zone above the zero line. This uptick highlights robust inflows into PENGU, pointing to renewed investor curiosity in meme cash regardless of broader market uncertainty.
Sustained inflows are critical for PENGU, as meme cash rely closely on momentum and sentiment. The CMF’s rise suggests merchants are directing capital towards the asset, reinforcing its place as probably the most energetic meme cash of the day.
PENGU Price Is Not Noting Gains
At the time of writing, PENGU is trading at $0.0376 after its 10.7% rally. The token is trying to flip this stage into help whereas concentrating on the resistance at $0.0404, which may function the subsequent milestone in its rise.
Given robust RSI and CMF readings, PENGU has a sensible likelihood of sustaining this momentum. The indicators recommend backing from each retail merchants and market inflows, bolstering optimism for additional features past the speedy resistance.
However, draw back dangers stay. If broader market circumstances flip bearish, PENGU could fail to carry present ranges. A breakdown by $0.0363 may ship the token decrease to $0.0334, invalidating the bullish outlook and erasing a part of its current features.
The submit PENGU Price Jumps 10% As Meme Coins Value Rises By 5% Today appeared first on BeInCrypto.