- The collection of grouped penguins has seen a profound drop in its price on the ground
- The Pengued token was faced with its correction and the downward trend has not yet stopped
Fatty penguins (pingou) dropped 11% in the last 24 hours and 32.2% in last week. The drop in the same prices was linked to Bitcoin (BTC) performance and serious difficulties on the Altcoin market.
OPENSEA data has shown that the price of the NFT collection has dropped by 47% in the last month.
Source: OpenSessea
The volume of sales and prices have been down in the past three weeks, especially in last week. The increase in sales and the drop in prices revealing a market correction and prudent buyers.
Source: Santiment
The metrics on health have shown that weighted feeling has been negative since the end of December. Social domination dropped quickly in January.
This indicates fewer mentions of fatty penguins on social networks, explaining the slow increase in weighted feeling.
Pingou technical analysis has shown that more losses were on the horizon
Source: Pengu / USDT on tradingView
Based on the rally from $ 0.0226 to $ 0.0,469 at the end of December and early January, Fibonacci’s trace levels were traced. In mid-January, the price respected these key levels.
This suggests that a recovery of $ 0.0278 was possible, but a constant sales pressure in the last two weeks has canceled the Horlific hopes.
On January 26, the level of retracement of 78.6% was reteteted as a resistance, and the pingou has been in free fall since. The A / D indicator continued its constant decline and the drop in CMF below -0.05 indicated a significant capital outlet of the market.
Source: Coringlass
The thermal liquidation card last week has shown that there was an accumulation of short liquidations greater than $ 0.018, extending to $ 0.024. Given the bearish momentum and the sale pressure behind Pengu, an overtaking of $ 0.0185 seemed unlikely.
Read the prices forecasting of Penguins (Pengu).
At the time of the press, the probable scenario for the Penguin Memecoin fog was a rebound at $ 0.0185 to perceive liquidity before continuing its downward trend.
Notice of non-responsibility: The information presented does not constitute financial investments, exchanges or other types of advice and is only the opinion of the writer
