Pudgy Penguins saw a whopping price increase of 176%, hitting a peak of $0.010 with an overall increase in global NFT sales. Since hitting a low around $0.0048, the token’s shown an impressive recovery of more than 167%. This increase is indicative of growing investor interest and considerable development activity in the Pudgy Penguins ecosystem.
After launching in 2021, Pudgy Penguins has seen its market capitalization explode to $576 million. This big bump speaks to the increasing worth of the NFT collection. Pudgy Penguins’s trading volume spiked an astounding 500% in the past 24 hours, to $372 million. This dramatic increase in trading activity reflects the depth of market participation and liquidity.
The rally has happened amidst this high-volume environment, adding additional credence to the strength of the upward price movement. Technical indicators show a deeply bullish undercurrent. The Relative Strength Index (RSI) has shot above 80 – a sign of extreme and powerful buying momentum. Further, the Percentage Price Oscillator (PPO) has rocketed to the moon, adding to the positive trend surrounding Pudgy Penguins.
Pudgy Penguins sales have increased by 400% in the last 24 hours, to $436,000. This releases Pudgy Penguins to sit in the overall fourth greatest collected by reputation, behind DMarket, Panini The united states and Guild of Guardians Heroes. On a 30-day figure basis, despite this recent increase, these sales are down 11%, with a total of $6.76 million in sales.
As things stand now, the token is still holding above its key resistance of $0.0075. However, if the price manages to break the $0.010 resistance level, it can result in notable gains. Such a bullish development would probably drive the price to close to the year-to-date high of $0.0115. According to analysts, a healthy consolidation leading to a retest of support at $0.0075 is the most probable outcome. Pudgy Penguins never dipped under the 50-period moving average for any significant time proving bullish momentum was here to stay.
