Pudgy Penguins (PENGU) has experienced a 12% surge in price, making it the largest meme coin in the Solana ecosystem with a market cap of approximately $2.5 billion. The coin's current uptrend places it near key resistance levels and there is potential for significant gains if bullish momentum continues. However, there are early signs that the uptrend may be losing strength, leading to caution among traders. The Relative Strength Index (RSI) for PENGU has declined from 70 to 60.2, indicating a cooling of buying activity and the possibility of a consolidation phase. The Chaikin Money Flow (CMF) for PENGU has slightly decreased, suggesting that buying pressure has eased but the market remains bullish. Despite the potential for further gains if the uptrend continues, there is also the possibility of a reversal, with support levels at $0.37 and $0.30. In the worst-case scenario, a prolonged downtrend could push PENGU price as low as $0.229.



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