Pudgy Penguins Price Prediction: PENGU Plummets 23% As This Solana Meme Coin Rival Surges Past $3.4M In Presale

The
Pudgy
Penguins
price
plummeted
over
23%
in
the
last
24
hours
to
trade
at
$0.02406
as
of
6:13
a.m.
EST
as
investors
dump
their
holdings
in
the
recently-launched
crypto.

Despite
the
recent
pullback,
the
PENGU
price
is
still
up
more
than
380%
since
its
launch
earlier
this
week.

Pudgy
Penguins
Price
Loses
A
Key
Support

1-hour
chart
for
PENGU/USD
(Source:
GeckoTerminal)

The
Pudgy
Penguins
price


dropped

below
the
support
level
at
$0.02590
in
the
last
couple
of
hours
and
seems
to
have
formed
a
new
support
at
around
$0.02199.
Should
the
meme
coin
fall
below
this
new
technical
safety
net,
it
could
stand
the
risk
of
dropping
even
further
in
the
coming
24
hours.

However,
a
bounce
from
the
$0.02199
support
might
lead
to
the


Pudgy
Penguins

price
reclaiming
a
position
above
the
$0.02590
mark
in
the
short
term.
Thereafter,
traders
might
go
long
on
the
crypto,
which
could
push
PENGU
above
the
next
major
barrier
at
$0.03451.
In
an
extremely
bullish
case,
the
Pudgy
Penguins
price
might
soar
to
as
high
as
$0.04260.

Bears
Still
Have
A
Tight
Grip
On
The
Pudgy
Penguins
Price

Momentum
still
seems
to
favor
bears,
with
Exponential
Moving
Averages
(EMAs)
and
the
Relative
Strength
Index
(RSI)
on
the
1-hour
chart
showing
sellers
have
an
upper
hand
against
buyers. 

The
current
RSI
reading
at
just
above
30
signals
a
lot
of
bearish
strength,
which
could
lead
to
the
Pudgy
Penguins
price
dropping
even
more
in
the
coming
24
hours
if
sellers
decide
to
keep
exerting
pressure
on
the
meme
coin. 

Meanwhile,
a
major
bearish
technical
flag
was
triggered
by
the
9
and
20
EMA
on
the
hourly
chart
in
the
last
few
hours.
After
dropping
below
the
$0.03451
mark
yesterday,
the
9
EMA
crossed
below
the
20
EMA
line
as
well.
Traders
often
see
this
as
a
sign
that
an
asset
has
entered
a
negative
cycle.

Since
the
two
EMAs
crossed,
the


Pudgy
Penguins

price
has
been
consistently
pushed
down
by
the
two
technical
indicators.
A
descending
price
channel
has
also
formed
on
the
meme
coin’s
charts
after
the
crypto’s
price
recorded
lower
lows
and
lower
highs
in
the
last
couple
of
days. 

Overall,
there
are
a
few
technical
obstacles
that
PENGU
will
need
to
overcome
before
it
can
start
to
rise.

With
the
array
of
technical
barriers
currently
standing
in
PENGU’s
way,
investors
may
want
to
pivot
to
the
new
Solana
meme
coin
rival


Solaxy
(SOLX),
which
recently
surpassed
the
$3.4
million
mark
in
its
red-hot
presale.

The
crypto’s
strong
ICO
performance
comes
amid
a
series
of
bullish
SOLX
predictions
by
multiple
crypto
experts.
Among
the
analysts
that
forecast
great
things
in
the
project’s
future
is
popular
YouTuber
ClayBro,
who
told
his
more
than
133K
subscribers
in
a
recent
video
that
Solaxy
could
turn
investors
into
millionaires.

Taking
The
Solana
Network
To
The
Next
Level
With
Dedicated
Scaling
Technology

Solaxy
is
a
pioneering
project
in
the
fact
that
it
is
the
first
layer-2
network
for
the
Solana
blockchain.
With
the
hype
around
meme
coins
this
year
combined
with
Solana
being
the
network
of
choice
for
developers
because
of
its
speed
and
low
fees,
the
lightning-quick
blockchain
network
has
come
under
severe
computational
stress.

Solana
has
already
suffered
a
few
outages,
with
the
most
recent
being
earlier
this
year.
If
something
does
not
change
soon,
the
popular
meme
coin
host
could
once
again
come
to
a
standstill.

This
is
where
Solaxy
comes
in.
With
its
native
layer-2
network,
the
project
will
ease
the
computational
workload
on
the
Solana
blockchain.
Additionally,
Solaxy
will
also
increase
transaction
speeds
and
lower
network
fees.

FIRST
L2
on
SOLANA
?
sign
me
up
already

$SOLX
(

@SOLAXYTOKEN
)

~
Multi-chain
potential
(cross
chain
transactions
possible
in
future)
~
fast
transaction
with
little
or
no
congestion
on
sol
~
presale
is
currently
live
~
high
staking
rewards

~
Presale
price
increases
with…

pic.twitter.com/1GeGW84LRs

—
JUSTICΞ
????????⭕️
(@offshoda)

December
19,
2024

While
its
initial
focus
will
be
to
scale
the
Solana
network,
Solaxy
has
ambitious
plans
to
combine
Solana’s
impressive
speeds
and
low
fees
with
Ethereum’s
thriving
decentralized
finance
(DeFi)
ecosystem
and
robust
security
framework
to
create
a
super
ecosystem.

To
achieve
this,
Solaxy
will
deploy
its
native
token
to
both
Ethereum
and
Solana
in
addition
to
its
own
chain.
This
positions
the
new
project
to
become
an
optimized
value
transfer
highway
between
two
of
the
most
prominent
networks
in
the
Web3
space.

SOLX
will
subsequently
benefit
given
its
central
role
in
this
envisioned
super
blockchain
ecosystem.

High
Staking
Rewards
Are
Pulling
Investors
In 

Its
layer-2
capabilities
and
Solana
focus
are
not
the
only
factors
that
have
excited
investors.
There
is
also
a
huge
1,091%
staking
APY
currently
on
offer
to
presale
buyers. 

To
get
in
on
these
rewards,
investors
can
purchase
SOLX
tokens
via
the
widget
embedded
on
the
project’s
website
using
either
ETH,
USDT,
BNB
or
bank
card.

Once
bought,
investors
can
then
lock
up
their
tokens
through
the
staking
page
on
the
website
to
unlock
access
to
the
staking
rewards.

Purchase
and
stake
SOLX
here
for
the
1,091%
APY.

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