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PENGU Leads Market with 6% Spike – How Long Can It Hold?
PENGU Leads Market with 6% Spike – How Long Can It Hold?
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Despite a 6% price surge, PENGU has experienced significant selloffs, raising concerns about the sustainability of its recent gains. On Thursday, the outflows from PENGU’s spot market totaled $1.14 million, indicating profit-taking by holders. This activity suggests a lack of long-term confidence in the price surge. Additionally, PENGU’s Chaikin Money Flow (CMF) is below zero at -0.19 on the daily chart, forming a bearish divergence with the token’s rising price and hinting at a potential reversal.
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