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Home»Altcoins»Pudgy Penguins – Why a movement appears to be passed by $ 0.0185 unlikely for Pengu
Altcoins

Pudgy Penguins – Why a movement appears to be passed by $ 0.0185 unlikely for Pengu

2025-01-30No Comments2 Mins Read
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  • Pudgy Penguins collection saw a deep decrease in its floor price
  • The pengu token was confronted with its correction and the downward trend has not yet stopped

Pudgy Penguins [PENGU] has fallen 11% in the past week in the last 24 hours and 32.2%. The price drop of the memecoin was linked to Bitcoin’s [BTC] Performance and the serious struggles on the Altcoin market.

OpenSea -Data showed that the floor price of the NFT collection had fallen by 47% in the past month.

Pudgy Penguins Volume

Source: OpenSea

The sales volume and price data have been taken over the past three weeks, especially in the past week. The increased sales and falling prices were an indication for a market correction and careful buyers.

Pengu -santimentPengu -santiment

Source: Santiment

Santiment statistics showed that weighted sentiment has been negative since the end of December. Social dominance fell quickly in January.

This indicates fewer entries from Pudgy penguins on social media, explaining the slow rise in the weighted sentiment.

Technical analysis of Pengu showed that there were more losses on the horizon

Pengu 6-hour cardPengu 6-hour card

Source: Pengu/USDT on TradingView

Based on the rally from $ 0.0226 to $ 0.0469 at the end of December and the beginning of January, Fibonacci Retracement levels were deported. In mid -January the price respected these important levels.

This suggested that a recovery of $ 0.0278 was possible, but the consistent sales pressure in the past two weeks destroyed bullish hope.

On January 26, the retracement level of 78.6% was re -tested as a resistance and since then Pengu has been in free fall. The A/D indicator continued its steady decline and the fall in the CMF below -0.05 indicated a considerable capital outflow of the market.

Pengu Liquidation Heat MapPengu Liquidation Heat Map

Source: Coinglass

The liquidation heat of the past week showed that there was a structure of short liquidations above $ 0.018, which extended to $ 0.024. Given the bearish Momentum and the sales pressure behind Pengu, a movement seemed to be past $ 0.0185 unlikely.

See also  Ethereum price consolidation refers to strength - is a movement coming higher?

Read Pudgy Penguins’ [PENGU] Price forecast 2025-26


At the time of the press, the likely scenario for the Pudgy Penguin Memecoin was a jump up to $ 0.0185 to collect liquidity before he continued the downward trend.

Disclaimer: The presented information does not form financial, investments, trade or other types of advice and is only the opinion of the writer

Next: Bitcoin runs cautiously: Can Trump’s policy prevent a crash?

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appears movement passed PENGU Penguins Pudgy
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