PENGU Price Dips 14.5% as a Team-Linked Wallet Sends 150 Million Tokens to Binance
Main Idea
A Pudgy Penguins-linked wallet transferred 150 million PENGU tokens to Binance amid a 14.5% price decline, with technical indicators signaling further bearish pressure.
Key Points
1. A wallet connected to the Pudgy Penguins NFT project team sent 150 million PENGU tokens (worth $5.64M) to Binance, contributing to the token's price decline.
2. PENGU's price dropped 14.5% over the past week, failing to reclaim the $0.0402 resistance level.
3. The wallet has transferred a total of 485 million PENGU tokens to exchanges since July, totaling $17.67M in value.
4. Technical indicators (MACD and RSI) suggest growing bearish momentum and fading buyer strength, with the RSI indicating recent overbought conditions.
5. If the $0.0370 support level breaks, further downside for PENGU is likely.
Description
Pudgy Penguins-linked wallet offloads $5.64M in PENGU amid steep market decline PENGU fails to reclaim $0.0402 resistance as price dips 14.5% over past 7 days MACD and RSI indicators suggest growing bearish pressure and fading buyer strength A wallet connected to the Pudgy Penguins NFT project team has transferred another substantial 150 million PENGU tokens, valued at $5.64 million, to the crypto exchange Binance. This significant move comes amid a broader market slump for the PENGU token, whic...
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