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PENGU Price Falls 26% to Record Lows, Risks Losing $1 Billion Market Cap

Press Releases Crypto News BeInCrypto PENGU Price Falls 26% to Record Lows, Risks Losing $1 Billion Market Cap

PENGU price has plunged nearly 26% in the last 24 hours, reaching its lowest levels ever. Once the biggest meme coin on Solana, it has now been overtaken by TRUMP, BONK, and DOGWIFHAT.

Technical indicators, including the Ichimoku Cloud and DMI, suggest that bearish momentum is still growing, increasing the risk of further declines. Unless a strong reversal occurs, PENGU could continue setting new lows in the short term.

PENGU Ichimoku Cloud Shows a Bearish Setup

The Ichimoku Cloud chart for PENGU shows a clear bearish trend. The price is trading below both the conversion line (blue) and the base line (red), indicating short-term and medium-term weakness.

The cloud (Kumo) is red and sloping downward, reinforcing the bearish sentiment. Additionally, the lagging span (green) is positioned below the price, confirming that bearish momentum has been dominant.

PENGU Ichimoku Cloud. Source: TradingView

With the price consistently staying below the cloud, there are no immediate signs of a trend reversal. The widening gap between the conversion and base lines suggests increasing bearish momentum.

For a trend shift, the PENGU price would need to reclaim the conversion line and eventually move into or above the cloud. Still, for now, the Ichimoku indicators continue to show strong downside pressure.

PENGU DMI Signals Strengthening Downtrend

PENGU’s DMI chart shows that its ADX has risen to 20.16 from 14.6 in just one day, indicating that the strength of the current trend is increasing.

The ADX measures trend strength, with values below 20 suggesting weak or indecisive trends, while values above 25 indicate stronger trends. The recent increase suggests that PENGU current trend is gaining momentum, though i

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Author: Tiago Amaral

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