The post PENGU’s meltdown – THIS is how the memecoin can stop falling appeared on BitcoinEthereumNews.com.

PENGU has declined significantly in the past 24 hours as the memecoin market begins to underperform. Hope surfaces as a key support level and liquidity zone come into sight. In the last 24 hours, Pudgy Penguins [PENGU] has declined by 12.59% as the memecoin market begins to experience liquidity outflows. Analysis shows that PENGU has a chance to recover as it approaches a key support level on the chart, but there’s more to consider. High momentum, low liquidity — How it impacts PENGU PENGU’s recent decline appears to be a coordinated effort, as the momentum behind the sell-off is high. High momentum is determined by trading volume. A rising volume implies that momentum is strong. Over the past 24 hours, trading volume, according to Coinglass, has risen by 63.39% to $177.90 million. Historically, when an asset declines and volume increases, it suggests that selling pressure is likely to continue and that the asset may keep falling. With this sentiment, PENGU’s potential for a continued downward movement remains high. But there’s more to the story. AMBCrypto could link this decline to the broader performance of the memecoin sector. Source: Artemis According to Artemis, the memecoin market continues to underperform, recording massive liquidity outflows. Until the time of writing, its past month performance showed a 9.1% increase, placing it among the top 10 performing ecosystems. However, in the past 24 hours, it ranked among the bottom 10 performing ecosystems after recording a 5.2% decline. A continued outflow like this indicates a high potential for the asset’s price to move downward. Will buybacks pull PENGU from the fall? Amid this notable market decline, some buyers have stepped in. The spot market shows more buying than selling in the past three days. Over the past week, total trades were net positive for PENGU, with…

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Filed under: News - @ May 31, 2025 5:09 am