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Pudgy Penguins (PENGU) Shows Accumulation Signals Amid Market Downturn
Pudgy Penguins (PENGU) Shows Accumulation Signals Amid Market Downturn
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BTCCSquare news:
Pudgy Penguins' PENGU token is flashing early signs of accumulation despite recent price pressure. The asset has triggered a TD Sequential buy signal while hovering NEAR its $0.029 support level, suggesting weakening bearish momentum. On-chain data reveals strategic accumulation by smart wallets and institutional traders during the dip.
Technical patterns align with fundamental developments including Asian market expansion and growing U.S. merchandise sales. The token's consolidation between $0.029-$0.031 reflects market indecision, with traders awaiting confirmation of either breakdown or breakout. Current price action at $0.0307 (-6% daily) presents a potential inflection point for the NFT-linked token.
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