The price of PENGU has risen by more than 14% in the last 24 hours, bringing its market capitalization to $2.57 billion. Recent speculation about a potential collaboration between Fuzzy Penguin and Pokemon has generated great excitement among investors.
This has added further momentum to an already strong upward trend. This coin continues to attract attention in the meme coin space. With strong technical indicators providing solid support, PENGU may soon test a critical resistance level and set new price milestones.
Pengu, Potential Collaboration with Pokemon...Reaching $0.10?
A recent tweet by @broskisol, a Fuzzy Penguin holder, has caused a stir within the PENGU community. This post hints at the potential collaboration between Fuzzy Penguin and Pokemon. If confirmed, this move could significantly elevate the project's status.
Such speculation has already generated interest among holders. Many are imagining the potential impact of such a high-profile partnership.
If the collaboration materializes, it could transform the PENGU brand and price. An alliance with one of the most well-known entertainment franchises in the world could attract widespread attention, increase demand, and boost the coin's value.
In this scenario, PENGU could potentially surge to $0.10 or more. This would be a historic milestone for meme coins. However, if the rumors are not confirmed, the current excitement may remain speculative.
PENGU RSI Suggests Further Upside...Sustained Momentum Needed
PENGU's Relative Strength Index (RSI) currently stands at 64.6, reflecting strong momentum, but remains below the overbought threshold of 70. RSI is a scale from 0 to 100 that measures the speed and strength of price movements. Readings above 70 indicate overbought conditions and potential corrections, while values below 30 suggest oversold conditions and potential recovery.
At 64.6, PENGU's RSI suggests the coin is still in a bullish phase. However, the value close to 70 warns that the upward momentum may be reaching its limits.
PENGU's Average Directional Index (ADX) has risen from 20.1 the previous day to 27.3, indicating a strong trend. ADX measures the strength of a trend on a scale from 0 to 100, with values above 25 signifying a strong trend. While the uptrend is still intact, the slower pace of ADX growth suggests the momentum may be stabilizing.
In the short term, the PENGU price may continue to rise. However, the combination of a high RSI and the slowing ADX growth suggests the need to closely monitor for signs of consolidation or trend reversal.
PENGU Price Prediction: $0.05 Target for January
If the current uptrend is strongly maintained, PENGU's price may soon challenge the $0.043 resistance level. Breaching this level could open the door for further gains, with the next target being $0.05. This would be a milestone the coin has not previously reached, making it one of the most valuable Solana meme coins.
If the trend reverses, the PENGU price could experience significant downside. The nearest strong support is at $0.029, and failure to hold this level could lead to further losses, potentially reaching $0.025.
