CandleFocus Pudgy Penguins (PENGU) Extends Post-Airdrop Price Crash By 33% as Selloffs Intensify
2024-12-18
Author: Content Editor
The PENGU token, associated with the Pudgy Penguins NFT project, has experienced a significant decline in value. After an initial price crash following its airdrop, the token has continued to plummet. Its price has dropped 57% since its launch, and in the past 24 hours, it has fallen an additional 33%. The token's price chart indicates ongoing selloffs, putting it at risk of further devaluation. The Relative Strength Index (RSI) for PENGU is currently in the lower range of the neutral zone, suggesting a weakening momentum but not yet oversold. The negative Chaikin Money Flow (CMF) confirms a bearish outlook, indicating selling pressure dominates. The token is currently trading above its lowest price point since launch, but if selling continues, it may fall to this support level and possibly decline further. However, a shift in market sentiment could potentially lead to an uptrend for the token.
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