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PENGU Price- PENGU Rockets After NFT Sales Boom
PENGU Price– PENGU is making serious waves. Since breaking its bullish market structure on June 23, the memecoin has skyrocketed 170%, with a fresh 21.7% jump on July 21. What’s fueling the rally? It’s not just hype—there’s strong demand behind this move.
NFT Sales Spark Price Explosion
The Pudgy Penguins NFT collection has been red-hot lately, recording a weekly sales volume of $9.65 million. This demand pushed the floor price from under $10 to nearly $17 in less than two weeks. As NFT momentum grows, PENGU’s price action is riding the wave.
The broader crypto market has supported this move too—Ethereum [ETH] surged 6.5% over the weekend, while Bitcoin [BTC] stayed strong.
Can PENGU Keep Climbing?
While some indicators suggest overheating, the trend remains bullish. On the 1-day chart, PENGU broke resistance at $0.0361, a level not seen since January. Even as RSI dipped from 87 to 75, it’s still in overbought territory—signaling strong demand.
The OBV continues to rise, confirming buyer strength. A quick push above $0.035 created a bullish market structure break, leaving behind a Fair Value Gap (FVG), which could act as a new demand zone.
Swing Traders: Watch the $0.047 Level
The Directional Movement Index (DMI) remains bullish, with both ADX and +DI above 20. This suggests momentum is intact despite brief consolidation.
With the next key resistance at $0.047, swing traders could eye a 25% upside from current levels in the coming days.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
