PENGU Price Rises 10% as Meme Coins Value Increases 5% Today

PENGU recorded double-digit gains in the past 24 hours, joining the meme coin rally. The Token gained 10.7% as altcoins gave mixed signals in the market.

With the market Capital of meme coins increasing by 5% to $80.9 billion, PENGU stands out among the leaders.

Pudgy Penguins Gets Backed by Retail Investors

The Relative Strength Index (RSI) is currently above the neutral level of 50.0, signaling bullish momentum. This technical setup suggests that PENGU price could continue to rise in the short term as investor confidence in meme assets increases.

Momentum indicators show increasing buying pressure, a necessary factor to sustain short-term upside. If RSI strength continues, PENGU could maintain its trajectory towards higher levels.

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The Chaikin Money Flow (CMF) indicator has climbed back into positive territory above the zero line. This increase indicates strong inflows into PENGU, pointing to renewed investor interest in meme coins despite the uncertainty in the broader market.

Continuous inflows are crucial for PENGU , as meme coins are highly dependent on momentum and sentiment. The rise in CMF shows that traders are directing Capital into the asset, cementing its position as one of the most active meme coins of the day.

PENGU price shows no growth

At the time of writing, PENGU is trading at $0.0376 after a 10.7% increase. The Token is trying to turn this level into support while aiming for resistance at $0.0404, which could be the next milestone in its bull run.

With strong RSI and CMF indicators, PENGU has a realistic chance of maintaining this momentum. The indicators show support from both retail traders and market money, increasing optimism for further gains above immediate resistance.

However, downside risks remain. If broader market conditions turn negative, PENGU may not be able to hold current levels. A break below $0.0363 could push the Token down to $0.0334, invalidating the bullish outlook and erasing some of its recent gains.