The post Pengu Penguins rally: what’s pushing PENGU higher? appeared on BitcoinEthereumNews.com.

Pengu Penguins (PENGU) price surges 43.7% in 24 hours to a two-month high. Bullish technicals and ecosystem growth fuel the surge, but RSI signals overbought conditions. Pengu Penguins ETF approval may drive PENGU past $0.015 to $0.022. The cryptocurrency market has been electrified by the meteoric rise of Pudgy Penguins (PENGU), which has soared to a two-month high, captivating investors and traders alike. In 24-hour, PENGU’s price has surged by 43.7%, climbing to $0.01394, a level unseen since February, breaking through stubborn resistance barriers. After weeks of languishing in a tight trading range between $0.004 and $0.0073, the token has finally awakened, propelled by a mix of technical momentum and fundamental catalysts. Trading volume has also exploded by 215.26% to $476.86 million, while derivatives activity has skyrocketed by 328.66% to $1.27 billion according to Coinglass data, reflecting the intense interest fueling this rally. Why is the Pengu Penguins price rising today? PENGU’s breakout from a prolonged consolidation phase marks the starting point of this rally, as the token shattered its multi-week trading range with decisive force. This technical shift was accompanied by a dramatic spike in trading volume, a telltale sign of strong buyer conviction and a potential trend reversal. Bullish signals from the Relative Strength Index (RSI), now exceeding 85, highlight the overwhelming buying pressure propelling the price upward. Similarly, the Moving Average Convergence Divergence (MACD) has flipped into bullish territory, with the MACD line surging past the signal line, reinforcing the upward momentum. For three consecutive days, Pudgy Penguins (PENGU) has closed above both its 20-day Exponential Moving Average (EMA) and 50-day Simple Moving Average (SMA), a rare alignment signaling a possible transition to a sustained uptrend. The Average True Range (ATR) has also been trending higher since April 21, indicating a return of volatility that often precedes…

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Filed under: News - @ April 28, 2025 9:21 am