Pudgy Penguins registered one of the biggest price increases in crypto history as it blasted all the way up to ¥0.010. This latest jump represents a strong rebound, with the price up more than 167% from its recent bottom earlier this month. The Pudgy Penguins rally came during the current surge among Solana-based meme coins, fueling the current demand for Pudgy Penguins.
At time of writing, Pudgy penguins was still holding despite finding resistance at the key level of $0.0075, a price area it had hit on March 20th. The cryptocurrency is set on the 50% retracement level, suggesting that the uptrend could continue. It has never closed below the 50-period moving average, indicating ongoing bullish trend strength.
Technical indicators further support this positive outlook. The RSI (Relative Strength Index) for Pudgy Penguins has soared above 80, which indicates extremely strong buying pressure. The Percentage Price Oscillator (PPO) has skyrocketed, boosting bullish sentiments about the crypto.
Even with the meteoric price increase, Pudgy Penguins trading volume is down a bit. They’ve recently dropped by 11% over the last 30 days to $6.76 million. The recent price action indicates that there is still a lot of money looking to invest in the NFT project. This rally took place in a highly bullish short-term environment, with the 24-hour trading volume increasing by 500% up to $372 million. This dramatic increase in trading volume is a sign that there’s vigorous market participation and it corroborates the price move.
With those recent gains, Pudgy Penguins market cap has surged to $576 million. Looking forward, expert analysts predict a modest retracement, including a possible retest at support around $0.0075. If the price manages to close firmly above the resistance level at $0.010, it would suggest further bullish momentum. Such action could propel the price back towards the year-to-date high of $0.0115.
