PENGU has seen a sharp uptick in price, rising by 34% in the last 24 hours, reaching a multi-week high and nearing its May highs.
This surge is driven by a major development for Pudgy Penguins, sparking a bullish reaction from both holders and whales. The growing momentum is setting the stage for further growth.
Pudgy Penguins Whales Are Accumulating
Whales are actively accumulating PENGU to capitalize on its recent price rise. In just the last 24 hours, over 200 million PENGU, worth more than $2.4 million, were purchased by investors holding over $1 million worth of tokens. This significant accumulation is likely to help sustain the recent price rally.
With whales betting on further price growth, the buying pressure is expected to continue. As large holders accumulate PENGU, their actions help drive the market sentiment in a bullish direction, attracting smaller investors to follow suit.
This dynamic could play a crucial role in maintaining the meme coin’s upward momentum.
The overall macro momentum for PENGU shows strong bullish signals, with key technical indicators supporting the positive outlook.
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Author: Aaryamann Shrivastava
