PENGU’s price surges after NFT boom – Another 25% rally ahead?

Key Points

1. PENGU's price surged by 21% on Monday, following a 170% rally since its bullish market structure break on 23 June.

2. Pudgy Penguins NFT sales volume reached $9.65 million over the past week, driving the floor price up from below $10 to $16.88 in under two weeks.

3. The wider crypto market remained bullish, with Ethereum rallying by 6.5% and Bitcoin not seeing a significant pullback.

4. Technical indicators like RSI and OBV suggest strong buying pressure, with PENGU breaking past the $0.0361 resistance level last seen in January.

5. The next price target for PENGU is the $0.047 resistance, indicating a potential 25% rally from current levels.