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The Pudgy Penguins worth plunged 9% within the final 24 hours to commerce at $0.03228 as of 11:24 p.m. EST on buying and selling quantity that plummeted 29% to $375 million.
The meme coin market merchants proceed witnessing huge volatility and shifting alternatives. In December, meme cash climbed to a market cap of $137 billion earlier than falling again to as little as $92 billion in the identical month.
In accordance with knowledge from CoinGecko, the market capitalization of the meme coin house has dropped 2% within the final 24 hours to $106 billion.
Pudgy Penguins Value On A Bearish Development
The Pengu worth evaluation on the 1-hour timeframe reveals a transparent downtrend over the previous few buying and selling classes, confined inside a falling channel sample.
This bearish construction has led to successive decrease highs and decrease lows, signaling persistent promoting stress. The Pudgy Penguins worth lately bounced from the decrease boundary of the falling channel, presently buying and selling at $0.03228, in accordance with GeckoTerminal knowledge.
The 50-day Easy Shifting Common (SMA) is at $0.03432, whereas the 200-day SMA is at $0.03321, with the value buying and selling beneath each. This alignment of the SMAs means that the general development stays bearish.
Nonetheless, the value of Pengu has discovered non permanent assist close to the channel’s decrease boundary at $0.03092, which can provide a short-term consolidation or reduction rally.
The Relative Energy Index (RSI) is at 36.74, hovering simply above oversold territory. This implies that promoting stress could also be waning, and the PENGU worth might rebound within the quick time period.
Nonetheless, the general momentum stays bearish except the RSI crosses into the impartial zone (above 50).
If the value of Pudgy Penguins fails to carry above the channel’s decrease boundary (round $0.03000), additional draw back may very well be anticipated, probably concentrating on the psychological assist degree of $0.02500.
Nonetheless, a breach above the 50-day SMA at $0.03432 might result in a check of the higher boundary of the descending channel close to $0.03500.
If bullish momentum picks up and quantity will increase, the Pengu worth may goal the 200-day SMA at $0.03321 as the subsequent main resistance degree.
Because the Pudgy Penguins worth drops, traders are shopping for a brand new coin known as Meme Index (MEMEX). In accordance with crypto analyst and YouTuber Jacob Bury, who has over 53k subscribers, MEMEX has the potential to be the subsequent 10x crypto.
Meme Index Presale Surges Previous $1 Million
The brand new crypto presale Meme Index has already garnered over $1.1 million in its surging presale.
The Meme Index marks a major development within the meme coin ecosystem. It gives traders publicity into curated meme coin indexes.
With $MEMEX, customers have entry to 4 unique meme coin baskets: the Meme Titan Index, Meme Moonshot Index, Meme Midcap Index, and Meme Frenzy Index.
Every basket caters to various danger appetites, from comparatively secure choices to ultra-high volatility picks.
As an illustration, the Frenzy Index options rising and extremely risky meme cash for these looking for an exciting funding expertise with probably enormous rewards and excessive danger.
🚨 Meme Index is dwell in Upcoming Tokens! 🚨@memecoin_index presents the first-ever diversified meme coin platform, powered by $MEMEX, giving unparalleled entry to the $120 billion meme coin market.
Meme Index gives unique entry to indexes that cater to each danger… pic.twitter.com/GsiBBuZOzX
— Greatest Pockets (@BestWalletHQ) December 27, 2024
MEMEX holders can even take part in its presale staking pool, which presently gives a stratospheric annual yield of two,112%.
To take part within the presale, you should purchase MEMEX tokens on the official web site for simply $0.0147457.
Purchase quickly to lock in the very best deal as the value will enhance in about in the future.
Purchase MEMEX tokens utilizing USDT, ETH or financial institution card.
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