PENGU Faces Selloff Amid Large Wallet Transfers
- Large Transfers Trigger Panic: The PENGU project's deployer wallet transferred approximately 137 million tokens, valued at around $1.5 million, to exchanges like OKX, raising immediate concerns about potential selling activity and triggering widespread selloff pressure.
- Rapid Market Reaction: As on-chain analysts highlighted the transfers, PENGU's price dropped roughly 7% in a short period, reflecting the market's heightened sensitivity to uncertainty, especially after the token had previously surged nearly 16% in a single day.
- Project-Specific Pressure Emerges: While the broader meme coin market remained strong, PENGU's decline indicated unique pressures tied to project-specific concerns, showcasing a divergence from major assets like DOGE and SHIB, which continued to post gains amid overall market optimism.
- Volatile Sentiment Shift: Long-term holders rushed to secure profits, with many traders exiting positions entirely to avoid deeper losses, leading to a swift reversal in sentiment that magnified volatility and intensified the correction.
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Technical Analysis for PENGU
Technical Sentiment Analysis for Pudgy Penguins (PENGU). As of , Pudgy Penguins (PENGU) is exhibiting a Strong buy technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 4 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for PENGU stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, PENGU is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Pudgy Penguins (PENGU) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00699 | 0.00827 | 0.00931 | 0.0106 | 0.0116 | 0.0129 | 0.014 |
| Fibonacci | 0.00827 | 0.00916 | 0.00971 | 0.0106 | 0.0115 | 0.012 | 0.0129 |
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