Pengu avidly gathered following Uptbit listing and increased NFT transactions
Hey there! Let's dive into the uproar over PENGU, the plump little Solana-based meme coin that's been causing quite a stir recently.
Got your attention, didn't it? That's what happens when a token like PENGU takes off like a bat outta hell, with an impressive 300% jump from its monthly low in just one day! And all thanks to its listing on the South Korean crypto exchange, Upbit.
PENGU's price soared over 23% on May 9th, hitting an intraday high of $0.015, which is pretty darn impressive if you ask me. Not to mention, its 24-hour trading volume surged nearly 100% to $500 million. The token's market cap now rocks at $972 million, just $28 million short of crossing the $1 billion milestone.
But what's really got people talking? You guessed it — the listing on Upbit, that's what. This South Korean exchange is no slouch, so when they welcome a new coin to their platform, folks pay attention.
And that's not all that's being buzzed about. Open interest in PENGU futures has spiked a whopping 30% in the past 24 hours, reaching nearly $136 million. But wait, there's more! According to Crypto Slam, NFT sales for Pudgy Penguins have shot up 360%, pulling in a cool $617,081. As a result, Pudgy Penguins are now the 8th most popular NFT collection worldwide.
Speaking of worldwide, the PENGU rally's been bolstered by all the hype surrounding Solana meme coins, and with good reason. The entire Solana meme coin sector saw a 28.7% increase in market capitalization over the past day, soaring well over $12.1 billion. And what's driving this surge? Some folks say it's Bitcoin breaking the $100,000 mark for the first time since February, fueling bullish sentiment across the crypto sphere.
But is PENGU worth the investment? Well, let's take a peek at the charts. After busting out of a descending parallel channel pattern, a bullish reversal signal in technical analysis, there's steady bullish momentum from the Aroon Up (92.86%) and Supertrend (green). If the bulls can keep pushing PENGU past the resistance level at $0.021, there's talk it could reach $0.022, a significant price point from earlier in January.
So here's the deal: at press time, PENGU has Cooled its jets a bit, trading at $0.014 per coin. But as the hype around the Upbit listing fades and the market prices in major developments, it's all part of the rollercoaster ride we call crypto. As always, remember to do your own research and never invest more than you can afford to lose. Happy browsing, and may your portfolio be filled with nothing but gains!
And just in case you're curious, here's a little more info on what drives meme coins like PENGU: strong community support, marketing, visibility, Solana's low fees, and exciting technological developments. Have a great day!
- The meme coin PENGU, a plump little token based on Solana, recently listed on Upbit, the South Korean crypto exchange, causing a significant surge in its price.
- PENGU's price saw an impressive 300% jump from its monthly low in just one day, reaching an intraday high of $0.015.
- The 24-hour trading volume of PENGU surged nearly 100% to $500 million, pushing its market cap to $972 million, just shy of crossing the $1 billion milestone.
- The listing on Upbit has been a significant factor in PENGU's recent success, attracting attention from the crypto community.
- Open interest in PENGU futures has spiked by 30% in the past 24 hours, reaching nearly $136 million.
- NFT sales for Pudgy Penguins, associated with PENGU, have seen a 360% increase, making them the 8th most popular NFT collection globally.
- Bitcoin breaking the $100,000 mark for the first time since February has largely signaled a bullish sentiment across the crypto sphere, boosting the Solana meme coin sector, including PENGU.
