The community-driven Pudgy Penguins non-fungible token (NFT) collection is on a big upswing, recently hitting a three-month 300% blast in sales volume. This rally has been picking up steam as we zoom toward World Penguin Day on April 25! In tandem, the associated PENGU token has seen a stellar surge in price, up 97% on Monday. Today, the once-mighty NFT collection — famous for its 8,888 penguin-themed digital collectibles — is experiencing a surprising resurgence after months of wintery despair.
Pudgy Penguins has started to regain some traction as of late, coming back from an all-time low of $0.0037 that was set on April 9. So far during the past three weeks, PENGU has experienced a 260% increase. Currently, PENGU is priced at $0.132. It is up 40% from the past 24 hours and reached a local peak of $0.0141 this morning. The penguin-styled NFTs have increased an incredible 6% in average price, currently at an average of $20,860. This increase has recently pushed the market cap of Pudgy Penguins to a staggering $136 million.
Our technical analysis sets forth important levels for traders to be on the watch for. Crypto Sat also made note of PENGU’s price developing a rising wedge. Typically, this pattern is a precursor to a macro pullback forming directly in the future.
"$PENGU 30-mins Chart Analysis Price has been riding strong upward momentum, but it's now moving inside a rising wedge – a classic pattern that often signals a potential pullback ahead.Key Levels to Watch Support at $0.0125Resistance near $0.0140A break below the wedge…" - Crypto Sat
On the downside, current support for PENGU is set at $0.0125, with current resistance at $0.0140. A close above the $0.014 resistance level is required to continue bullish momentum. If the price drops under $0.0125, a continuation of the selloff might happen.
Despite the recent advancement, Pudgy Penguins is still down 77% from its record high of $0.057.
