Be a part of Our Telegram channel to remain updated on breaking information protection
The Pudgy Penguins value plummeted over 23% within the final 24 hours to commerce at $0.02406 as of 6:13 a.m. EST as buyers dump their holdings within the recently-launched crypto.
Regardless of the current pullback, the PENGU value continues to be up greater than 380% since its launch earlier this week.
Pudgy Penguins Worth Loses A Key Help
1-hour chart for PENGU/USD (Supply: GeckoTerminal)
The Pudgy Penguins value dropped under the assist degree at $0.02590 within the final couple of hours and appears to have shaped a brand new assist at round $0.02199. Ought to the meme coin fall under this new technical security internet, it may stand the chance of dropping even additional within the coming 24 hours.
Nevertheless, a bounce from the $0.02199 assist may result in the Pudgy Penguins value reclaiming a place above the $0.02590 mark within the brief time period. Thereafter, merchants may go lengthy on the crypto, which may push PENGU above the subsequent main barrier at $0.03451. In an especially bullish case, the Pudgy Penguins value may soar to as excessive as $0.04260.
Bears Nonetheless Have A Tight Grip On The Pudgy Penguins Worth
Momentum nonetheless appears to favor bears, with Exponential Shifting Averages (EMAs) and the Relative Power Index (RSI) on the 1-hour chart exhibiting sellers have an higher hand towards consumers.
The present RSI studying at simply above 30 alerts loads of bearish energy, which may result in the Pudgy Penguins value dropping much more within the coming 24 hours if sellers determine to maintain exerting strain on the meme coin.
In the meantime, a significant bearish technical flag was triggered by the 9 and 20 EMA on the hourly chart in the previous few hours. After dropping under the $0.03451 mark yesterday, the 9 EMA crossed under the 20 EMA line as effectively. Merchants usually see this as an indication that an asset has entered a damaging cycle.
For the reason that two EMAs crossed, the Pudgy Penguins value has been constantly pushed down by the 2 technical indicators. A descending value channel has additionally shaped on the meme coin’s charts after the crypto’s value recorded decrease lows and decrease highs within the final couple of days.
General, there are a couple of technical obstacles that PENGU might want to overcome earlier than it might probably begin to rise.
With the array of technical obstacles at present standing in PENGU’s method, buyers might need to pivot to the brand new Solana meme coin rival Solaxy (SOLX), which just lately surpassed the $3.4 million mark in its red-hot presale.
The crypto’s sturdy ICO efficiency comes amid a collection of bullish SOLX predictions by a number of crypto specialists. Among the many analysts that forecast nice issues within the venture’s future is well-liked YouTuber ClayBro, who instructed his greater than 133K subscribers in a current video that Solaxy may flip buyers into millionaires.
Taking The Solana Community To The Subsequent Stage With Devoted Scaling Know-how
Solaxy is a pioneering venture within the truth that it’s the first layer-2 community for the Solana blockchain. With the hype round meme cash this yr mixed with Solana being the community of alternative for builders due to its pace and low charges, the lightning-quick blockchain community has come below extreme computational stress.
Solana has already suffered a couple of outages, with the newest being earlier this yr. If one thing doesn’t change quickly, the favored meme coin host may as soon as once more come to a standstill.
That is the place Solaxy is available in. With its native layer-2 community, the venture will ease the computational workload on the Solana blockchain. Moreover, Solaxy may even improve transaction speeds and decrease community charges.
FIRST L2 on SOLANA ? signal me up already $SOLX ( @SOLAXYTOKEN )
~ Multi-chain potential (cross chain transactions doable in future)
~ quick transaction with little or no congestion on sol
~ presale is at present reside
~ excessive staking rewards~ Presale value will increase with… pic.twitter.com/1GeGW84LRs
— JUSTICΞ 🫶🏽⭕️ (@offshoda) December 19, 2024
Whereas its preliminary focus might be to scale the Solana community, Solaxy has bold plans to mix Solana’s spectacular speeds and low charges with Ethereum’s thriving decentralized finance (DeFi) ecosystem and strong safety framework to create an excellent ecosystem.
To realize this, Solaxy will deploy its native token to each Ethereum and Solana along with its personal chain. This positions the brand new venture to develop into an optimized worth switch freeway between two of probably the most outstanding networks within the Web3 house.
SOLX will subsequently profit given its central function on this envisioned tremendous blockchain ecosystem.
Excessive Staking Rewards Are Pulling Buyers In
Its layer-2 capabilities and Solana focus usually are not the one elements which have excited buyers. There’s additionally an enormous 1,091% staking APY at present on provide to presale consumers.
To get in on these rewards, buyers should buy SOLX tokens through the widget embedded on the venture’s web site utilizing both ETH, USDT, BNB or financial institution card.
As soon as purchased, buyers can then lock up their tokens by means of the staking web page on the web site to unlock entry to the staking rewards.
Buy and stake SOLX right here for the 1,091% APY.
Associated Articles:
Latest Meme Coin ICO – Wall Road Pepe
- Audited By Coinsult
- Early Entry Presale Spherical
- Non-public Buying and selling Alpha For $WEPE Military
- Staking Pool – Excessive Dynamic APY
Be a part of Our Telegram channel to remain updated on breaking information protection