The value of Pengu increases as the value of the Pokémon partnership increases
Pengu's stock has risen more than 14 percent in the past 24 hours, bringing its market cap to $2.57 billion. Recent speculation surrounding a possible collaboration between Pudgy Penguins and Pokemon has created a lot of excitement among investors.
This has added impetus to the already strong growth as the coin continues to attract attention in the meme coin space. With technical indicators showing strong support, PENGU may soon test critical resistance levels and set new price levels.
PENGU's possible collaboration with Pokemon could bring the price to $0.10.
A recent tweet by Pudgy Penguin owner @broskisol sparked excitement in the PENGU community. The post hints at rumors of a possible collaboration between Pudgy Penguins and Pokemon, a move that could raise the profile of the project if confirmed.
The prospect has already sparked interest among owners, with many wondering what impact such a high-profile partnership could have.
If the collaboration materializes, PENGU's brand name and pricing may change. Aligning with one of the world's most popular entertainment franchises can attract widespread attention, increase demand and increase the value of the coin.
In this case, PENGU could rise to $0.10 or more, which is a historical milestone for meme coin. However, without confirmation of the rumours, the current excitement may remain speculative.
PENGU RSI may be further up, but the growth should continue strong.
Pengu's Relative Strength Index (RSI) is currently at 64.6, reflecting strong momentum but remaining below the overbought 70 threshold. Possible supports. Conversely, values below 30 indicate oversold conditions and possible recovery.
At 64.6, Pengu's RSI suggests that the coin is still in bearish territory, but near 70 indicates caution as the upward momentum may be nearing limits.
PENGU's Average Directional Index (ADX) rose to 27.3 from 20.1 a day ago, indicating a strengthening trend. The ADX measures trend strength on a scale of 0 to 100, with values above 25 indicating a strong trend. While the growth remains intact, the slow pace of ADX growth suggests that the momentum may stabilize.
In the short-term, Pengu price may continue to move higher, but the combination of a high RSI and a declining ADX trend will pay close attention to any signs of consolidation or a trend reversal.
Pengu Price Prediction: Will PENGU Test $0.05 in January?
If the current trend remains strong, PENGU price may soon challenge the resistance at $0.043. A break above this level could pave the way for further gains, with the next target being $0.05, a milestone the coin has never reached before, making it one of the most valuable Solana meme coins.
On the downside, if the exit reverses, the price of PENGU could experience a significant drop. The nearby strong support is at $0.029, and failure to hold this level may cause further losses, the price may drop to $0.025.
Disclaimer
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